Bar Works mastermind Renwick Haddow arrested in Morocco

Interpol issued notice about alleged British fraudster on July 17

New York /
Jul.July 28, 2017 04:40 PM

Renwick Haddow, the elusive mastermind behind the alleged co-working Ponzi scheme Bar Works, was arrested in Morocco Wednesday. Authorities in Tangiers detained him in response to a July 17 notice by Interpol, the Daily Mail reported.

A court in Morocco will now decide whether Haddow can be extradited. U.S. Authorities had unveiled an arrest warrant for Haddow on June 30.

Haddow’s arrest comes seven months after The Real Deal first exposed his role in Bar Works. Prosecutors accuse him of bilking investors from around the globe out of close to $37 million.

New York-based Bar Works raised money from investors by telling them they were buying desks in its co-working spaces and promising double-digit returns. Haddow, who has been accused of running Ponzi schemes in the past, carefully hid his involvement, installing his Ukrainian wife as a co-founder under an assumed name.

“Haddow created two trendy companies and misled investors into believing that highly-qualified executives were leading them to quick profitability,” the SEC’s New York director Andrew Calamari said in a statement last month. “In reality, Haddow controlled the companies from behind the scenes and they were far from profitable.”

Earlier this month, TRD published an investigation into Bar Works and the rise of online real estate fraud. [Daily Mail] — Konrad Putzier


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)
Real estate stocks push up this week as U.S.-China trade tensions ease
Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Seth Weissman, Financing
Urban Standard wants to rescue property owners from high interest rates
Urban Standard wants to rescue property owners from high interest rates
Harbor Group International CEO Jordan Slone (Getty, Harbor Group, YouTube)
Jordan Slone and his $1.6B want to fund your rentals
Jordan Slone and his $1.6B want to fund your rentals
A photo illustration of KKR’s Billy Butcher (Getty, KKR)
KKR clamps down on REIT withdrawals, joining Blackstone, Starwood
KKR clamps down on REIT withdrawals, joining Blackstone, Starwood
Joseph Chetrit (Illustration by The Real Deal with Getty)
Struggling with $481M loan, Joe Chetrit looks to sell national portfolio
Struggling with $481M loan, Joe Chetrit looks to sell national portfolio
From left: Vornado’s Steve Roth and Andrew Penson with 1601 Broadway
Crowne Plaza Times Square Hotel owners file for bankruptcy
Crowne Plaza Times Square Hotel owners file for bankruptcy
Emerald Equity Group's Isaac Kassirer with 350 Manhattan Avenue (Emerald Equity Group, Google Map, Getty)
$45M in loans linked to Isaac Kassirer’s Emerald Equity sold
$45M in loans linked to Isaac Kassirer’s Emerald Equity sold
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...