US authorities announce extradition of Bitcoin fraudster

American authorities confirmed today the extradition of the British alleged cryptocurrency fraudster Renwick Haddow from Morocco to the United States.

He was charged with two counts of transfer fraud, each carrying a maximum sentence of 20 years in prison.

Haddow was charged in June last year by the US Securities and Exchange Commission (SEC) for defrauding victims and misappropriating investment funds in Bitcoin Store. In July, Haddow was arrested in Morocco on the basis of a provisional arrest warrant for participating in these schemes. According to reports, Haddow has now been returned to the US.

The SEC alleges that Haddow, who is a British citizen, ran his scheme from November 2014 through June 2017 by soliciting investments in various start-ups he founded, including Bitcoin Store.

“Haddow concealed his interest in Bitcoin Store and fabricated the purported ‘experienced team of leading investment professionals’ working at the company,” the complaint stated. “In connection with Bar Works, Haddow adopted the alias ‘Jonathan Black’ to further hide his role in the schemes. Haddow claimed that ‘Jonathan Black’ had an extensive background in finance and had a role in setting up ‘Car Share,’ a car-sharing app.”

ABOUT THE AUTHOR
Christopher Copper-Ind
Christopher Copper-Ind is Editor of International Investment. He has extensive experience of the publishing industry having worked across the Middle East and Europe. He oversees the content across all its formats together with the business development for International Investment.

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