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...

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