US Govt says no sentencing date yet for Ponzi scammer Renwick Haddow

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459. Allow ’s notice that this situation, as FinanceFeeds has reported, targets among Haddow’s co-conspirators – James Moore. He was convicted at trial of wire fraud and conspiracy for participating in a scheme to defraud investors by making misrepresentations about the operations and management of Tavern Works Inc..
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The suspect pleaded guilty due to a collaboration agreement, and his collaboration with the Government’s investigation in these offenses is ongoing.
Last month, U.S. Attorney Berman announced the unsealing of a guilty plea by Haddow where he confessed to his involvement in the fraudulent scheme related to Bar Works, as well as to creating material misrepresentations and misappropriating investment funds in another firm made by Haddow called Bitcoin Store Inc., and agreed to cooperate with the Government.
The case has been assigned to the Honorable District Judge Laura Taylor Swain below the caption 19 Cr. 340.
The upgrade does not say much, sadly, even though the period of silence from the prosecutors has been rather lengthy.
Several days following the New York Southern District Court ordered that the United States Government to provide an update on the offender proceeding targeting Ponzi scammer Renwick Haddow, the US authorities complied with this order and filed a Letter at the Court.

Finally, the Government states that Mr. Haddow’s sentencing has not yet been scheduled.

FinanceFeeds –

Victims of Ponzi scammer Renwick Haddow to appeal from judgment in case against JPMorgan

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Let’s remember that the plaintiffs — Hongying Zhao and 244 other people, have brought this action against JPMorgan Chase Bank, N.A. (JPMC) and its holding company JP Morgan Chase & Co.. Put the plaintiffs alleged that Haddow had been aided by JPMorgan.

Less than a month later Judge Naomi Reice Buchwald of the New York Southern District Court dismissed a situation brought by victims of Ponzi scammer Renwick Haddow against JPMorgan Chase & Co. (NYSE:JPM) and JPMorgan Chase Bank, the plaintiffs have stated their intentions to appeal against the judgment.

The Judge noted that only stating that JPMorgan understood Haddow was using the bank’s accounts as fiduciary accounts is plainly conclusory (also elides the fact that the JPMC accounts were ordinary depository accounts instead of expressly designated fiduciary or trust accounts). Additionally, the mere truth that JPMorgan had access to this private placement memorandum (PPM) is irrelevant without adequately particular factual allegations the PPM contained specific indications that the relationship between Haddow or Bar Works and investors climbed to the amount of fiduciary.
The Judge also said that the plaintiffs fail to adequately allege that JPMorgan had actual knowledge of any violation of obligations conducting out of Haddow or Bar Works to plaintiffs. The plaintiffs’ argument that JPMorgan’s understanding of regular withdrawals, wire transfers to accounts countries recognized as cash laundering havens, along with the only transfer remember request comprise”actual knowledge” of a violation of fiduciary duty or fraudulent scheme was also discovered to be unpersuasive.
At this point, the plaintiffs on how they want to carry on with their appeal not provide any additional info.
The Complaint’s primary allegation is that defendants were willfully blind to how non-party Renwick Haddow along with his firm”Bar Works” were committing a fraud on their investors. On approximately February 4, 2016, Haddow opened depository bank accounts for just two Bar Works entities at JPMC (the”622 account” or the”379 accounts”). The plaintiffs mention many examples of account activity they allege alerted or should have alerted JPMC to the Bar Works enterprise’s fraudulent nature. According to the Complaint, trade activity from Haddow’s accounts at JPMC generated thousands of dollars in transaction fees for its lender. The plaintiffs further allege that prices connected with the transactions constituted a”large percentage of their wired amount” As a consequence of JPMC’s actions, plaintiffs allege that they dropped nearly $17 million that they had spent in Bar Works.

In a notice filed with the Court now, more than 200 sufferers of the scammer state they are appealing to the United States Court of Appeals for the Second Circuit from a last Judgment awarding the defendants’ motion to dismiss the first amended complaint entered in this action on March 13, 2019.

FinanceFeeds –

The post Victims of Ponzi scammer Renwick Haddow to take advantage of ruling in case against JPMorgan appeared on FinanceFeeds.

NY Court grants another “final” continuance in case against Ponzi scammer Renwick Haddow

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For example, Haddow concealed his fascination with Bitcoin Store and fabricated the supposed”experienced group of top investment pros” working in the company. In connection with Bar Works, Haddow embraced the alias”Jonathan Black” to hide his role in the strategies. He claimed that”Jonathan Black” had an extensive background in finance and needed a role in setting up”Car Share,” a car-sharing program.
In June 2017, the charges against Renwick Haddow were unsealed. The criminal complaint charges him with two counts of wire fraud — a relating to this Bitcoin Store scheme and the other about the Tavern Works scheme. Each charge carries a maximum penalty of 20 years in prison.
The post NY Court grants another”final” continuance in case from Ponzi scammer Renwick Haddow appeared first on FinanceFeeds.
Haddow solicited investments throughout his management of InCrowd Equity Inc., which represented itself as a sort of crowdfunding portal through which investors may buy stocks of start-ups supposedly assessed by InCrowd. He did so without disclosing to investors that he had an ownership interest in both InCrowd, on the one hand, and Bitcoin Store and Bar Works, about the other. Haddow additionally misappropriated without permission funds purportedly invested in Bitcoin Store and Bar Works for his own use and also the use of other people.

FinanceFeeds –
Beneath the allegations, Haddow, who is a citizen of the United Kingdom, from November 2014 through June 2017, solicited investments at startup companies he created and regulated, such as Bitcoin Store — a supposed online platform for purchasing, sale, and storing the digital currency known as”Bitcoin”–and Bar Works, that seems to be a business that adapts former restaurants, pub assumptions, and other places into co-working spaces. When doing so, Haddow made material misrepresentations about the direction, operations, and historic performance of these businesses.
There has been another continuance in the event taken by the US government against Ponzi scammer Renwick Haddow, although once the prior such adjournment has been asked , the delay had been likely to be closing. And once again, before this week, Martin S. Bell, an Assistant United States Attorney in the Office of Geoffrey S. Berman, United States Attorney for the Southern District of New York, filed confirmation in support of an application for the order of continuance of their time in which an indictment or information will otherwise have to be filed in the event of

Therefore, the situation is continued till April 12, 2019. The petition is supposed to be the final one in this instance.

Counsel for the defendant and the government are engaged in discussions concerning a potential disposition of this situation, and hope to fix it soon. The negotiations have never been done and the plan is to continue these talks.