US Gov to determine property forfeiture in case against Ponzi scammer Renwick Haddow

Maria Nikolova

The Government has been directed by the Court to determine what property it will seek to have forfeited.

Judge Laura Taylor Swain of the New York Southern District Court has issued an order concerning the criminal proceedings against Ponzi scammer Renwick Haddow, widely known for his Bitcoin fraudulent schemes.

Shortly after the Court accepted the guilty plea of Haddow, the Judge has entered an order regarding forfeiture in this case.

The order says that, the indictment in this matter includes one or more forfeiture allegations. Pursuant to Rule 32.2(b) of the Federal Rules of Criminal Procedure, after a finding of guilt, the Court must determine whether property is subject to forfeiture under the applicable statute and enter a preliminary order of forfeiture if necessary. Accordingly, the Government is hereby directed to determine what property it will seek to have forfeited and confer promptly with defense counsel to ascertain whether the defense opposes the forfeiture sought. The Government must thereafter provide, no later than two weeks before the sentencing date a proposed preliminary order of forfeiture.

The Court’s order marks one of the few recent bits of information regarding the proceedings against Haddow in the United States. In a related lawsuit brought against Haddow by the Securities and Exchange Commission (SEC), the Government was told to provide an update on the Haddow matter by June 11, 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 this investigation.

Read this next

Market News

Savvy Investors to Profit Whether the Stock Market Rebounds or Not

Equities have gone up enormously since the low. SP500 has gained 13.88% since June 17. In August, the indices drifted sideways. On Wall Street, veteran investors expect a move in either direction.

Industry News

Wall Street-backed MEMX obtains SEC approval for options trading platform

The company has raised more than $135 million in funding from 18 stock trading and investing heavyweights, including BlackRock, Citadel Securities, and Morgan Stanley.

Industry News

Amundi US launches ESG strategy that seeks to outperform S&P 500

Amundi’s Responsible investing team includes more than 45 specialists, and its ESG analysis covers more than 13,500 issuers across debt and equity.

Industry News

Verto launches embedded FX payments solution

The Verto API automates currency conversions, tracks payments and exchange rates in real-time, and is being launched in the follow-up of a $10 million in Series A funding last year.

Industry News

SEC awards over $16m to whistleblowers after another successful enforcement action

The program is 10 years-old and has arguably played a critical role in the Division of Enforcement’s ability to effectively detect wrongdoing, protect investors and the marketplace, and bring violators to justice.

Digital Assets

Ripple submits most succint explanation of Hinman issue in XRP lawsuit

It might be useful to get up to date as this could be the end of the road for the SEC.

Retail FX

TradingView integrates first Brazilian broker, Órama Investimentos

Órama offers all kinds of investment products, from fixed income to crypto-related funds.

Digital Assets

TRON approves Wintermute to mint, burn USDD stablecoin

TRON Reserve DAO has welcomed crypto market-making giant Wintermute as the ninth member and whitelisted institution to mint Tron network’s stablecoin, Decentralized USD (USDD).

Metaverse Gaming NFT

Nas Academy and Invisible College introduce innovative model for Web3 education

Singapore-based online learning platform, Nas Academy is joining forces with Invisible College to teach people everything they need to know about the Web3.

<