1 year, 3 months ago

British man charged with running $100m wine Ponzi scheme

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. The indictment alleges that from at least June 2017 and continuing through February 2019, Mr Birton and Mr Wellesley solicited investors, including residents of the Eastern District of New York, at, among other places, investor conferences held in the United States and overseas. Bordeaux Cellars allegedly had custody of thousands fewer wines than loan documents reflected, including wine from Domaine de la Romanee-Conti in Burgundy and Chateau Lafleur in Bordeaux, court papers obtained by Reuters showed. The defendants promised that investors would receive regular interest payments from the borrowers, and that Bordeaux Cellars would keep custody of the wine, securing the loans while the loans were outstanding. “With the successful extradition of Burton to the Eastern District of New York, he will now taste justice for the fine wines scheme alleged in the indictment,” stated United States Attorney Breon Peace.

The Independent
New York Investors Burton Mr Burton Bordeaux Cellars Wine Bordeaux
Solicitor 'conned victims into investing thousands in wine scam'
8 years, 11 months ago

Solicitor 'conned victims into investing thousands in wine scam'

Daily Mail
Investing

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