By CCN Markets: Renwick Haddow, the operator of the fake crypto trading platform Bitcoin Store and the fraudulent shared office space Bar Works, admitted to the charges against him with one of his fellow collaborators found guilty by US court.
According to the US Department of Justice (DOJ), the British man and his accomplices caused victims a total of $50 million of damages.
Renwick Haddow aka. “Jonathan Black”
Before Haddow had started his fraudulent schemes in the US, the UK’s Financial Conduct Authority (FCA) had disqualified the British man from managing a company in the European country in 2008 for scamming the publishers of the Cosmopolitan magazine.
The FCA had also sued Haddow, ordering him to pay £16.9 million ($21.19 million) for operating four investment schemes — a farming operation in Sierra Leone and three carbon credit projects — that resulted in investors losing most of their money.
In an attempt to avoid negative publicity, the British man decided to use the alias “Jonathan Black” to hide his identity when operating Bar Works in New York.
Haddow hosted events throughout the world in cities like Hong Kong and Singapore using the Jonathan Black alias to mask his identity and promise between 12 and 15 percent annual returns to lure in investors.
His accomplices, including the British James Moore, helped Haddow in fabricating a fake financial background and past successes with startup companies that included creating pitch materials for investors that misrepresented the Bark Works CEO.
“James Moore was part of a ring of insiders who helped conceal that Bar Works was run by a known fraudster.