Dodgy wine investment???

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  • C_Mababejive
    C_Mababejive Posts: 11,654 Forumite
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    The company officials are probably reading this thread. Perhaps they'd like to join in..
    Feudal Britain needs land reform. 70% of the land is "owned" by 1 % of the population and at least 50% is unregistered (inherited by landed gentry). Thats why your slave box costs so much..
  • mgnchungles
    mgnchungles Posts: 1 Newbie
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    I made a deposit of £200 towards a case of some wine worth £2700 last year, but never paid the remainder of the investment.
    I had not received calls from the company Dow and Jones or DJ Vinters until recently.
    They asked if I wanted to invest or reinvest !
    I said no.
    They are now saying that I need to pay £1700 more to enable them to release the case of wine so I can get my deposit back as well as my £300+ profit.
    I have no available funds, nor do I intend to pay any more money to this firm. He quoted that I have reneged on my consumer law and that he would chase for the money as they could not release the case for reselling.
    Having done my own research, the director wa charged a few years ago with conspiracy to defraud the NHS and got suspended sentence. Plus the newer director has only been in place a while,
    They were quite threatening towards me , very persuasive and also suggested I could get out of the contract ( even though I verbally spoke to a William last year to state I wasn’t going any further with the purchase) if I sign a form to release the case ! Is this true! Am I being stupid? He said I shouldn’t bother with taking legal action, as it would takes ages and cost a lot.
    Any ideas or suggestions? He kept repeating consumer law act ....
  • Reaper
    Reaper Posts: 7,283 Forumite
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    edited 5 September 2018 at 8:41PM
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    mgnchungles wrote: »
    They are now saying that I need to pay £1700 more to enable them to release the case of wine so I can get my deposit back as well as my £300+ profit.
    I have no available funds, nor do I intend to pay any more money to this firm. He quoted that I have reneged on my consumer law and that he would chase for the money as they could not release the case for reselling.
    They were quite threatening towards me , very persuasive and also suggested I could get out of the contract ( even though I verbally spoke to a William last year to state I wasn’t going any further with the purchase) if I sign a form to release the case ! Is this true! Am I being stupid? He said I shouldn’t bother with taking legal action, as it would takes ages and cost a lot.
    Any ideas or suggestions? He kept repeating consumer law act ....
    Sounds like rubbish to me. Standard practice for the dodgy end of the market is to threaten investors with legal action if they don't hand over money for some poorly defined supposed contract. Somehow I think you will find the last thing they want to do is get the law involved. It sounds like you have already found this link
    http://www.thisismoney.co.uk/money/beatthescammers/article-4414386/Have-overcharged-wine-Dow-Jones-Ltd.html

    By the way there is a useful wine blog at investdrinks which gives advice to wine investors and warns about scams.
    It has them on the list of companies they would not buy from
    http://investdrinks-blog.blogspot.com/p/i-wouldnt-buy-wine-from-these-companies.html

    PS there is no such thing as the "Consumer Law Act"
  • Reed_Richards
    Reed_Richards Posts: 4,169 Forumite
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    mgnchungles wrote: »
    I had not received calls from the company Dow and Jones or DJ Vinters until recently.
    "Dow and Jones"!!! They can't be serious, can they?
    Reed
  • Malthusian
    Malthusian Posts: 10,944 Forumite
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    mgnchungles wrote: »
    Any ideas or suggestions?

    Block their number. Write off the £200. There is no £300 profit, the money is gone.

    You have given them £200 and received nothing in return, yet they are claiming that you are the one who owes them money. Is there really any need to waste your time and energy by listening to anything else they say?
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    mgnchungles wrote: »
    I made a deposit of £200 towards a case of some wine worth £2700 last year, but never paid the remainder of the investment.
    I had not received calls from the company Dow and Jones or DJ Vinters until recently.
    They asked if I wanted to invest or reinvest !
    I said no.
    They are now saying that I need to pay £1700 more to enable them to release the case of wine so I can get my deposit back as well as my £300+ profit.
    I have no available funds, nor do I intend to pay any more money to this firm. He quoted that I have reneged on my consumer law and that he would chase for the money as they could not release the case for reselling.
    Having done my own research, the director wa charged a few years ago with conspiracy to defraud the NHS and got suspended sentence. Plus the newer director has only been in place a while,
    They were quite threatening towards me , very persuasive and also suggested I could get out of the contract ( even though I verbally spoke to a William last year to state I wasn’t going any further with the purchase) if I sign a form to release the case ! Is this true! Am I being stupid? He said I shouldn’t bother with taking legal action, as it would takes ages and cost a lot.
    Any ideas or suggestions? He kept repeating consumer law act ....


