Renwick Haddow, who now faces up to 40 years in prison, was captured in Morocco in 2017 on an Interpol arrest warrant and extradited to the US over charges of selling non-existent office space under a scheme called Bar Works, and operating a fake Bitcoin trading platform
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The former British accountant has a history of running investment scams, and was banned as a director by British regulators in 2008 after scamming the publishers of Cosmopolitan magazine.
Last year, the regulators ordered Haddow and others to pay £16.9 million ($21.19 million) for their roles in four unauthorised investment schemes, including a Sierra Leone farming operation and three carbon credit projects.
In order to conceal his role as CEO of Bar Works, Haddow operated under the name ‘Jonathan Black’, and hosted events around the world in Hong Kong, India and Singapore to lure in investors, promising them 12-15 percent annual returns
Haddow’s other business scams include a milk line, glow in the dark plastics, a hotel ownership plan and even an attempt to buy the world’s oldest newspaper, UK-based The Observer.
Haddow’s sentencing date in the US court has yet to be scheduled.
Another accomplice, 58-year-old James Moore, was found guilty this month for conspiring in the scam, which gained him over $1.6 million in commissions, according to a statement from US prosecutors.
“James Moore was part of a ring of insiders who helped conceal that Bar Works was run by a known fraudster. Innocent and unaware investors lost millions of dollars thanks to his contributions to the scheme,” Manhattan US Attorney Geoffrey S. Berman said in a statement.
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