The director of collapsed Bordeaux Fine Wines Ltd in the UK has been banned from companionship boardrooms until 2030, after squandering millions of pounds of buyers' money on quick cars, race horses and private jets.
The UK Insolvency Benefit said that its ban on Kenneth Jean Pierre Gundlach was for the maximum time possible and encompassed managing, directing or promoting any limited companionship. It said its wits was that Gundlach disastrous to buy at least £9.3m of fine wine that was sold to consumers. At least 1,750 suitcases of wine were never delivered to buyers. Instead, Gundlach used their money to fund a lavish lifestyle, buying ‘performance cars’, race horses, jewellery and designer clothing, the Insolvency Benefit said. He also spent £141,000 on hiring private jets, it added.Bordeaux Fine Wines Ltd was shut down by the High Court in London a year ago. At the time, the court head that http://1000-facts-about-wine.com Gundlach admitted in a written statement that he disastrous to buy sufficient wine and that he got his team of cold-callers to inflate wine prices when on the phone to potential buyers. ‘Anyone showing such blatant disregard for commercial morality should expect to be banned from running any limited companionship for a lengthy period of time,’ said Paul Titherington, of the Insolvency Benefit’s public interest unit.Bordeaux Fine Wines Ltd was incorporated in 2008 in Croydon, south of London.What did Gundlach spend the money on?Here is a selection of transactions from the companionship's bank account, published by the Insolvency Benefit:£626,148 to bloodstock companies probably for the buy of race horses£553,803 for the buy and running of motor vehicles£170,000 to a well known bespoke jeweller£141,589 for private jet hire and associated costs£38,500 for an office Christmas partySee also:UK court closes wine investment firm with millions owed