Fraudster behind $50m Bitcoin scam that duped UAE investors admits crimes

Pedro Gonçalves
clock • 2 min read

The fraudster behind a $50m bitcoin fraud which duped hundreds of investors around the world and dozens in the UAE faces up to 40 years in prison after confessing his role in the scam. Briton Renwick Haddow was the mastermind behind a sophisticated criminal enterprise selling non-existent office space - known as Bar Works - and operating a fake Bitcoin trading platform. He was captured in Morocco in 2017 and extradited to the US. He has agreed to co-operate with New York prosecutors in an attempt to reduce his sentence after learning he faced 20 years in jail for each count. He had in...

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