Wine investment scam alert
Wine investment scam alert
Nov 18, 2010 6
Concerns are mounting over the level of fraudulent activity in the fine wine investment markets. This week saw evidence that fraudsters are assuming the name of reputable firms to persuade would-be investors to part with their cash.Lionel Nierop, managing director of online wine auction firm Bid For Wine, said: "I’d like to draw attention to what appears to be a new scam in the already murky world of wine investment – namely hijacking the name of an established business.
"The fraudsters then use the name to sell wines for investment, presumably with the intention of pocketing investors' funds and leaving the legitimate business taking the heat.
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