Scaffolder faces jail over fine wine scam

A wine company boss who conned collectors out of hundreds of thousands of pounds and stole their fine vintages in a sophisticated scam that “preyed on vulnerable and elderly victims” is facing jail.

Embassy Wine UK Ltd ran the scam from June 2011 to October 2014

Jonathan Piper, who is now working as a scaffolder, was the mastermind behind Embassy Wine UK Ltd, which claimed to act as brokers for investors in fine wine.

As reported by The Telegraph, the company would cold-call prospective clients and persuade them to hand over their collections, who would then sell-off the bottles and disappear with the money.

The clients were also made to pay fees before handing over control of their collection, with victims said to have taken out bank loans, credit cards and cashed in pensions to pay the fees.

At least five people lost up to £300,000 in the scam – which operated between June 2011 and October 2014 – with one victim conned into handing over £150,000 in life savings.

Piper used the cash to buy a BMW X6 and Range Rover Sport. None of the income generated was declared to HMRC, with taxpayers also swindled out of £51,104.

Piper, of Wanstead, east London, appeared at Snaresbrook Crown Court on Tuesday, where he had been due to stand trial accused of fraud by false representation, cheating the Inland Revenue, fraudulent trading and two counts of converting criminal property. He subsequently admitted to cheating the Inland Revenue, fraudulent trading and two counts of converting criminal property.

Piper was remanded in custody and will be sentenced on 16 September.