NY Court orders US Govt to update on proceedings against Ponzi scammer Renwick Haddow

Maria Nikolova

Judge Lorna G. Schofield of the New York Southern District Court gives the US Government until June 11, 2019, to provide an update on the criminal proceedings against the fraudster.

There has not been much information over the past several months about the United States criminal proceedings against Ponzi scammer Renwick Haddow, who is known for his fraudulent Bitcoin schemes. The scarcity of information has been noticed by the Court, as the Securities and Exchange Commission (SEC) is also targeting Haddow in a separate civil lawsuit.

Earlier today, Judge Lorna G. Schofield of the New York Southern District Court issued a brief order directing the US Government to provide an update on the Haddow matter.

A previous order by the Court required the United States Government to file a status letter every sixty-days providing the Court with an update on the criminal case captioned United States v. Renwick Haddow, 17 Mj. 4939. Whereas the United States failed to submit the letter, today the Court orders that, by June 11, 2019, the United States shall file the status letter.

Let’s note that the criminal proceedings have been protracted with every extension of the deadlines attributed to ongoing negotiations between Haddow and the US authorities. At some point, however, the updates stopped.

The last official information about the action against Haddow was made available by Geoffrey S. Berman, the United States Attorney for the Southern District of New York, in May this year with relation to the activities of Sam Aura, another member of the “Bar Works” conspiracy. 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 this investigation.

Read this next

Institutional FX

PrimeXM reports lower volumes for July as summer lull bites

PrimeXM has reported weaker trading volumes for July 2022, in line with other institutional and retail platforms that saw the activity of their clients dropped compared to a month earlier.

Retail FX

FCA warns of ATFX Global Trading / ATFXcoin

In its latest clampdown against the specific type of ‘clone fraud’, the Financial Conduct Authority (FCA) has warned local investors to watch out for a company called ATFX Global Trading / ATFXcoin.

Digital Assets

CME Group to roll out options on Ether futures next month

Derivatives exchange CME Group is set to roll out options on Ether futures on September 12 in a move to bring another level of diversification to cryptocurrency traders.

Industry News, Podcasts

Finance Feeds launches Podcasts: Listen to Ep. #1 feat. Dmitri Galinov of 24 Exchange

The team at Finance Feeds are happy to announce the launch of our Podcast series, available on Spotify and other audio services and hosted by our Editor-in-Chief Nikolai Isayev.

Digital Assets

Madfish launches Yupana.Finance, the first lending protocol on Tezos

Yupana, which aims to provide a similar experience to Aave or Compound, currently supports TEZ, cTEZ, kUSD, tzBTC, uUSD, and uBTC.

Industry News

SEC charges barred broker Anthony J. Mastroianni with $1.2m fraud targeting elderly

Instead of using investor monies to generate income, Mastroianni withdrew over $486,000 of investors’ money from his firm’s bank account and used ill-gotten funds for personal expenses on luxury items, the SEC alleged. 

Digital Assets

Unizen names crypto veteran Michael Healy as chief strategy officer

CeDeFi exchange Unizen has onboarded crypto industry veteran Michael Healy, who originally worked for Wikileaks and built their android application in 2010, as Chief Strategy Officer.

Institutional FX

Sterling Trading Tech adds FX and Crypto to risk and margin system

The Risk-as-a-Service solution provides supports FX spot, forward, and swap trades and positions, in any currency pair, as well as Crypto including crypto priced in any currency.

Interviews, Metaverse Gaming NFT

Exclusive: Wayne Marcel explains FIO Protocol amid fight against fraud on NFT markets

It’s been 12 years since Satoshi Nakamoto released the white paper that introduced Bitcoin to the world.

<