Wine Spectator: How Two Men Allegedly Duped Investors With A Tale Of Rare Wines

Last week, Stephen Burton and James Wellesley, CEO and CFO, respectively, of Bordeaux Cellars, were indicted by a grand jury in a Federal District Court in Brooklyn on charges of wire fraud and money laundering. In total, Burton and Wellesley are accused of inducing investors to “invest in excess of approximately $99.4 million in term loans purportedly brokered by Bordeaux Cellars,” states the indictment.

“Unlike the fine wine they purported to possess, the defendants’ repeated lies to investors did not age well,” said Breon Peace, U.S. Attorney for the Eastern District of New York. Wine Spectator has the full story.—Peter Hellman

Tagged : Bordeaux Cellars, Wine Spectator

GET YOUR FIRST LOOK AT 2025 ESTIMATES AND 2030 PROJECTIONS FOR THE WINE AND SPIRITS INDUSTRIES. ORDER YOUR 2025 IMPACT DATABANK REPORTS. CLICK HERE.