Acker pays out to billionaire Koch

17th July, 2014 by Rupert Millar

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Your email address will not be published.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

Job vacancies

UK Brand Ambassador - That Boutique-y Gin Company

That Boutique-y Gin Company
Tunbridge Wells, Kent, UK

Senior National Account Manager – Grocery (Craft Spirits)

Maverick Drinks
Tunbridge Wells, Kent, UK

Senior National Account Manager – Wholesale RTM (Craft Spirits)

Maverick Drinks
Tunbridge Wells, Kent, UK

Digital Marketing Manager

Master of Malt
Tunbridge Wells, Kent, UK

Experienced On Trade Sales Person

Borough Wine Imports
London, GB

3 x Business Development Executive

The Lakes Distillery Company Limited
Newcastle head office and nationwide, UK

Editor

Master of Malt Ltd
Tunbridge Wells(Kent)

Sales Account Manager - On-Trade

Berkmann Wine Cellars
Liverpool

Brand Manager

Hallgarten Druitt
Luton, UK

Experienced On-Trade Salespeople Required

Portal Wines and Spirits
London, UK

Purchasing and Sales (Wine Trader)

JF Tobias
London, UK

Sales Account Manager - On-Trade

Berkmann Wine Cellars
Cambridge / Peterborough / Bedfordshire, UK

The Global Merlot Masters 2017

Deadline : 17th April 2017

db Awards 2017

Deadline : 28th April 2017

The Global Organic Masters 2017

Deadline : 14th April 2017

The Global Sparkling Masters 2017

Deadline : 12th May 2017

Click to view more

Global Chardonnay Masters 2016

Now in its fourth year, the competition will identify the best Chardonnay from all around the world in every price range.

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.

The Global Malbec Masters 2016

the drinks business is proud to announce the inaugural Global Malbec Masters 2016.

Click to view more