Scott Andrews, director of Capital Bordeaux Investments Limited, has been banned from acting as a UK director for 11 years after running a wine investment scam.
25 year-old Andrews was the sole director of Capital Bordeaux Investments Limited that took at least £60,000 from investors but bought no wine. Andrews failed to keep proper records so more money may have been stolen from investors.
Clients were told that their wines were stored at London City Bond’s warehouse in Tilbury, but Capital Bordeaux Investments had no account with LCB. Furthermore, fine wine is stored at LCB’s Vinothèque warehouse in Burton-on-Trent.
Clients were also told that Capital Bordeaux Investments Limited could sell wine bought from other wine investment companies but were persuaded to buy wine to start an account.
‘I purchased a case of wine from Capital Bordeaux Investments Ltd, on 18th June 2012 just to start an account with them, as I was informed they could sell my wine, which I hold with World Wide Wine Investments Ltd, ’ said one investor.
Although the company was founded in April 2012, it falsely claimed to have been producing successful results for its clients since 1995. Capital Bordeaux Investments Ltd was wound up in the public interest in May 2014.
Capital Bordeaux Investments Ltd ‘traded’ from 68 Lombard Street, London, EC3V 9LJ – a serviced office address.
Following the disappearance of Capital Bordeaux Investments Limited, investors also report receiving numerous calls from similar alternative investment companies offering to sell them wine, gold and other luxury items.
Andrews signed disqualification undertakings and his 11-year ban runs from 19th August 2015. Signing such undertakings avoids a court appearance.