30 Jun '17, 10pm

SEC Files Fraud Suit Against Bitcoin Startup Owner

The US Securities and Exchange Commission has filed fraud charges against a UK citizen accused of bilking the investors of a bitcoin startup. According to court documents filed today, the SEC accused Renwick Haddow of misleading stakeholders who bought into two companies he founded: Bitcoin Shop Inc., which was advertised as a platform for trading bitcoin, and Bar Works, a co-working space company akin to WeWork. Concurrently, the US Attorney's Office for the Southern District of New York is also pressing charges against Haddow. The SEC alleged that Haddow, who resides in New York, misrepresented key factors about the company's operation and the background of senior executives of Bitcoin Store Inc. who, according to the statement, "do not appear to exist" in an attempt to to allure potential investors. Haddow – who the SEC said created a broker-dealer firm, called InCrowd ...

Full article: http://www.coindesk.com/sec-files-fraud-suit-bitcoin-star...

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