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Director of wine fraud company disqualified for 11 years (7 September 2015)

Date: 07/09/2015
Duncan Lewis, Legal News Solicitors, Director of wine fraud company disqualified for 11 years

The director of a company shut down in 2014 on the directions of the court has been disqualified as a director for 11 years.

The Insolvency Service investigated London-based company Capital Bordeaux Investments Limited and found that it had targeted previous victims of wine investment scams – and had persuaded them that it could help them recoup their financial losses as a result of being scammed.

At least 10 members of the public had paid Capital Bordeaux Investments Limited a total of £59,750 to acquire fine wine as an investment. The company’s trading address was in Lombard Street in the City of London.

The company’s customers had been told that their wine would be held in a government-regulated bonded warehouse.

The Insolvency Service found that company had deposited no wine at all into its investors’ accounts. Bank statements for the company also showed that it never even purchased the wine.

The firm was shut down in the public interest in May 2014.

The company’s sole director, Scott Andrews, has now been disqualified as a director for a period of 11 years for using false and misleading advertising material in order to induce members of the public into paying for wine, which the company then failed to provide.

Official Receiver in the Public Interest Unit, Paul Titherington, said:

“It was Mr Andrews and his salesmen who benefited from this company, rather than its honest investors.

“He misled members of the public and took their money without providing them with the goods they’d been promised.

“Anyone showing such blatant disregard for commercial morality should expect to be banned from running any limited company for a lengthy period time.

“The Official Receiver’s investigation found that the company failed to provide any goods or services for which it was paid.

“The marketing materials for the company stated it had been trading since 1995 – although Andrews was only six years’ old in 1995 and the company was, in fact, not incorporated until April 2012.

“The disqualification regime exists to protect the public. Scott Elliott Andrews’ disqualification from 19 August, 2015 means that he cannot promote, manage, or be a director of a limited company until 19 August, 2026.
“This disqualification follows an investigation by the Official Receiver at Public Interest Unit – a specialist team of the Insolvency Service, whose involvement commenced with the winding up of the company in the public interest following an investigation by Company Investigations into the affairs of the company.”
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