Skyrocketing crypto prices have definitely brought the field under the spotlight in late 2017 but the truth that the field has always been favored by resourceful and tech-savvy criminals. Renwick Haddow is one such individual, who’s been charged with two separate counts of running and engaging in schemes to defraud victims.

His main weapon of choice, of course, are words. By misappropriating investment funds and making misrepresentations, Haddow has lured in countless into pouring their hard-earned money into shallow Ponzi schemes.


Two counts of wire fraud – that’s what Haddow is being charged with, as reported by Finance Feeds. The schemes the fraudster has been running span from November 2014 through June 2017.

The first one is related to one of his entities – the Bitcoin Store. Haddow made definitive misrepresentations, including but not limited to fabrication of an “experienced team of leading investment professionals” who were employed and advising at the company.

The second charge is related to another scheme ran by the defendant, called the “Bark Works”. To solicit investment, the defendant adopted an alias “Jonathan Black”, furthering his misappropriation and fraudulent statements, scamming people out of their money.


200 Chinese investors, defrauded by the aforementioned actions of Haddow, have also pressed charges against JPMorgan Chase & Co and JPMorgan Chase Bank, N.A, accusing them of aiding the Ponzi scammer on the grounds of the bank ‘turning a blind eye’ of high-risk transactions frequented by Haddow. By doing so, the bank is accused of aiding the scammer in his illicit activities.

However, the legal team of the bank has been quick on its feet, arguing that no assistance has been provided on behalf of the bank to Haddow as the provision of ordinary banking services such as creating accounts or allowing transfers and withdrawals are far from constituting fraudulent activity.


US authorities confirmed the legitimacy of the extradition request for Haddow. At the same time, the Securities and Exchange Commission (SEC)’s charges against three companies ran and controlled by the fraudster have been confirmed and ruled by the court. The entities Bar Works 7th Avenue, Inc, Bar Works, Inc, and Bitcoin Store, have been sentenced to pay as much as $83 million to the SEC.