A well-known wine dealer was sentenced Thursday to 10 years in prison after he was convicted of defrauding wealthy clients out of millions of dollars by selling them bottles of purportedly rare and sought-after wines that were actually old bottles of wine mixed together, complete with fake labels.
The dealer, Rudy Kurniawan, had become a renowned figure on the rare wine scene, spending and making millions of dollars on wine sales every year. In 2006, he sold $35 million worth of wine.
SEATTLE — Detectives have recovered more than 2,500 bottles of fancy wine stolen from a Seattle shop, police said Wednesday, and they’re examining whether the Thanksgiving heist might be related to a similar break-in at a San Francisco wine seller earlier this year.
Talk about liquid assets.
Goldman Sachs Group Inc. accepted almost 15,000 bottles of fine wine as loan collateral from a former high-ranking executive, according to a regulatory filing last month. Andrew Cader, a former senior director at Goldman Sachs’s specialist-trading unit, pledged a secured interest in the wines, which are primarily from the Burgundy and Bordeaux regions of France, the filing showed.
Hong Kong (AFP) - An auction in Hong Kong Saturday broke the world record for the most expensive lot of wine ever sold, with 114 bottles of Burgundy going for HK$12,556,250 ($1.6 million), Sotheby's said.
The government is selling off its vintage French wine collection for £5,000 a bottle in a bid to offset the costs of its expensive wine cellar. The government wine cellar, located in the basement of Lancaster House near Buckingham Palace, is used to provide wine for visiting dignitaries at 200 or more events a year.