    Next time, research before you give someone money for a scheme that involves wine, vines, student pods, timeshare, Christmas trees, camper vans, bitcoin ICO's, etc.

    Then, whatever your research concludes, dont give them your money. Even if it concludes "this" one isn't a scam..

    I was going to write "dont invest" but you arent investing, you are just giving someone money. There is a difference.


    And finally, realise you are now on a suckers list and your details have been sold to other scammers including those who will promise to recover your money for a small fee (or possibly, a large fee)


    So dont get involved in discussions with anyone that calls you, unless its your mum.Just hang up. Or better, say "hang on a minute theres someone at the door" put the phone down and leave it. That will waste a minute of their time during which they wont be scamming someone else. If you have the energy you can even pick it up once in a while, say "hang on a sec nearly done" then put it down again.
  • cbain1512
    cbain1512 Posts: 3 Newbie
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    Hi, sorry this is the first time being on the forum so not really sure of all the do's and don'ts yet. I have had a very similar time with my father and he, unfortunately gave his life savings of over £103,000 to Dow and Jones for a "wine investment" so he could give his children and grandchildren some money when he passed away!! The Police Fraud Squad were contacted once I knew what was happening (dad has sadly been diagnosed with Dementia and Alzheimer's). They spent over 1 year on the case and then said they were too busy. I also contacted Trading Standards who sent out someone to interview my father and myself. We responded with all the requested information and they have not even had the decency to come back to us. I have his so called "wine" in storage and they want me to jump through all sorts of hoops and pay lots of money to get it transferred and the tax to be paid etc etc etc. Anthony Collins did eventually contact me and I had some bull that he was not in the office and would contact me again....never happened, and now they are saying they have been subjected to scammers and are closing down the company or something along those lines. I am trying to see how I can sell my dads wine so he gets some money back before he forgets completely as this has made him very ill. It is all very well everyone telling you not to invest or to investigate properly but these animals have scammed my vulnerable father out of everything and now have made him very ill. He doesn't go on computers and he wouldn't even buy a cup of coffee in a cafe because it was too expensive so these people from Dow and Jones were really very clever and scammed dad - impressive but down right sad and it makes me so angry. I hope one day there will be a way for Anthony Collins and his despicable team of scammers getting their just deserves and I just hope my dad is still around to hear about it.:mad:
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    I very much doubt there is any wine.
  • Pension_Geek
    Pension_Geek Posts: 205 Forumite
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    mgnchungles wrote: »
    I made a deposit of £200 towards a case of some wine worth £2700 last year, but never paid the remainder of the investment.
    I had not received calls from the company Dow and Jones or DJ Vinters until recently.
    They asked if I wanted to invest or reinvest !
    I said no.
    They are now saying that I need to pay £1700 more to enable them to release the case of wine so I can get my deposit back as well as my £300+ profit.
    I have no available funds, nor do I intend to pay any more money to this firm. He quoted that I have reneged on my consumer law and that he would chase for the money as they could not release the case for reselling.
    Having done my own research, the director wa charged a few years ago with conspiracy to defraud the NHS and got suspended sentence. Plus the newer director has only been in place a while,
    They were quite threatening towards me , very persuasive and also suggested I could get out of the contract ( even though I verbally spoke to a William last year to state I wasn’t going any further with the purchase) if I sign a form to release the case ! Is this true! Am I being stupid? He said I shouldn’t bother with taking legal action, as it would takes ages and cost a lot.
    Any ideas or suggestions? He kept repeating consumer law act ....

    Thank your lucky stars its only £200 you have lost.
    Not an expert, but like pensions, tax questions and giving guidance. There is no substitute for tailored financial advice.
  • Robert_McGeddon
    Robert_McGeddon Posts: 268 Forumite
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    Interesting comments on Dow and Jones (and others) here
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