SEC requested to reopen the sue of Bitcoin scammer Renwick Haddow

The United States Securities and Exchange Commission (SEC) appears to be dissatisfied with the South New York District Court judge’s ruling on the case against Renwick Haddow. Renwick Haddow is a Bitcoin scammer, had been sued by a United Kingdom regulator for a prior scheme involving African land.

Bitcoin scammer Renwick Haddow

Judge Lorna G. Schofield ordered the case to be closed. However, the SEC is currently seeking to reopen the claim and believes that there are still some issues need to be resolved. Moreover, the SEC wants the Bitcoin scammer guy to be fined with a monetary penalty. That’s precisely what they deserve.


Renwick Haddow

Haddow is known for several high profile schemes. However, his US-based hot-desking business known as Bar Works, is likely the best-known one. He scammed over 100 UAE investors. Renwick Haddow’s Ponzi scam program mainly sells fake investments in unused restaurants and bars in some US cities. This includes NYC and San Francisco.

His other big scams involved fronting a corporate network known as the Capital Organization. This project consisted of 30 shell companies responsible for conning investors out of a total of $ 180 million. And also his so-called Bitcoin Store Inc and 7th Avenue companies. This is a project that he used to steal $ 37 million from unsuspecting investors between 2015 – 2017.

The SEC will do until the end of this lawsuit

Because of Haddow’s fraudulent activities, the SEC strongly sued him. Although the court decides the case should be closed. However, the SEC still sent a request to Judge Lorna G. Schofield to reopen the claim. The SEC complaint is that the court has not yet resolved the issue of fines.

Two scenarios will occur after Haddow is convicted. The first one will see the parties reach an agreement on monetary relief, while the other party will lead the regulatory agency to make a move to seek monetary assistance on its own.

So far, Haddow is still permanently restricted from stock transactions. He was forbidden to use any national securities exchange, as well as any instrumentality of interstate commerce. Perhaps because of this sentence, he will not be able to make another plan, deceive others, or engage in any other fraudulent business activities.

Two years ago, in June 2017, Haddow (under the alias Jonathan Black) was allegedly involved in plans involving Bar Works and Bitcoin Store Inc. By May of this year, he continued to receive this allegation. In April 2018, Haddow was extradited from Morocco on charges of wire fraud, as well as conspiracy to commit wire fraud, to which he pleaded guilty.

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