UK companies closed for ‘ripping off’ wine fraud victims

news  %tages UK companies closed for ripping off wine fraud victims
A pair of companies accused of combining to prey on defrauded wine investors and cheat them out of more money have been closed in the public interest by the UK's High Court.

Its ruling follows an investigation by the Insolvency Benefit that found the companies, Capital Bordeaux Investments Ltd and Capital Bordeaux Investment Corporate Ltd, 'ripped off' investors earlier scammed by disastrous wine investment firms by saying it could help them recoup losses - if they bought more wine.The two companies were founded in April and October 2012 correspondingly, and the latter of the two is believed to have acted as a depository for wine investors’ funds. ‘Its bank account shows receipts of £243,980,’ the Insolvency Benefit said, accusing the firms of 'ripping off' those already defrauded.Former clients of Worldwide Wine Investments and Bordeaux UK Ltd were amongst those targeted.‘These companies cynically targeted people who had already lost money in additional wine investment scams and exploited http://1000-facts-about-wine.com their desire to try and recover some of their original investment,’ said Colin Cronin, an investigation supervisor with the Insolvency Benefit. ‘The companies were incapable of recovering such losses. Much, none of the funds received from investors were used to buy wine and were instead used for the subsidy of those in hegemony of the companies.’

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