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Wine News

Ex-Director found guilty of wine fraud

Banned company director Spyros Constantinos was found guilty at the Old Bailey this week of defrauding investors who he persuaded to invest in wine. He was convicted of 10 counts and stole £1m from investors, instead spending the money on holidays and other luxuries. Michael Phelps, managing director of EHD bond warehouse, where Constantinos stored what wine he did buy, told the court that he had never seen documents supposedly from EHD sent to investors. Meanwhile that other great wine fraudster Rudy Kurniawan has appealed against his conviction for making and selling millions of dollars worth of fake fine wines. In his appeal his argument is that the FBI search on his home in 2012 was illegal because officers hadn't secured the appropriate warrant. Now - he's all about the genuine article!!