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HomeIndustry NewsCourt orders closure of SEC case against Ponzi scammer Renwick Haddow
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Court orders closure of SEC case against Ponzi scammer Renwick Haddow

The New York Southern District Court has issued an order closing the case brought by the Securities and Exchange Commission (SEC) against Renwick Haddow, known for orchestrating fraudulent schemes such as Bar Works and Bitcoin Store Inc. The relevant order was signed by Judge Lorna G. Schofield on December 5, 2019.

The order is issued about three months after the Court entered a consent judgment as to Haddow.

As per the consent judgment, Haddow is permanently restrained and enjoined from violating, directly or indirectly, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b, by using any means or instrumentality of interstate commerce, or of the mails, or of any facility of any national securities exchange, in connection with the purchase or sale of any security:

  • a) to employ any device, scheme, or artifice to defraud;
  • b) to make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading; or
  • c) to engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person.

In May 2019, U.S. Attorney Berman announced the unsealing of a guilty plea, on May 8, 2019, by Renwick Haddow, a/k/a “Jonathan Black,” in which he admitted to his own involvement in the fraudulent scheme related to Bar Works, as well as to making material misrepresentations and misappropriating investment funds in another company created by him called Bitcoin Store Inc.

Haddow was originally charged in June 2017 and extradited from Morocco in April 2018. He pleaded guilty to an Information charging him with wire fraud and conspiracy to commit wire fraud and is cooperating with the Government in the criminal investigation.

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