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A 66 year old man had been imprisoned for 10 years for running a ponzi (or 'get rich quick' investment scam) called Premier Cru. This was founded in California and made its name selling fine Bordeaux promising delivery within 6 months. The wines were in many cases never bought and he used the money to fund an extravagant lifestyle before the law finally caught up with him. This is such a common theme. Slick salesman use heavily scripted jargon to persuade you to buy a 'guaranteed' investment. Someone even targeted me recently and it was fascinating how quickly he put the phone down when I asked him for more detail about the oak ageing and grape blend. But not until I had allowed him to tell me all about the current market and the rich growth potential. I have fallen victim to a share scam before so am especially wary these days but it is so easy to get caught up in a little fun investment if you have some spare cash. Wine investment sounds rather glamorous and you can always drink it if all else fails - if it ever arrives!! Not for the first time do I warn you all to only buy through the likes of major wine merchants like Berry Brothers or The Wine Society.

Date: 01/02/2017 | Author: Ted Sandbach