Jailed Loan Broker Downplays Role In Wine Fraud

Law360, London (June 17, 2020, 5:16 PM BST) -- A jailed wine broker has denied ripping off more than 100 investors with a fraudulent scheme that promised high returns on loans, telling a judge that he was merely following the instructions of his business partner.

Stephen Burton claimed in a defense filed at the High Court on June 12 that he was a "figurehead" at Bordeaux Cellars London Ltd. who knew about wines. But he relied on his former partner to arrange loans for the business, he claimed.

Investors have accused Burton and the company of duping them into funneling some $6.7 million into a loan scheme on the promise of...

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