Alleged Bar Works schemer is on the lam

From Crain’s New York, “Renwick Haddow, a British citizen who was charged with fraud last week by both the Securities and Exchange Commission and federal prosecutors, has not turned himself into authorities and is considered a fugitive, according to a spokesman for the U.S. attorney’s office for the Southern District of New York.

Haddow unlawfully sold securities in Bar Works and a Bitcoin store, then diverted at least $5 million of the money into overseas accounts he controlled. Government investigators allege Haddow raised almost $38 million in the scams, the bulk of it through Bar Works, a co-working company whose dubious concept was to combine desk spaces with a bar environment where members could both work and drink.

As government investigators were close to pressing charges against Haddow in recent weeks, the alleged scheme showed signs of coming apart. A visit by Crain’s to Bar Works’ two midtown locations found they had been shuttered and the landlord of a planned Bar Works location on West 16th Street and Eighth Avenue said he had begun eviction proceedings against the company after it stopped paying rent in recent months.”

Leave a comment

Filed under Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s