With investments in the wine industry at an all-time high from the Far East and 2009’s crop considered the best in a generation, many investors believe now is the perfect time to invest in wines. However, the BBC details a new, but potentially costly, risk of an investment: a group of companies that have defrauded wine investors of nearly 30 million pounds.
In the piece, the BBC speaks with Jim Budd, an investigative journalist who specializes in wine fraud. He claims that there are over 60 companies in the UK that he would never purchase any wine from. One investor said that he lost 50.000 pounds that he couldn’t afford to lose.
Let the buyer beware!