Charles Banks sentenced to four years for fraud

Ex-Screaming Eagle owner and winery investor Charles Banks has been sentenced to four years in federal prison for wire fraud.

Charles Banks sentenced to four years

Duncan received no return on his investment.

He pleaded guilty to one count of fraud in April 2017, after initially denying any wrongdoing.

Banks must also pay $7.5 million in restitution to Duncan.

The scam was discovered when going through finances for Duncan’s, an ex-San Antonio Spurs player, divorce settlement.

‘He earned my trust as my financial adviser and friend, so I felt comfortable moving forward without replacing the checks and balances as he moved on to running his own thing,’ Duncan said in a statement, reported San-Antonio Express News.

‘Unfortunately, I was wrong about that decision.’

In his own statement, Banks said to Duncan ‘Tim, I’m sorry.’

Banks bought Screaming Eagle winery in Napa in 2006, then left in 2009 and set up Terroir Capital, which owns wineries included Qupé in Santa Maria in California, Trinity Hill in New Zealand and Fable Mountain Vineyards in South Africa.

Terroir Capital are not involved with the case with Duncan.

Banks ‘stepped back’ as CEO of Terroir Captial after entering his plea, and chief operating officer Kevin McGee took over.

Winery investor Charles Banks faces fraud fallout

Expected guilty plea may have repercussions for wine role...

Ex-Screaming Eagle owner Charles Banks faces fraud charges

He denies wrongdoing but SEC files lawsuit over claims...

Former Screaming Eagle co-owner buys Sonoma’s Wind Gap

The former co-owner of Screaming Eagle – Charles Banks – has purchased a controlling share in Wind Gap winery, Sonoma.

Former Screaming Eagle owner buys Mayacamas

Mayacamas, the historic Napa vineyard and winery, has been purchased by former Screaming Eagle owner Charles Banks.

Former Screaming Eagle co-owner to take control of New Zealand’s Trinity Hill

Charles Banks has expanded his post-Screaming Eagle wine empire by signing a deal to take control of New Zealand’s Trinity

Ellie Douglas is digital editor at Decanter.

She has worked at Decanter since 2013, when she joined as editorial assistant, then moving to the web team as assistant web editor in 2015.

Over her years at Decanter, Ellie has helped to significantly grow Decanter’s social media presence and with the launch of Decanter Premium in 2017.

She holds her WSET Level three in Wine, and in 2018 was shortlisted for PPA Digital Content Champion of the Year.