The Financial Conduct Authority (FCA) has commenced criminal proceedings against Stephen Allen following an investigation.

The authority is charging Allen with conspiracy to pervert the course of justice.

It is alleged that between 21 July 2014 and 6 July 2017, Allen conspired with Renwick Haddow to pervert the course of justice by disguising Haddow’s interest in the property known as 13 Brook Mews, London W2 3BW, and its availability as an asset.

FCA highlights continued support for homeowners

Allen gave no indication as to his plea and the case was sent to Southwark Crown Court for a Plea and Trial Preparation Hearing on 25 November 2020.

Haddow has previously participated in illegal activity, having helped establish an international Ponzi scheme in a co-working space company called Bar Works.

The scheme had over 800 victims worldwide who invested more than $50m in co-working space. However, the company primarily only existed on paper.

The chief executive of Bar Works was allegedly named Jonathan Black; however, it was discovered that Black did not exist and the company was actually being run by Haddow, who had previously gained notoriety for operating multiple widely publicised Ponzi schemes.