Wine fraud lawsuit is a test of bottle for billionaire Bill Koch
Wine fraud lawsuit is a test of bottle for billionaire Bill Koch
Mar 24, 2013 6(Guardian) - Court case due to begin in New York brings to light claims of widespread counterfeiting in the world of fine and rare wines. It has aged for six years, but the uncorking of a wine-fraud lawsuit in a Manhattan court on Monday looks set to leave a rather nasty – and potentially costly – aftertaste.
Brought by one of America's richest men, Bill Koch, against Eric Greenberg, a businessman who himself was once reportedly worth $1bn, the case will also put a spotlight on what some experts have claimed has been a scourge of the wine market for years: counterfeits. At the heart of the matter are a couple of dozen bottles that were purchased for up to $30,000 each, but may have turned out to be less than vintage. In the process of testimony that could last up to four weeks, the court is expected to hear of alleged underhand tactics used by some retailers and auction houses to offload suspect plonk.
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