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14 July 2025
Stephen Burton, founder of Bordeaux Cellars, pleaded guilty in a federal court in New York to conspiracy to commit fraud and money laundering.
Together with his partner James Wellesley, the two men raised $99.4 million from more than 140 investors worldwide, promising returns based on loans secured by fine collectible wines.
The reality: most of the wines supposedly serving as collateral never existed.
The victims, located in the United States, the United Kingdom, and Hong Kong, collectively lost $25 million.
Stephen Burton faces up to 20 years in prison.
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