Wine scam (I didn't realise that there was help out there!)

Tarfgi

In September 2013 I was phoned by an employee of Imperial Wines of London asking if would be interested in buying wine as an investment. I said that while I liked drinking wine, I was not, as a pensioner, in a position to invest in fine wines. After a lot of very compelling sales talk, I weakened and the company sent me some glossy literature and I ended up investing £6900 in two cases of Chateau Leoville Las Cases (Vintage 2000) which were deposited in a bonded warehouse - London City Bond/Vinotheque. 

I immediately realised that I had made a mistake and  the next day I asked for my funds to be returned in full during the statutory “cooling off” period. I told them that as I was receiving chemotherapy for cancer at the time, I needed my savings to be easily accessible in a bank, NS&I or similar. I got no answer - they didn’t return my money and I had no idea how I could force them to! Several emails went unanswered. (As I was registered with TPS at the time, I shouldn’t have been receiving phone calls from them anyway.) I had no choice it seemed but to keep the wine.

I had been told that the wine would be ready for drinking in 2019 and as this date approached I began to worry that the wine would soon be past its best and I should sell it. (I realise now that the time isn’t that critical!)

By chance I had a phone call one evening in 2016 from another wine seller representing a firm called “The Connaught Group” who tried to sell me some fine wines. I said definitely not as I already had some wine that I wanted to sell! This broker then offered to sell the wine for me if I would sign it over to him! I refused but he eventually wore me down and I signed the wine over to his company in early 2017. Of course after a few months of optimistic emails about how things were looking good for my wines - Chinese market a possibility etc etc!, this company just disappeared, along with it’s very professional-looking website, email address, phone number etc. The owner of this company was one Ernest Ndoci. 

Unfortunately when I was contacted by the  Official Receiver when Imperial Wines of London went bankrupt, as I no longer owned the wines, I assumed I could not claim on their assets. I presume that is still the case, but nothing ventured….. . I’m having one last try to see if I can salvage something from this disaster which I could ill-afford, like so many older folk who seem to be prime targets for these vile scammers. At least this might act as a warning to others!

The_Unready

"...I was phoned by an employee of...".

Sorry, I can't help with your specific query, but for the benefit of anybody else reading this, please note that any investment 'opportunity' that involves being cold-called by 'an employee' is almost certainly going to end up with you losing money.

masonic

People need to learn not to be polite enough to listen in this situation. Just put the phone down, preferably as soon as you determine that the company isn't one you have any kind of relationship with, and certainly by the point they are offering an investment.

You should note that IMPERIAL WINES OF LONDON LIMITED, which changed its name to IMPERIAL WINE & SPIRITS MERCHANT LIMITED, was dissolved in July 2021 without being taken through an insolvency or liquidation. It is likely the "official receiver" is just a new scammer.

Reaper

Tarfgi said:

I’m having one last try to see if I can salvage something from this disaster which I could ill-afford

Do take note of what Masonic said. It is a classic tactic to contact those who have previously been scammed to say they can get your money back for you... for a fee. Once you pay the fee they will vanish too.

Brie

Just wanted to say to the OP that I'm sorry that you got caught by this.  But pleased to hear that after cancer treatment in 2013 that you're still here to tell the tale 10 years on.

boingy

Brie said:

Just wanted to say to the OP that I'm sorry that you got caught by this.  But pleased to hear that after cancer treatment in 2013 that you're still here to tell the tale 10 years on.

I second that. You're alive, more experienced but a bit poorer. Celebrate the positives. You can even have a glass of wine if you like... 

Chickereeeee

The_Unready said:

"...I was phoned by an employee of...".

Sorry, I can't help with your specific query, but for the benefit of anybody else reading this, please note that any investment 'opportunity' that involves being cold-called by 'an employee' is almost certainly going to end up with you losing money.

I think we can dispense with the 'almost'.

wmb194

I'm surprised that there was even any wine to transfer to the second lot*. I'm guessing the scam there was to massively overcharge for it.

*Probably the same people in a different guise.

Aretnap

Reaper said:

Tarfgi said:

I’m having one last try to see if I can salvage something from this disaster which I could ill-afford

Do take note of what Masonic said. It is a classic tactic to contact those who have previously been scammed to say they can get your money back for you... for a fee. Once you pay the fee they will vanish too.

+1 for this. Be very wary of recovery fraud.

https://www.actionfraud.police.uk/a-z-of-fraud/fraud-recovery-fraud

There is a high chance that anyone who contacts you or if the blue and implies that they can get your money back for you is another scammer (whoever they claim to be). If they ask for an upfront fee (for legal costs, expenses, finders fee in advance etc) you can replace "high chance" with "virtual certainty". If you pay then money the most likely outcome is that you never hear from them again, unless it is to tell you that you need to pay another fee before they can get your money back.

LHW99

Aretnap said:

Reaper said:

Tarfgi said:

I’m having one last try to see if I can salvage something from this disaster which I could ill-afford

Do take note of what Masonic said. It is a classic tactic to contact those who have previously been scammed to say they can get your money back for you... for a fee. Once you pay the fee they will vanish too.

+1 for this. Be very wary of recovery fraud.

https://www.actionfraud.police.uk/a-z-of-fraud/fraud-recovery-fraud

There is a high chance that anyone who contacts you or if the blue and implies that they can get your money back for you is another scammer (whoever they claim to be). If they ask for an upfront fee (for legal costs, expenses, finders fee in advance etc) you can replace "high chance" with "virtual certainty". If you pay then money the most likely outcome is that you never hear from them again, unless it is to tell you that you need to pay another fee before they can get your money back.

Agreed, and details of another of these schemes here

https://www.thisismoney.co.uk/money/experts/article-12155227/TONY-HETHERINGTON-Dont-pay-penny-wine-firm-off.html

Avoid anything of the sort.

Tarfgi

Thanks everyone who answered my post. My biggest regret now is that I didn't have all 24 bottles delivered to my house. At least I could  have drunk and enjoyed them. (Btw the wine did exist as was confirmed by the bonded warehouse. Also the second scammer was not connected with Imperial Wines, as one of their employees rang to buy the wine back (probably at a much reduced price) and he was furious that I'd sold them! I didn't tell him that I'd been scammed for a second time!