Trader denies £350,000 wine fraud

A wine trader has appeared in court to deny conning investors out of £350,000 for expensive bottles of Bordeaux and Champagne that never existed.

Wilson appeared at the Old Bailey in London (Photo: Wiki)

Michael Wilson is alleged to have been the chief executive of Global Wine Investments, which prosecutors say tricked several investors into parting with £348,338 for wine that was never purchased.

Wilson, who is being charged with fraud and possession of criminal property, allegedly ran the scam for 18 months between April 2011 and September 2012 from plush central London offices.

In a preliminary hearing, Judge Mark Lucraft QC released Wilson on bail until his trial, which is set to begin on April 4 next year, according to the Daily Mail. 

Global Wine Investments shut down its website and closed its phone lines in around August 2012, shortly after negative reports criticising the firm began to appear.

An archive of its website shows that the company claimed Wilson worked as a City lawyer for over four years, “where he developed a personal passion for fine wine”.

The company said it had over 30 years experience in the wine market, and that it specialises in “advising on all aspects of fine wine investment, from acquisition, portfolio development and management.”

Wilson has been freed on bail until April next year. Under his bail conditions, he must live at a fixed address, he must not contact employees of the wine firm, and he has to tell the authorities of any travel plans.