Fraud trial@St Albans: tube strike and weather KOs visit

Apologies to anyone awaiting news on the trial's progress. It was my intention to go to court this morning as the trial was due to resume at 10.30. Unfortunately the 9.45 from London Bridge to St Albans was cancelled and the 10.00 wasn't expected to arrive until 10.27, so I wouldn't have got to court until around 11.30. Unfortunately I doubt if I now have time to get up there until next Tuesday,  

Fraud trial@St Albans: the jury have a week off

The jury has this week off because Oseghale Hayble, one of the defendants, has gone to the Whittington Hospital in north London as his sickle cell anaemia has apparently returned. The trial is due to resume on Monday 29th November.

I understand that Craven and Cashman have completed their eveidence and that Hayble's barrister has indicated that his client will not be giving evidence. Moruthoane and Linskill have yet to give their evidence. Once they have done so, it will be time for the closing speeches from the prosecution and the five defendants' barristers before Judge Plumstead sums up and issues directions to the jury. My guess is that the trial is now unlikely to finish before the week beginning 6th December.   

Seale Wines: message from the Met

I understand that the Metropolitan Police are investigating Seale Wines Ltd. They would welcome details from any clients of Seale Wines Ltd. In the first instance the investigating team would like to know from clients the date of any transactions and how much money they paid.  

I'm happy for any clients of Seale Wines Ltd to contact me and I will forward your emails to the Met. You can be assured that I will not publish them. My email is budmac@btinternet .com

New scam: hijacking the good name of reputable wine companies

I'm very happy to post details of this new scam that Lionel Nierop of Bid for Wine has brought to my attention. Although not all the 'modi operandi' of this scam are not fully apparent at present, it appears to be similar to the scams that target European producers, particularly in France, attempting to secure consignments of wine without paying for them using the names of legitimate companies.

If anyone has any information about callers hijacking a legitimate company’s good name please email me on budmac@btinternet.com

Once again this is another warning that cold calls are bad news.

Just freeze out cold callers.

Remember that no company authorized by the Financial Services Authority can use cold calls.

From Lionel Nierop, managing director – Bid for Wine:

Wine Investment Cold Calls – a Warning

I’d like to draw to the attention of readers of investdrinks to what appears to be a new scam in the already murky world of wine investment – namely hijacking the name of an established business. The fraudsters then use the name to sell wines for investment, presumably with the intention of pocketing investors’ funds and leaving the legitimate business taking the heat.

I became aware of the ‘scam’ yesterday evening after I was emailed by a gentleman wishing to complain about several cold calls made to him, ostensibly by one of my employees. The caller was apparently rude and persistent.

The email was a surprise and puzzled me for several reasons:

- Firstly we do not solicit for business by cold-calling.
- Secondly we have no employee with the name I was given.

- Thirdly I am deeply sceptical about wine investment in general. This stems from regularly having to auction off stock at for people who have been mis-sold wines as being suitable for investment and have then seen the deal gone sour. I would always advise anyone considering putting their money in to wine to look beyond the sales pitch and, if still convinced, only to consider purchasing wines as from serious, ‘blue chip’ merchants (see Jim Budd’s list).

I am sure that we at Bid for Wine (www.bidforwine.com) are not the only ones who are having our name misused in this manner and I would urge the trade to be vigilant and anyone being contacted by cold-callers selling wine as an investment to take details and pass them on to the police. In addition, if anyone encounters our name in association with such a sales pitch I would be very grateful for any information!

Lionel Nierop

Managing Director
Bid for Wine

www.bidforwine.co.uk
bidforwine.wordpress.com

Tel. +44 (0)207 183 3985
Mob. +44 (0)7762 566894


The Wine Trade Ltd (T/A Bid for Wine) is registered in England & Wales, Company No. 6521437.
Registered Office Address: 2nd Floor, 145-157 St John St, London, EC1V 4PY.
Correspondence Address: P.O. Box 638, Exeter, Devon, EX1 9JY

BBC Inside Out: Olympic Land Scam

Investigation by BBC Inside Out London into a land scam based around the London Olympics in 2012 ruined victims. Illustrates again the dangers of cold calls and the ease by which victims can think they are speaking to someone in the UK when actually they are connected to a boiler room scam in Spain.

Click here.

Nouveau World Wines Ltd and Finbow Wines Ltd: bail extended

Those arrested in connection with these two companies have been bailed until the last full week of March 2011. 

Anyone concerned at the apparently slow progress of this investigation should be aware that investigations into alleged fraud are often lengthy, especially where it is necessary to obtain evidence from abroad. In this case the investigation needs evidence from Australia. I realise that for investors who have lost money the delay is frustrating but I would urge patience.  

 

Fraud trial@St Albans: Paul Craven cross-examined

3rd November 2010

I spent this morning in St Albans Crown Court where Paul Craven, one of the defendants was cross-examined by Mr Davis, barrister for Niklas Cashman another of the defendants.

Mr Davis took Craven through his spending – holidays, cars, diamonds, watches, clothes etc. –  while at a the Bordeaux Wine Trading Company referring him to a number of bank accounts.  

The trial is expected to last at least another two weeks.

Fraud trial@St Albans: Andrew Griffiths

3rd November 2010: 

Please note that Andrew Griffiths has now been severed (official parlance) from this case with a new trial date to be set in due course. In plain language he is now no longer on trial in this case being heard at St Albans Crown Court.

Wine Traders International Limited (in liquidation)

In the High Court of Justice 
Chancery Division

Companies Court

No. 1873 of 2010

Wine Traders International Limited (in liquidation)

Take notice that, following a winding up order made on 5 May 2010, Trevor John Binyon and Stephen John Parker of Sherlock House, 73 Baker Street, London W1U 6RD were appointed Joint Liquidators of the said Company at a meeting of creditors held on 28 July 2010. Creditors of the above-named Company are requested, as soon as possible and preferably within fourteen days, to send in to the Joint Liquidators of the said Company their full names, their addresses and descriptions, the name and address of their Solicitors (if any), and full particulars of their debts or claims, including: purchase invoices, evidence of payment to Wine Traders International Limited (or if paid to another entity, its identity), certificates of allocation or ownership, portfolio evaluations and copies of all correspondence with the Company.

••

Please note that this is a statutory legal advertisement that I have happily agreed to post. I urge all creditors to contact the appointed liquidators.

Tony Hetherington on Fine Wine Vintnors (sic)

Tony Hetherington exposed Fine Wine Vintnors in his column in the Mail on Sunday yesterday. See here.

Tony kindly mentioned investdrinks.org and I have received a number of enquiries from concerned investors. I will reply to all of these queries but it will take a little time. Please be patient.

In the meantime buy only from established companies and certainly never from a company that uses pushy cold calls.