Wine fraudster jailed over £760,000 scam

3rd October, 2012 by Andy Young

A man who conned his friends through fake wine investments has been jailed for three years.

A south London man was jailed after a £760,000 wine scamThe Old Bailey heard how Keith Milton, 42, befriended affluent people before persuading them to invest huge sums of money in wines that simply did not exist.

Milton, a former wine merchant from south London, persuaded 20 people to part with £760,000 over the course of eight years. Milton told his friends that they were investing in fine wines from the Bordeaux and Burgundy regions of France, convincing them they could expect excellent returns on their investments.

As part of his con Milton even created fake portfolios to show his investors the increasing value of the wines he claimed to have bought, as well as detailing the sales he had made.

In 2009 some of the investors demanded to see either the wine or their money and at that point Milton fled to France. He left a letter of confession for his wife and children before making his escape across the channel.

In September last year Milton returned to the UK for a meeting and was arrested by police. The court heard that Milton had not invested in fine wines, but had instead used the money himself and so had nothing to give his investors.

Milton pleaded guilty to fraud by false representation and obtaining a money order by deception and was jailed for three years.

Detective Constable Elliot Toms of the Metropolitan Police’s fraud squad said: “Here is a man whose greed saw him trick supposed friends out of thousands of pounds, and whose cowardice saw him flee when confronted by them. His sentence is well deserved.”

Leave a Reply

Your email address will not be published. Required fields are marked *

Please note that comments are subject to our posting guidelines in accordance with the Defamation Act 2013. Posts containing swear words, discrimination, offensive language and libellous or defamatory comments will not be approved.

Subscribe to our newsletters

New Business Development Manager Nordic

Concha Y Toro
Stockholm, Sweden

Experienced Administrator

The Drinks Business
Central London, UK

Sales Executive (London – Craft Spirits)

Bimber Distillery
London, UK

2 x Buying Assistants

Berry Bros. & Rudd
Battersea and Basingstoke, UK

Temporary Christmas Sales Support - Wines & Spirits

Harrods
Knighsbridge, London, UK

Head of Wholesale

Hispamerchants Ltd
London, UK

Sales Manager

Hispamerchants Ltd
London, UK

The World Bulk Wine Exhibition

Amsterdam,Netherlands
20th Nov 2017

The Drinks Business Green Awards 2017

London,United Kingdom
20th Nov 2017

The Global Spirits Masters Lunch

London,United Kingdom
1st Dec 2017
Click to view more

Green Awards 2017

Deadline : 25th October 2017

The Global Riesling Masters 2017

Deadline : 30th October 2017

Click to view more

Champagne Masters 2017

The only Champagne blind tasting in the UK, the competition will reward the best wines in the following categories:

The Global Rosé Masters 2017

With wines from the palest of pink to almost ruby red, bone dry to almost cloyingly sweet, reductively handled to barrel-aged, as well as gently spritzy to fully sparkling.

Click to view more