Two British men are accused of duping wine collectors in £76m ‘Ponzi scheme’ by offering returns backed by vintage plonk ‘that didn’t exist’
- Andrew Fuller, 55, and Stephen Burton, 57, allegedly defrauded wine collectors
- The British duo are said to have offered investors huge returns backed by cellars
- They allegedly used aliases to con investors out of more than $99million (£76m)
Two British men have been charged in the US after they allegedly defrauded wine collectors in a £76million ‘Ponzi scheme’.
Andrew Fuller, 55, and his business partner Stephen Burton, 57, are said to have offered investors huge returns backed by cellars that included the costly Californian wine Screaming Eagle.
But many of the expensive wines did not actually exist, according to court papers filed in New York.
Their company, Bordeaux Cellars, allegedly held thousands fewer wines than loan documents had purported, including wine from Domaine de la Romanee-Conti in Burgundy and Chateau Lafleur in Bordeaux.
Stephen Burton, 57, (pictured) has been charged in the US after he allegedly defrauded wine collectors in a £76million ‘Ponzi scheme’ along with Andrew Fuller, 55
Both men used multiple aliases to con investors out of more than…
