Investors Call Coworking Startup Bar Works A Ponzi Scheme

Law360, New York (June 22, 2017, 9:11 PM EDT) -- Bar Works, a startup that purports to be in the shared-workspace business, is now the subject of at least two lawsuits from investors who call it a multimillion-dollar Ponzi scheme.

A Bar Works storefront in New York City's West Village neighborhood, pictured June 22. (Law360) The latest case, filed Wednesday in Florida federal court, says the company raised at least $25 million and immediately defaulted on its obligations, and that it hid the role of an accused Ponzi schemer in its business.

That case comes on the heels of a previously unreported complaint filed June 16 in New York state court...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!