Fraudster Spyros Constantinos guilty!

Excellent breaking news!

43-year-old Spyros Constantinos was found guilty this afternoon at London's Old Bailey of defrauding investors for around £1 million. The jury found him guilty on all ten counts – six relating to fraudulent trading including running a fraudulent business and intent to defraud and four offences of acting as a director whilst disqualified.

Sentencing will be in around 28 days time – hopefully Spyros Constantinos will receive a substantial prison sentence.

More to follow shortly.  

Spyros Constantinos, 44, at the Old Bailey (London)

 Report from the MailOnLine 

'Banned company director 'swindled investors out of £1million in wine scam and spent it on fancy chocolates, shopping sprees at Harrods and Selfridges, holidays to Disneyland'

• Spyros Constantinos, 44, was banned from running a company in 2008
• But he 'squirmed' around restriction to continue wine business, it is said
• He convinced customers to invest life savings in luxury wine portfolios
• And used the money to pay for flights and shopping sprees, it is claimed   

By Stephanie Linning for MailOnline

Published: 16:38 GMT, 2 June 2015 | Updated: 18:07 GMT, 2 June 2015

Read more: http://www.dailymail.co.uk/news/article-3107687/Banned-company-director-swindled-investors-1million-wine-scam-spent-fancy-chocolates-shopping-sprees-Harrods-Selfridges-holidays-Disneyland.html#ixzz3cSeN9uwX
 

Also Drinks Business here.

 

Spyros Constantinos is banned from being a UK director from 21st July 2007 to 20th August 2017. His address on Companies House list of disqualified directors is: 

Apartment A1-2-6 Urbanization Andalucia, Calle Las Vedras, Marbella, Malaga
Spain

The UK company ban is in connection with his first wine investment company Bordeaux Wine Consultancy Ltd.

Fraudster Daniel Snelling ordered to pay £714,588.28

Daniel Snelling

Many thanks to Mr Gilchrist for bringing this to my attention. Daniel Snelling convicted in July 2013 for fraud and money laundering for running the Nouveau World Wines and Finbow wine investment scams. 

'Last week (15th May 2015) Daniel Snelling was treated to an excursion from his prison cell. He was brought back to Southwark Crown Court to appear in front of the judge, who sentenced him to jail in 2013. The judge's message to Snelling was clear - "Cough up the rest of the loot or get banged up for longer!"'

Court News UK (15th May 2015):
“ SNELLING: FINE WINES CONMAN ORDERED TO PAY BACK £700K 

A crooked businessman who persuaded hundreds of elderly investors to hand over their life savings in a £4.5million fine wine scam has been ordered to repay £714,000.

Daniel Snelling, 40, seduced investors into ploughing thousands of pounds into Australian plonk billed as 'the best money could buy' from Nouveau World Wines. 

Working with his sister Dina Snelling, 37, and their cousin Rebecca McDonald, 44, he promised to sell the wine at huge profits after three years in 'premium' storage.

Daniel Snelling used his ill-gotten gains to enjoy an 'extravagant' lifestyle including renting flash cars and luxury homes and enjoying numerous holidays to Australia.

Dina indulged in cosmetic surgery and received 'travel expenses' for trips to Oz.

Daniel Snelling, jailed for seven and a half years in September 2013, returned to Southwark Crown Court for a confiscation hearing.

Judge Michael Grieve QC said: 'I make a finding by agreement that Mr Snelling's overall benefit arising out of these proceedings under the confiscation order, proceedings following his conviction, is £1,814,248.

'The realisable amount is £714,588.28, of which £100,000 constitutes hidden assets.' Judge Grieve ordered the confiscation amount of £714,588.28 should be paid in compensation to the victims of the fraud.

Snelling must now cough up the cash within six months or face a further three and a half years in jail.....”

The full script of the court report can be found on this link:

http://courtnewsuk.co.uk/newsgallery/?page=5&news_id=40869