Bar Works mastermind Renwick Haddow arrested in Morocco

Interpol issued notice about alleged British fraudster on July 17

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

Renwick Haddow

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 Article

arrow_forward_ios

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

Larry Silverstein and the Tel Aviv Stock Exchange (Credit: Getty Images)

Institutional investors swarm Silverstein’s new TASE bonds

Real estate firms get (green) thumbs down as they jump into climate bonds

With Fed rate cut on the mind, markets enter the week riding high

(Illustration by Carl Wiens)

NYC’s foreign investment landscape in the era of trade wars and heightened nationalism

New York Community Bank CEO and president Joseph Ficalora (Credit: Facebook, iStock)

Freed by Dodd-Frank, NYCB is on the hunt for M&A deals

Lightstone Group Chairman and CEO David Lichtenstein and the Tel Aviv Stock Exchange (Credit: Lightstone and iStock)

Lightstone becomes third NYC developer in a week to plan new Tel Aviv bond issuance, targeting $73M

arrow_forward_ios