Future of work newsletter free subscription Future of work newsletter free subscription Future of work newsletter free subscription
  • Marketplace
  • Resources
  • Business Directory
  • Events
  • Advertise
  • Brand Pulse
  • Publish a Press Release
  • Get the Newsletter
  • Contact
  • About Us
The FUTURE OF WORK® since 2003
Allwork.Space
No Result
View All Result
Subscribe
  • More
    • Columnists
      • Dr. Gleb Tsipursky – The Office Whisperer
      • Nirit Cohen – WorkFutures
      • Angela Howard – Culture Expert
      • Drew Jones – Design & Innovation
      • Jonathan Price – CRE & Flex Expert
    • Get the Newsletter
    • Events
    • Advertise With Us
    • Publish a Press Release
    • Brand PulseNew
    • Partner Portal
  • Latest News
  • Business
  • Leadership
  • Work-life
  • Career Growth
  • Tech
  • Design
  • Workforce
  • Coworking
  • CRE
  • Podcast
  • More
    • Columnists
      • Dr. Gleb Tsipursky – The Office Whisperer
      • Nirit Cohen – WorkFutures
      • Angela Howard – Culture Expert
      • Drew Jones – Design & Innovation
      • Jonathan Price – CRE & Flex Expert
    • Get the Newsletter
    • Events
    • Advertise With Us
    • Publish a Press Release
    • Brand PulseNew
    • Partner Portal
  • Latest News
  • Business
  • Leadership
  • Work-life
  • Career Growth
  • Tech
  • Design
  • Workforce
  • Coworking
  • CRE
  • Podcast
No Result
View All Result
Subscribe
Allwork.Space
No Result
View All Result
Advertisements
Workspaces Run Better On UltraSoftBIS
Home Business

Is Rapidly Rising Bar Works Leading a Ponzi Scheme Operation?

Cecilia Amador de San JosébyCecilia Amador de San José
April 26, 2017
in Business
Reading Time: 2 mins read
A A
Bar works ponzi scheme

More stories for you

The Real Reason Coworking And Flex Spaces Struggle To Make Money

The Real Reason Coworking And Flex Spaces Struggle To Make Money

1 day ago
WeWork Returns to NYC with First New Location Since 2019

WeWork Returns to NYC with First New Location Since 2019

1 day ago
Mail Compliance Made Simple What Every U.S. Coworking Operator Should Know

Mail Compliance Made Simple: What Every U.S. Coworking Operator Should Know

2 days ago
Coworking Explodes Across EMEA, Tripling In Size As Hybrid Work Reshapes Office Demand

Coworking Explodes Across EMEA, Tripling In Size As Hybrid Work Reshapes Office Demand

5 days ago

Last week, the REDD-Monitor reported that flexible workspace provider Bar Works “has been facing difficulties with its banking facilities”. According to the article, earlier this month (April), Franklin Kinard, Bar Works’ Managing Director, sent a message to investors explaining the ‘banking difficulties’ and how these have led to “a significant increase in banking costs”. The difficulties has also forced the flexible workspace organization to change banking partners.

The issue at hand is not so much the banking difficulties, but the reason behind them and even more importantly, why it’s been necessary for Bar Works Coworking to change banking partners. Is the bank forcing a closure on the account? Has the bank frozen funds? Is Bar Works under investigation? Is the bank concerned about a possible scam? Or has Bar Works Coworking simply run out of money?

Advertisements
Nexudus - Tech Stack Lovers

For a company that states that they can offer investors a ‘bullet-proof’ model, the current situation raises many questions, casts a doubtful light, and has many hypothesizing about what is truly going on with the coworking company.

Based on Bar Works ROI model, REDD-Monitor’s theory is that Bar Works could potentially be leading a Ponzi scheme operation.

Advertisements
Nexudus - Tech Stack Lovers

Investopedia defines a Ponzi scheme as: “a fraudulent investing scam promising high rates of return with little risk to investors. The Ponzi scheme generates returns for older investors by acquiring new investors.”

Image taken from REDD-Monitor

REDD-Monitor expands on the Ponzi scheme with the following explanation:

“It’s always good to remind ourselves what Offshore Alert’s David Marchant has to say about investment schemes that show this sort of return:

As an investigative reporter, the easiest financial crime for me to detect is a Ponzi scheme. Any investment scheme with a performance chart that is essentially a diagonal line trending upwards with little or no meaningful variation over many months is a Ponzi scheme, and, as such, doomed to failure.”

Whether or not Bar Works is leading a fraudulent operation remains to be seen. Nonetheless, their current banking difficulties are only an early sign that their model isn’t as ‘bullet-proof’ as they made it out to be.

Advertisements
Workspaces Run Better On UltraSoftBIS

As for the investors, Jonathan Price of Business Centre Capital Co Ltd suggest that they be really careful and do proper due diligence before committing any funds to new and unproven ventures.

Read the full REDD-Monitor article and analysis here.

Advertisements
Subscribe to the Future of Work Newsletter
Tags: Coworking
Share6Tweet4Share1
Cecilia Amador de San José

Cecilia Amador de San José

Cecilia is an experienced writer and editor with a background in strategic communications. She has written articles for Allwork.Space on several topics, including the future of work, flexible workspaces, employee wellness., and more.

Other Stories Recommended For You

The Real Reason Coworking And Flex Spaces Struggle To Make Money
Coworking

The Real Reason Coworking And Flex Spaces Struggle To Make Money

byHarun Biswas
1 day ago

Coworking spaces struggle with hidden costs and need tech and cost visibility to stay profitable.

Read more
WeWork Returns to NYC with First New Location Since 2019

WeWork Returns to NYC with First New Location Since 2019

1 day ago
Mail Compliance Made Simple What Every U.S. Coworking Operator Should Know

Mail Compliance Made Simple: What Every U.S. Coworking Operator Should Know

2 days ago
Coworking Explodes Across EMEA, Tripling In Size As Hybrid Work Reshapes Office Demand

Coworking Explodes Across EMEA, Tripling In Size As Hybrid Work Reshapes Office Demand

5 days ago
Advertisements
Yardi Kube automates flex and coworking operations
Advertisements
Nexudus - Tech Stack Lovers

Unlock your competitive edge in tomorrow's workplace.

Join a community of forward-thinking professionals who get exclusive access to the latest news, trends, and innovations that are shaping the future of work.

©2024 Allwork.Space News Corporation. All Rights Reserved.

Exploring the Future Of Work® since 2003.

Advertise   Newsletters   Privacy Policy   Terms Of Use   About Us   Contact   Submit a Press Release   Brand Pulse   Podcast   Events   

No Result
View All Result
  • Home
  • Latest News
  • Topics
    • Business
    • Leadership
    • Work-life
    • Workforce
    • Career Growth
    • Design
    • Tech
    • Coworking
    • Marketing
    • CRE
  • Podcast
  • Events
  • About Us
  • Solutions
    • Advertise | Media Kit
    • Publish a Press Release
    • Brand Pulse
Subscribe

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00