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

Digital Assets

SEC denies First Trust Advisors-SkyBridge application for Bitcoin ETF

The US Securities and Exchange Commission (SEC) has again rejected another bid to list a spot bitcoin exchange-traded fund (ETF), which is widely seen as a proxy into crypto for millions of retail investors.

Technology

Crypto fund Modus.Trade taps Gold-i to manage its technology infrastructure

Modus.Trade, which operates an investor network, online learning platform, and suite of algorithmic trading strategies, has selected FinTech company Gold-i to manage its entire technology infrastructure.

Industry News

Ripple’s “biggest victory” triggers XRP Holders’ request for unprivileged SEC meetings

“The biggest victory for Ripple and XRPHolders, from Judge Netburn’s recent decision, isn’t necessarily the email with the Draft version of the Hinman speech.”

Retail FX

Fintech Alpaca poaches Pepperstone Cyprus head Victor Zachariades

Victor Zachariades, who joined Pepperstone in 2019 to head up its Cyprus operations, has left the FX firm to join Alpaca, a stock brokerage that allows developers to build apps, services, and trading platforms.

Industry News

Public.com acquires HyperCharts to improve broker’s data visualization

“One chart is worth 1,000 numbers. We built HyperCharts to make financial analysis easy, fun, and approachable for the masses by turning complex SEC filings into simple, interactive charts.”

Institutional FX

FX HedgePool launches mid-month roll cycle for better pools of peer liquidity

“By introducing this new cycle, we’re offering the buy-side greater choice with respect to accessing safe and transparent pools of peer liquidity.”

Digital Assets

Robinhood launches Beta version of crypto wallet

Wallets will allow Robinhood users to send and receive their crypto from Robinhood to external crypto wallets, fully connecting Robinhood crypto holders to the greater blockchain ecosystem for the very first time – a major milestone for the broker’s venture into crypto.

Industry News

JKO Play drops out of running to acquire Playtech

A consortium called JKO Play, led by former Formula 1 boss Eddie Jordan and gambling industry veteran Keith O’Loughlin, has pulled out of the race to acquire Playtech.

Institutional FX

ABN AMRO launches fractional investing infrastrucutre, BUX is first broker client

“The launch of fractional investing marks an important new chapter in the normalization of investing in Europe.”

<