Renwick Haddow, the mastermind behind the alleged co-working Ponzi scheme Bar Works, has been extradited to the U.S., federal prosecutors announced Friday.
Crain’s reported that he appeared in court the same day.
The U.S. Attorney’s office for the Southern District of New York and the Securities and Exchange Commission filed separate charges against Haddow in June, accusing him of cheating Bar Works investors out of $37 million. He is also accused of defrauding investors in a separate venture, Bitcoin Store. In July, Moroccan police arrested him Tangiers. In December, the SEC announced that Haddow had agreed to be extradited.
Bar Works, a New York-based co-working company, sold securities tied to the rental income from its desks around the globe. Haddow, a British national and accused career fraudster, hid his involvement in the company behind a fake name. The Real Deal first exposed his role in the startup in January 2017.
In July, TRD published an in-depth investigation into Bar Works and the rise of online real estate fraud. — Konrad Putzier