The Southern District Court of New York has rescheduled the sentencing of Ponzi schemer Renwick Hadow once again.
His new sentencing date is November 1, 2024.
The rescheduling reflects a request by the U.S. government to postpone the sentencing review date for defendant Renwick Haddow, who pleaded guilty under a cooperation agreement, by six months.
On December 1, 2022, the government announced the unsealing of an indictment charging two additional co-conspirators, James Robinson and David Kennedy. These conspirators were arrested in Spain and after contesting extradition, have both been extradited to the United States.
Kennedy pleaded guilty and is scheduled to be sentenced on April 29, 2024. Robinson has pleaded not guilty and his case is pending.
The government’s investigation remains ongoing, including through the prosecution noted above, as well as the government’s ongoing efforts to recover funds for victims domestically and in foreign jurisdictions.
The government added:
“The defendant’s active cooperation in the prosecution and recovery of assets is expected to continue for the next six months, but will not be indefinitely.”
Renwick Haddow pleaded guilty on May 23, 2019, to one count of wire fraud and wire fraud conspiracy related to the Bar Works scheme, and one count of wire fraud and wire fraud conspiracy related to the Bitcoin Store scheme – a separate investment scheme involving Bitcoins.
Haddow was accused by the Complaint in June 2017 of engaging in schemes to defraud victims by making material misrepresentations and misappropriating investment funds at Bitcoin Store and Bar Works Inc, as well as related entities he controlled.
From November 2014 to June 2017, Haddow solicited investments in startup companies he created and controlled, including the Bitcoin Store – a purported online platform for buying, selling and storing the digital currency known as “Bitcoin ” – and Bar Works, which is reportedly a company that adapts former restaurants, bar spaces and other locations into co-working spaces. In doing so, Haddow made material misrepresentations about, among other things, the management, operations and historical performance of these companies.
In July 2017, Haddow was arrested in Morocco on a temporary arrest warrant for his involvement in these schemes.