In 2017, it was uncovered that the coworking brand Bar Works was leading a Ponzi scheme operation. The investigation into the fraudulent coworking brand landed its first conviction this June.
On Monday, federal prosecutors announced that James Moore has been found guilty of wire fraud and conspiracy for engaging in a scheme to defraud investors after a trial that lasted one week. Moore received over $1.6 million in commissions for misleading investors. Each charge against Moore carries a maximum sentence of 20 years in prison.
The mastermind behind the Bar Works’ scheme is Renwick Haddow, who has agreed to cooperate with the government’s investigation. Haddow was apprehended in Morocco last year and he pleaded guilty in May.