Bar Works Inc was an investment involving more than 20 scam companies in the USA, the Bahamas, Turkey and elsewhere founded by serial fraudster Renwick Haddow. SOS gathered the investors and evidence enabling a GRA to be started against Central FX, a UK FCA-regulated entity involved in the fraudulent scheme. More than 50 investors are participating in the action with a total claim value in excess of £5 million. The claim is being led by a UK solicitor specialising in financial regulation claims.
Renwick Haddow was a declared bankrupt and a former disqualified director. He was a defendant in a trial brought by the Financial Conduct Authority in the UK, the resulting judgement being an Order for Haddow to pay £16.9m in compensation. During the period between hearings he fled to the United States and established Bar Works Inc with his new wife. The company raised in excess of $36m for a workspace ponzi scheme.
One of his accomplices in the fraud was Jim Moore who was recently convicted in the USA for his part in another investment scam and is now facing charges related to Bar Works Inc. Jim Moore was the master sales agent for the company before switching allegiance to OurSpace, another workspace ponzi scheme which operated out of Dubai. OurSpace was a Bar Works clone run by Kevan Halliwell. It has also collapsed owing almost $30 million to investors. Safe Or Scam is also investigating the OurSpace fraud on behalf of a group of investors.
Safe Or Scam has collected Witness Statements from a sample group of Bar Works investors who used the services of Central FX. The statements question the level of due diligence undertaken by Central FX on Bar Works Inc. It was a Delaware company which was controlled by Renwick Haddow since incorporation. With his known history and highly publicised involvement in scam investments, investors are asking how that was missed by Central FX. Since the case was taken up by the UK solicitor, Haddow has been arrested in Morocco and extradited to the USA, and courts in the US have ruled that Bar Works Inc was a ponzi scheme.