Wine firms that preyed on fraud victims shut down

21st May, 2014 by Lauren Eads

Two London-based wine firms that worked together to cheat defrauded wine investors out of more money by claiming they could help recover their losses have been shut down.

Court house

Capital Bordeaux Investments Limited targeted the victims of previous wine investment scams and falsely claimed it could assist them in recovering their losses.

Instead, the company encouraged further investment based on misleading information, without having bought or sold any wine, raking in more cash from its victims.

Its partner company, Capital Bordeaux Investment Corporate Limited, facilitated the scam by allowing its bank account to be receive £243,980 in sham investments.

The High Court ordered the closure of both companies on 14 May in the public interest following an investigation by the Insolvency Service which found no evidence that either company had bought any wine, nor made any attempt “or had any ability to” recover the previous losses suffered by investors.

Colin Cronin, investigation supervisor with the Insolvency Service, said: “These companies cynically targeted people who had already lost money in other wine investment scams and exploited their desire to try and recover some of their original investment. The companies were incapable of recovering such losses.

“Significantly, none of the funds received from investors were used to buy wine and were instead used for the benefit of those in control of the companies.

“I would urge victims of wine investment scams to exercise great caution if approached by companies which purport to be able to assist in recovering their past losses.”

Capital Bordeaux Investments Limited was incorporated on 24 April 2012. Capital Bordeaux Investment Corporate Limited was incorporated on 12 October 2012. The registered office of each company was at 68 Lombard Street, London EC3V 9LJ.

Leave a Reply

Your email address will not be published.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

Subscribe to our newsletters

Job vacancies

Beer Development Specialist

Matthew Clark
London, UK

Fine Wine Sales Administrator

Davy's Wine Merchants
London, UK

Business Development Manager - On Trade

FINE+RARE
Central London, GB

Regional Sales Manager

Swallow Associates Ltd
Home Based: North-West England, UK

London Account Manager Role (Full Time)

LITTLE BIRD GIN
Home based with UK travel. , GB

Sales Operations Manager

Bibendum PLB
London, UK

Digital Marketing Executive (online content & community manager)

Corney & Barrow Limited
London E1W (near Tower Bridge), UK

Store Manager – Premium Drinks

Amathus Drinks PLC
London, UK

On-Trade Regional Sales Manager

Anthony Byrne Fine Wines
London and the South East, UK

Wine Sales – Northwest England

Gerrard Seel
North West England

Senior On-Trade Sales Manager – English Sparkling Wine Company

COREcruitment
London based with national travel, UK

National Account Manager – RTM – On Trade

COREcruitment
Home based with frequent UK travel

The Global Sparkling Masters 2017

Deadline : 14th June 2017

The Global Syrah Masters 2017

Deadline : 14th June 2017

The Global Malbec Masters 2017

Deadline : 14th June 2017

The Global Beer Masters 2017

Deadline : 1st August 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