The Bar Works scam harkens to a time and place when entrepreneurs were trying to mimic WeWork. Moore and CEO Renwick Haddow teamed up in 2015 to sell gullible individuals on their coworking idea. They rented locations, including 41 W. 46th St. and 47 W. 39th St., and hustled average investors on their company, whose slogan was “work space with vibe,” and offered beer alongside worker tables.
Moore’s role was to devise and distribute marketing materials that he knew contained falsehoods. To cover up past investment cons and government sanctions, Haddow was identified in pitch books as “Jonathan Black.” Moore repeatedly lied when the SEC and IRS started asking about Black’s true identity.
Investors were assured they were getting a “secure” and “proven” investment in Manhattan real estate with “guaranteed returns” of 12% to 16%. In fact they were getting the right to collect rent from an individual workstation, a highly unstable source of revenue that isn’t profitable for most providers, including WeWork. Prosecutors said Moore and affiliated companies siphoned 65% of investor money.
Moore was convicted at trial in 2019 and his “lengthy sentence sends a clear message that perpetrators of investment fraud will be prosecuted and held accountable,” U.S. Attorney Damian Williams said.
Haddow pleaded guilty to four criminal counts, and prosecutors said he’s been cooperating. He is to be sentenced April 8.
A third defendant, Savraj Gata-Aura,…
