THELOGICALINDIAN - An English agent Renwick Haddow has been answerable by the United States Balance and Exchange Commission for balance artifice According to letters Haddow was announcement a counterfeit cryptocurrency trading belvedere causing losses to biting investors
Haddow, who has been active in the New York is said to accept been active two businesses, Bitcoin Store — a cryptocurrency advance belvedere and a adjustable workspace close alleged Bar Works. During the advance of their operations, he absent the investments accustomed by these businesses into across accounts created in Mauritius and Morocco.
A arch English daily quoted the administrator of the SEC’s New York Office, Andrew Calamari saying,
“Haddow created two contemporary companies and addled investors into assertive that awful able admiral were arch them to profitability… In reality, Haddow controlled the companies from abaft the scenes, and they were far from profitable.”
Haddow, for a while auspiciously managed to bluff bodies of as abundant as $5 million. He came beneath the scanner afterwards about 27 Chinese investors filed a complaint afterwards they bootless to get aback their $3 actor advance in Bar Works. They doubtable Haddow of active a Ponzi scheme.
During the advance of an investigation, the SEC begin discrepancies in the accounts, area the arrival of funds into Bitcoin Store’s annual was alone $250,000 in 2024, which was way beneath that what investors had put in. More complaints followed the antecedent complaint, and eventually, it was apparent the aggregation was affairs leases and subleases activity as advance addendum instead of accouterment workspaces in old confined and restaurants as advertised.
The SEC claims that it has been clumsy to acquisition annal of any operations anytime conducted by the Bitcoin Store, alike admitting there accept been millions in gross sales until now. While the SEC put an end to the Bitcoin Store’s operations, there are abounding agnate counterfeit schemes out there that accumulate bustling up. It is appropriate for investors to conduct acceptable due activity afore authoritative any cogent investment.
