The U.S Government has for a one-month continuance in the case against Renwick Haddow. He was charged for his involvement in Bitcoin (BTC) scams as well as Ponzi schemes. The continuance which will be held until September 12, this year, will enable the Government to file any additional information regarding the case including an indictment.

According to the filed court documents, the Government reported that its counsel is discussing with Haddow’s counsel regarding the possibility of a disposition of the said case. However, negotiations are still underway and yet to be completed.

Continuance request granted

Earlier in the week, Steward D. Aaron, who is the Magistrate Judge granted the Government’s continuance request. As of June, last year, the charges leveled against Renwick Haddow were still unsealed.

Renwick Haddow who is a U.K citizen was responsible for the Capital Alternatives network of fraudulent companies. He was accused of the Bar Works investment fraud as well as Bitcoin scam. He was a founder of an alleged Bitcoin trading exchange as well as a several co-working spaces. Haddow was accused of defrauding investors. The U.S Securities and Exchanges Commission (SEC) filed a district court action against Haddow on June 30, last year.

Consequently, the commission was able to get an emergency freeze against Haddow’s assets. In April, this year the fraudster was extradited to the U.S from Morocco. He was presented before a Manhattan District Court on April 13, 2018. Thus, Haddow was charged with two counts of wire fraud, one for Bar Works and one for Bitcoin Store. If found guilty he would serve a prison sentence of up to 20 years for each charge.

Soliciting investments

The Briton is accused of soliciting investments through the startup firms he built and managed, from November 2014 until June 2107. Haddow ran the Bitcoin Store, which was an alleged online network for trading and holding cryptocurrency, specifically, Bitcoin. Furthermore, he operated Bar Works which was purportedly a firm that transformed former bars and restaurant premises into a co-working space.

While carrying out his duties in the said businesses, the fraudster misrepresented information regarding the historical performance and management of his purported companies. Moreover, he concealed his identity by adopting a pseudonym, Jonathan Black.