Australian wine fraud: further arrests made
- Friday 9 April 2010
A 40-year-old woman and a 53-year-old man were arrested, as part of 'Operation Iceman', on suspicion of money laundering and have been bailed until October.
This follows the previous six arrests made on 4th March in connection into Nouveau World Wines Ltd, an alleged £3 million fraud involving Australian wine sold as an investment.
Although the wines existed, it is alleged that Nouveau World Wines Ltd did not purchase any.
It is understood that Operation Iceman has been extended to include Finbow Fine Wines Ltd.
Finbow offered investors deals on cheap Italian wine that it claimed could be sold at a substantial profit in China and other Asian markets.
decanter.com understands that the police are investigating as many as 20 drinks investment companies.
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