US EditionBritish man extradited to US to face federal charges in alleged $99 million wine scam
UNITED KINGDOM, JUL 11 – James Wellesley and Stephen Burton face charges for a $99 million fraud involving fake wine-backed loans that deceived investors, with prosecutors highlighting extensive false collateral claims.
- A man from the United Kingdom, James Wellesley, was arraigned in Brooklyn federal court on $99 million fraud charges related to a fake wine company called Bordeaux Cellars.
- Wellesley and co-defendant Stephen Burton allegedly defrauded investors by pretending to broker loans secured by non-existent high-value wine collections.
- Prosecutors claim the defendants misappropriated funds to pay investors and for personal use, leading to significant financial losses for victims.
- If convicted, both men face up to 20 years in prison for charges including wire fraud and money laundering conspiracy.
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Associated Press News+8 Reposted by 8 other sources
British man extradited to US to face federal charges in alleged $99 million wine scam
A British man has been brought to the U.S. to face charges in connection with an alleged $99 million Ponzi-like fraud involving expensive wines.
·United States
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Colorado Springs GazetteReposted by 
Denver Gazette
Denver GazetteUK man pleads not guilty in New York to $99 million wine fraud
By Jonathan Stempel
·Colorado Springs, United States
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Leaning Left4Leaning Right4Center7Last UpdatedBias Distribution47% Center
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