Acker pays out to billionaire Koch

US auction house Acker Merrall & Condit has paid a “substantial sum” to billionaire wine collector Bill Koch in an out of court settlement.

Koch-640x360Koch (pictured) has been pursuing the auction house since 2008, claiming US$4.2 million in damages having bought (he claims) over 200 fake bottles from the house between 2005 and 2006 for over $2.1m.

The amount paid by Acker was not disclosed but was merely described as “substantial”, while the auction house added it was “extremely pleased” to have settled the matter.

The house added it would now allow buyers to return bottles suspected of being fake and it will authenticate wines older than 1969.

Acker has come under scrutiny lately because of the Rudy Kurniawan case. The convicted wine fraudster sold a great many of his counterfeit wines through the auction house to which he was in debt to the tune of millions of dollars.

Koch testified at the trial explaining that he believed a great many bottles of Burgundy he bought had been consigned by Kurniawan.

Koch has a further lawsuit against Kurniawan who is still waiting to be sentenced following the fraud case brought against him by the FBI.

The billionaire has spent more than $20m in his anti-fraud “crusade” and was recently filmed breaking down on television as he explained how he felt like a “sucker”.

Leave a Reply

Your email address will not be published.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

Subscribe to our newsletters

Marketing Executive

Harviestoun Brewery
London, UK

Head Distiller

Little Bird Gin
London, UK

Events Assistant

Speciality Drinks
Park Royal, London, UK

Digital Sales & Marketing Executive

Roberson Wine
London, UK

Brand Marketing Manager

Maverick Drinks
London, UK

PR and Communications Manager

Maverick Drinks
London, UK

Various Sales Roles

Amathus Drinks Plc
Bristol, Cardiff, Cornwall, Devon, Leeds and Birmingham

Assistant Buyer

Liberty Wines
London, UK

Partner Development Manager

Maverick Drinks
Tunbridge Wells, UK

The City Wine & Spirits Show

London,United Kingdom
12th Oct 2018
Click to view more

The Global Malbec Masters 2017

the drinks business is proud to announce the inaugural Global Malbec Masters 2017

The Global Sparkling Masters 2017

the drinks business is thrilled to announce the launch of The Global Sparkling Masters.

Click to view more