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Saturday 9 February 2013

Vintage Wine Investors: scam highlighted by Tony Hetherington

Vintage Wine Investors, based in Delaware, USA, continue run their scam offering rapid profits on wine investments – here 40% 'in just five months'. This weekend Tony Hetherington highlights this scam in his This is Money column in the Mail on Sunday

Best to stay well clear of this scam – yes it sounds too good to be true and it surely is


  1. what is going on with Vin Borderlaise

  2. So the Wine Investment Association have published their code of practice and, surprise surprise, cold calling is allowed. Which just shows what a nonsense this so-called self regulating organisation is, as cold calling is the main problem.

  3. Anon. I agree any wine investment organisation that permits cold calling, by its very nature an aggressive sales tactic, does not deserve the public's confidence or support. They also appear to have rewritten the Distance Selling Regulations as the cooling off period – certainly for bottled wine – is seven working days from the day after delivery whether to the customer or t third party eg a bonded warehouse.

  4. So they're breaking the law then - what a joke this bunch are

  5. here Jim read this

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  8. Do you have anything to say about the Wine Investment Association now that they have published their code, Jim?

  9. I will be publishing a post but am busy getting various pieces of work done.

    However, I am very disappointed that they have decided to permit cold calling despite the view of the FSA. Equally I'm astonished that a police organisation is prepared to offer support to an organisation that allows cold calling.

    It is interesting to compare the FSA's definition of acceptable cold calling with that adopted by the WIA:


    'FSA: One-minute guide - Cold calling

    Cold calling can expose consumers to high-pressure sales tactics which mean they can end up with an inappropriate or over-expensive product or service.
    Our investment and mortgage financial promotion rules therefore ban cold calling (which is called unsolicited real-time promotions in our Handbook and legislation) unless certain conditions are met.

    How do we define cold calling?
    Cold calling is where a financial promotion is made during any dealings with a customer, which the customer did not begin.'

    WIA definition of cold calling:

    'The Association defines a cold-contact as a telephone call (or other communication) made to
    a private individual where there has been no previous communication with that individual,
    and where the individual has not provided his telephone number and/or given prior
    permission for the telephone call.'

    Although I welcomed the initiative in principle, I will not support an association that purports to protect the public yet allows its members to cold call. Until the WIA comes into line with the FSA on cold calling I cannot support this initiative.