Home japan financial crisis Jailed loan broker downplays role in wine fraud

Jailed loan broker downplays role in wine fraud

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By Christopher Crosby (Jun 17, 2020, 5:16 p.m. BST) – A jailed wine broker has denied scamming more than 100 investors with a fraudulent scheme that promised high returns on loans, telling a judge he was only following instructions from its business partner.

Stephen Burton claimed in a defense filed in the High Court on June 12 that he was a “figurehead” of Bordeaux Cellars London Ltd. who knew the wines. But he leaned on his former partner to get loans for the business, he said.

Investors accused Burton and the company of fooling them into injecting some $ 6.7 million into a loan program on the promise of …

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