The U.S Securities and Exchange Commission (SEC) has filed to open up a case against Renwick Haddow, Bitcoin (BTC) fraudster as he has not settled the regulator’s claims for financial relief against him.
The agency submitted a letter on December 6 to Judge Lorna G. Schofield of the New York Southern District Court requesting to open up the case against Haddow. Haddow was accused by the Securities and Exchange Commission (SEC) accused of defrauding Bitcoin investors out of over $37 million last year. He was found guilty by the court in June of 2019.
Claims against Haddow
The Securities and Exchange Commission (SEC) notes that the court gave a partial consent judgment on the Bitcoin fraudster( Haddow) in the letter on September 10 2019, after which Judge Schofield closed the case on 5th December
The consent judgment and case closure left its claims for financial penalties unsettled, the Securities and Exchange Commission (SEC) stated. The Securities and Exchange Commission (SEC) expects to either reach an agreement on monetary relief or move to seek financial relief should the court open up the case.
According to a report, Haddow was extradited from Morocco to the United States and appeared in a Manhattan District Court last April. The Department of Justice claimed that from November 2014 to June 2017, Haddow “misappropriated investors funds” and “made false and misleading representations” to investors in Bar Works, Bitcoin Store and related schemes.
Recent cryptocurrency-related crime schemes
The New York Southern District Court ruled in support of the United States government to intercede in a civil case against Jon Barry Thompson, who is charged with “recklessly or knowingly making false representations to customers in connection with the purported purchase of Bitcoins worth over $7 million.”
News bust that a former executive of a Hollywood-based digital marketing firm, Dennis Blieden, had pleaded guilty to identity theft and wire fraud last month. Blieden looted over $22 million from his boss and used the looted funds to buy cryptocurrency, cover personal expenses gamble.