Luxury wine scamsters will face jail after conspiracy by fake collectors of $ 100 million

KANIKA SINGH RATHORE,

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A British person in New York has confessed to being involved in a fraud of about $ 100 million DangerWhere the victims invested in loans given for fake rich people Liquor Collectors whose Liquor Also did not exist.

59 -year -old James Valeslli accepted his defect in the wiring case on Tuesday Danger Conspiracy in front of US District Judge Pamela Chen BrooklynAccording to court records.

Walesly, also known as Andrew Fuller, requested not to be guilty in three allegations including a conspiracy in July.

Following the unsuccessful battle of extradition from the United Kingdom, he is jailed at the Metropolitan Detention Center in Brooklyn.

A lawyer from Wellesley did not immediately respond to the remarks request.

According to his petition agreement, Valesly may face 10 to 12 and a half years of jail under the recommended federal guidelines.

Brooklyn's Metropolitan Detention Center, where defendants are being kept

Brooklyn’s Metropolitan Detention Center, where defendants are being kept ,AFP through Getty Images,

He has also agreed to seize more than $ 1 million in more than two dozen bank accounts.

Co-operative Stephen Burton, 61, who is also the British, convicted fraud conspiracy and money laundering conspiracy in July, and accepted the order of $ 26 million. He is also lodged in Brooklyn’s jail.

The prosecutors said that Velsle and Burton introduced themselves as officers in London and Hong Kong-regulated Bordeaux Sellers.

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He raised $ 99.4 million by promising loan investors that he would receive regular interest payments from wine collectors with “high net worth”.

The defendants reportedly claimed that the loans were supported by a list of over 25,000 liquor bottles, including Domin de La Romani-cotton in Bargandi and Cheto Laughleur at Bordeaux.

Prosecutors stated that Bordeaux selers controlled very few bottles, and only 217, while the defendants used loan income to pay individual expenses and interest to some investors.

The prosecutors said that the scheme lasted from June 2017 to February 2019 and when the interest payment stopped, it collapsed.

The court records suggest that Burton’s sentence is scheduled on 6 January 2026 and the sentence of Valesla on 3 February.

Uk