Wine company, under investigation, changes name
- Friday 27 June 2008
BWTC is being investigated by the Economic Crime Unit of Hertfordshire police.
It is understood that the company has not fulfilled orders totaling £362,312
placed with BWTC by 13 customers.
One client was sold a case of 2005 Pétrus for £19,000 – some £5000 below cost. The client was told another customer ‘needed cash quickly due to an expensive divorce’.
Now BWTC has reappeared in north London using a new company name: First Growth Investments (FGI).
decanter.com understands FGI is selling Bordeaux 2007 en primeur, such as 20 cases of Château Margaux at £2645 – the going rate – including five years storage and insurance. It is not known whether any orders have been placed.
First Growth Investments was registered as a new company name on 23 April 2008. It is not a newly-registered company.
William Boyd, 25, is its sole director but decanter.com understands that Paul Craven, a former director of BWTC, was involved in negotiating the office lease.
The FGI phone is often answered in the name of the Bordeaux Wine Trading Company.