Wine investment firm that hired Wolf of Wall Street shut down

28th February, 2014 by Lucy Shaw

A UK-based wine investment firm that hired the “Wolf of Wall Street”, Jordan Belfort, to give a motivational seminar has been shut down in the public interest.

Leonardo DiCaprio playing Jordan Belfort in The Wolf of Wall Street

Leonardo DiCaprio playing Jordan Belfort in Martin Scorsese’s The Wolf of Wall Street

As reported by the Mirror, Bordeaux Fine Wines was closed by the High Court on Wednesday following a petition from the UK government’s Insolvency Service.

Law firm Edwin Coe supported the liquidation of the BFW, which took place in December, on behalf of creditors owed in the region of £3m.

Partner David Greene said: “It is clear that the company has very little wine to meet the demands of customers with a shortfall possibly of £12 million.” The Metropolitan Police is currently investigating the matter.

Judge Mrs Registrar Derrett said that the firm’s 30-year-old director, Kenneth Gundlach, “appeared to treat the company account as his own bank account”.

During his time as director, Gundlach splashed out on a mansion in Surrey and a fleet of race horses.

While the company turned over nearly £20m in 2012, just £200,000 of wine is known to be stored for investors.

Working only on commission, Bordeaux Fine Wines’ sales team dramatically inflated wine prices when pitching on the phone to potential investors.

The sales reps, who worked out of an office in Croydon often using false names, allegedly knew “next to nothing” about the wines from Bordeaux and other fine wine producing regions around the world that they were selling.

The Mirror reports that Gundlach paid around £50,000 to the so-called “Wolf of Wall Street”, Jordan Belfort, to give staff a two-day motivational seminar.

Convicted fraudster Belfort is now the subject of the Martin Scorsese film, The Wolf of Wall Street, starring Leonardo DiCaprio as Belfort.

The film has been nominated for five Oscars, including Best Picture, Best Director, and Best Actor for DiCaprio.

2 Responses to “Wine investment firm that hired Wolf of Wall Street shut down”

  1. Wilco says:

    Why is it that these bogus wine investment scams
    are primarily located in the UK? Is it the greed of the founders or that of the investors.

  2. Wine Crates says:

    Wall Street boiler room mentality meets the wine industry. Scary!

    Short-term profits at the expense of ethical behavior never equals long-term success. It’s too bad there’s still people out there that overlook this basic principle.

    Patrick
    http://www.winepine.com

Leave a Reply

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

Subscribe to our newsletters

Job vacancies

Administrative Assistant

Swig Wines Ltd
Chiswick, London, UK

HR Manager

Amathus Drinks PLC
London, UK

Beer Development Specialist

Matthew Clark
London, UK

Senior Sales Manager

Haynes Hanson & Clark
Gloucestershire, GB

Customer Services Administrator

Speciality Drinks Ltd
London, UK

National Business Development Manager

Speciality Drinks Group
London, UK

Inventory Analyst

Bibendum PLB
London, UK

Events Executive - Atom Supplies

ATOM Supplies Limited
London, UK

Off-Trade Sales Account Executive

Domaine Direct
Nationwide, working from a combination of home & London office.

Sales Executive/Brand Ambassador

Glenfarclas
Ballindalloch, Speyside, UK

Client Manager

Noble Rot
Wandsworth, London, GB

Spirits Investment Director

Stilnovisti
London, UK

Junior Brand Manager

Enotria Winecellars
Park Royal, London, UK

Content & Digital Assistant

ABVGlobal
London, UK

Sales Manager

Cellar Trends
London, UK

Champagne Masters 2017

Deadline : 7th July 2017

The Global Sparkling Masters 2017

Deadline : 10th July 2017

The Global Malbec Masters 2017

Deadline : 10th July 2017

The Global Syrah Masters 2017

Deadline : 18th July 2017

Click to view more

The Drinks Business Awards 2017

Now in its 15th year, the db awards have become the most authoritative, internationally respected badge of achievement in the alcoholic drinks industry.

The Asian Cabernet Sauvignon Masters 2017

the drinks business Hong Kong announces its first year of The Asian Cabernet Sauvignon Masters.

Rioja Masters 2016

Now in its fifth year, the competition will recognise and reward the finest Riojas on the world stage.

Fortified Masters 2016

Now in its third year, The Fortified Masters will reward the best fortified wines on offer.

Click to view more