charles banks
Charles Banks has invested strongly in wine.
(Image credit: Credit Unknown)

The US department of justice has indicted Charles Banks on wire fraud charges and the former Screaming Eagle co-owner is also being pursued by the US Securities & Exchange Commission. He has denied wrongdoing.

Charles Banks has been indicted on two counts of wire fraud relating to allegations made by retired NBA basketball player Tim Duncan.

Banks strongly denied wrongdoing, in a statement given by his lawyers to journalists outside the court. He was released on bail.

Banks rose to prominence in the wine world when he bought Screaming Eagle together with real estate developer Stan Kroenke in 2006. There is no suggestion of Kroenke’s involvement in the present investigations.

Banks founded Terroir Capital after leaving Screaming Eagle in 2009.

He and fellow Terroir investors have pursued several acquisitions. In wine, these include Mayacamas in Napa Valley and Qupé in Santa Barbara.

Banks also acted as Tim Duncan’s financial advisor.

The ex-San Antonio Spurs star has claimed that Banks persuaded him to invest in a company named Gameday, but that the promised returns have not materialised.

Separate to Banks’ indictment, the US Securities and Exchange Commission (SEC) has filed a lawsuit against Banks in relation to fraud claims.

The separate SEC filing does not name Duncan, but the details of the case are almost identical.

The SEC has requested a jury trial in Georgia, where it filed its lawsuit against Banks on 9 September.

Charles Augustus Banks IV left out ‘material facts’ to persuade an investor to put $7.5 million into Gameday Entertainment, the SEC said. Banks has denied mis-leading Duncan.

Evening Land Vineyards

Evening Land Vineyards
(Image credit: Credit Unknown)

California wine trio partner with Evening Land Vineyards in Oregon

The trio behind California's Sandhi winery, former Screaming Eagle co-owner Charles Banks, winemaker Sashi Moorman and sommelier Rajat Parr, are

Trinity Gimblett Gravels

Trinity Gimblett Gravels
(Image credit: Credit Unknown)

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

Qupe

Qupe
(Image credit: Credit Unknown)

Ex-Screaming Eagle co-owner acquires California Syrah specialist

The former owner of Screaming Eagle, Charles Banks, has continued on the acquisitions trail in 2013 by agreeing to take

Charles Banks

Charles Banks
(Image credit: Credit Unknown)

Former Screaming Eagle owner buys Mayacamas

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

Charles Banks

Charles Banks
(Image credit: Credit Unknown)

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.

Chris Mercer
Chris Mercer

Chris Mercer is a Bristol-based freelance editor and journalist who spent nearly four years as digital editor of Decanter.com, having previously been Decanter’s news editor across online and print.

He has written about, and reported on, the wine and food sectors for more than 10 years for both consumer and trade media.

Chris first became interested in the wine world while living in Languedoc-Roussillon after completing a journalism Masters in the UK. These days, his love of wine commonly tests his budgeting skills.

Beyond wine, Chris also has an MSc in food policy and has a particular interest in sustainability issues. He has also been a food judge at the UK’s Great Taste Awards.