British man extradited to US to face federal charges in alleged $99 million wine scam
New York – A British man was brought to the United States to face accusations in an alleged $ 99 million ponzi fraud involving expensive wines.
James Wellesley, 58, pleaded not guilty when he charged the Federal Court of Brooklyn on Friday following his extradition from the United Kingdom, where he was arrested in 2022.
He was ordered held by a judge while waiting for the thread fraud trial and accusations of money laundering.
A Wellesley lawyer did not immediately respond to an email asking for comments.
His co-owner, Stephen Burton, was extradited from Morocco in 2023 after using a false Zimbabwean passport to enter this country.
Burton, a 60 -year -old British national, was also detained and pleaded not guilty to similar charges in the same court in Brooklyn.
Prosecutors say that the two men run a company called Bordeaux Cellars who negotiated loans between investors and wealthy wine collectors who were obtained by their wine collections.
From 2017 to 2019, they requested $ 99 million in New York residents and other areas, promising their customers that they would benefit from interest in loans.
But the rich wine collectors did not exist, no loan was granted and Bordeaux Cellars did not have custody of the wine guaranteeing the loans, according to the prosecutors.
Instead, Burton and Wellesley used the money of the loans provided by themselves and to make fraudulent payments of interest to other investors, prosecutors said.
If they are found guilty, both are able up to 20 years in prison each.
