Termination of Employees under the Labor Code.pptx
5-6-24 David Kennedy Article Law 360.pdf
1. Portfolio Media. Inc. | 230 Park Avenue, 7th Floor | New York, NY 10169 | www.law360.com
Phone: +1 646 783 7100 | Fax: +1 646 783 7161 | customerservice@law360.com
British National Admits To Coworking Business Ponzi
Scheme
By Elliot Weld
Law360 (May 6, 2024, 1:50 PM EDT) -- A British citizen pled guilty Friday in Manhattan federal court
to participating in a scheme to solicit investments using fraudulent misrepresentations about a
coworking company where he was a principal.
James Robinson pled guilty to wire fraud conspiracy before U.S. Magistrate Judge Barbara Moses. His
co-defendant David Kennedy, also of the United Kingdom, pled guilty to one count of wire fraud
conspiracy in October. Both were arrested in Spain in November 2022 and extradited to the United
States.
Prosecutors said Robinson and Kennedy conspired with fellow British citizens Renwick Haddow and
James Moore to fraudulently solicit investments for leases in New York City coworking space Bar
Works through their real estate company United Property Group.
Haddow pled guilty in 2019 to wire fraud and wire fraud conspiracy related to both the Bar Works
scheme and a separate bitcoin-related investment scheme, and is scheduled to be sentenced Nov. 1.
Moore was convicted of wire fraud and wire fraud conspiracy at a 2019 trial and sentenced to 140
months in prison.
"James Robinson and David Kennedy partnered with notorious fraudster Renwick Haddow and used
their agent network in Spain to launch a massive Ponzi scheme that lured hundreds of unsuspecting
investors from around the world, all in exchange for massive commissions," Manhattan U.S. Attorney
Damian Williams said in a statement. "Today's plea signifies this office's commitment to hold
accountable every perpetrator of fraudulent investment schemes, no matter where they operate."
An attorney for Robinson declined to comment Monday. Counsel for Kennedy did not immediately
respond to requests for comment.
UPG was based in Spain and sold real estate investment opportunities to investors, according to
prosecutors. Bar Works was a coworking space that operated in New York between 2015 and 2017
that was started by Haddow. Prior to starting Bar Works, Haddow was banned from acting as director
of a company in the U.K. for eight years and was sued by the British Financial Conduct Authority for
operating other investment schemes, prosecutors said.
Robinson and Kennedy conspired with Moore and Haddow to solicit investments by misrepresenting
the identity of Bar Works' management and its operations, prosecutors said. Haddow's name was
concealed from investors and they were instead shown a fictional person named "Jonathan Black,"
who was purported to be the CEO of Bar Works with a background in finance, prosecutors said.
Robinson and Kennedy hired a team of agents to market investments and distribute information
touting "Jonathan Black" and claiming that the defendants had met him in New York as part of UPG's
due diligence in vetting Bar Works, according to prosecutors. Investors say they were deceived about
Bar Works' supposed profitability and the locations they invested in, some of which only existed on
paper.
According to indictments against Robinson and Kennedy, an account held by the defendants received
$2 million in commissions from Bar Works "in exchange for soliciting victims to invest at least
approximately $7.5 million in this scheme."
5/10/24, 11:42 AM British National Admits To Coworking Business Ponzi Scheme - Law360
https://www.law360.com/articles/1833558/print?section=corporate-crime-uk 1/2
