Wine Traders International Ltd shut down

Wine investment company Wine Traders International Ltd has been ordered to close in the public interest.

The High Court ruling in London followed an investigation by the Companies Investigation Branch who petitioned for closure on 4th March.

It is unclear whether the company bought all the wine it sold.

decanter.com understands that some investors received ownership certificates with rotational numbers to identify their wine, while others received certificates that provided no identification.

The police are investigating Wine Traders International along with its associated companies Assets Vin Rouge Ltd and Bradshaw & Karr.

This is the second wine investment company to be closed in the public interest this year – Elite Wine Portfolios was closed in late January.

Also the Metropolitan police have made arrests in connection with Nouveau World Wines Ltd and Finbow Wines Ltd.

The trial of four directors involved in running Bordeaux Wine Traders Ltd and International Wine Commodities is due to start new week at St Albans Crown Court.

They are charged with conspiracy to defraud and money laundering.

Written by Jim Budd

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Jim Budd moved from education to wine in 1988 and has written for Decanter since 1989. He is the former editor (1991-2015) of Circle Update, the newsletter of the Circle of Wine Writers. He writes the award-winning www.jimsloire.blogspot.com and is one of the five members of the Les 5 du Vin blog. Budd exposes the dangers of drinks investment on his award-winning www.investdrinks.org website, and complementary www.investdrinks-blog.blogspot.com blog. He also contributes to Hugh Johnson’s Pocket Wine Book, Wine Behind the Label and the Academie du Vin. Budd is a keen photographer – especially in the Loire.