Massive investment scheme linked to fine wine

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Two British men have been indicted for a massive investment scheme, federal prosecutors in New York claim.

An indictment was filed Monday in Brooklyn federal court against Stephen Burton, 57, and James Wellesley, 55, for wire fraud and money laundering conspiracy.

Wellesley was arrested on February 4, 2022, in the United Kingdom and Burton remains at large and is considered a fugitive. "Unlike the fine wine they purported to possess, the defendants’ repeated lies to investors did not age well," stated United States Attorney Peace. They allegedly promised that investors would receive regular interest payments from the borrowers and that Bordeaux Cellars would keep custody of the wine while the loans were outstanding.

 

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