Watch out: wine investment scam cold calling

Just a quick alert. Beware of anyone cold calling selling wine as an investment. I know this sounds like obvious advice, but some people seem to ignore it.

Lionel Nierop, who runs Bid For Wine, told me that he’s discovered that a scam company had been cold calling consumers, selling wine as an investment while pretending to represent Bid For Wine (who don’t use any telephone sales techniques). This is quite scary for someone like Lionel, because if consumers paid for wine, and then it failed to materialize, he’d be left to pick up the pieces.

Jancis Robinson has written on the topic here.  And Jim Budd has bravely published a list of companies he wouldn’t buy wine from here.

Be careful who you buy your wine from.

17 comments to Watch out: wine investment scam cold calling

  • huw thomas

    i have been cold called by a company called vintage vines trying to get me to invest in their fine wines. i tried to find a little info on them but their website (www.vintage-vines.co.uk) is ‘under construction’, they are a fairly new company and very persistant in getting me to invest.
    any advice?

  • David Millar

    I have been contacted by the same people and 6 months on, the website is still under construction. My tel no. is ex-directory and I am registered on the TPS but these people do not seem to care about that. It seems obvious to me that this is a scam. They have sent me a literature pack which seems very good but I have passed it to my MP as I feel something should be done at the highest level re. these scams and persistent telephone nuisances.

  • James A . Needham

    I was as well David (contacted this month – early Dec. 2012). It’s certainly plausible concept and very well presented – but I’m not biting. There was another similar one recently which offered green energy bonuses – they weren’t as pushy as the fine wines lot though.

    Spam – and its telephonic derivatives it seems – is evolving…

  • John Mead

    Has anyone dealt with a company by the name of Prestige Wine Collection? I transferred my stock of wine held at LCB for them to sell and reinvest in May 2013. Since August I’ve being trying to contact them. They still have a web site http://www.pwcollections.co.uk/ but there is no reply from any phone calls or emails post sent to them has been returned and I’m told they have moved out of their office. I’ve also sent post to their director which I found in the Companies in the UK web site this was returned informing me he had moved.
    I would not invest in wine again you need be very careful who you deal with.
    I had a portfolio of £30,000 of wine held at LCB in my name that I had built up over the last three years which is a lot to lose.

  • Mike B

    I also got caught out by pwc John. I transferred £20,000 worth from LCB in Feb 13 and haven’t heard from them since. I reported them to the fraud squad and sent debt collectors but no avail. I too would never invest in wine again!

  • john Mead

    Mike I have also reported it to fraud squad and also Trading Standards, Croydon. Did you deal with someone by the name of Dave Smith at PWC.

  • Michael M

    I got a call from a company yesterday about investing in fine wines. The guy knew everything about me, name, full address, home and mobile tel numbers. He says he is sending me an information pack and will phone me again in a couple of weeks time to discuss my investment. To him it wasn’t a matter of will I? it was how much?

    Anyway, I opened a new account with Santander last week as I am retiring at the start of May and I will be having a large lump sum payment made into my account so I wanted the best interest paying account I could get.

    I’ve more than just a funny feeling the 2 were connected.

  • Mr W

    I’ve been having persistent, nuisance phone calls from a fine wine company trying to sell me wine which will increase in value when the FIFA World Cups start in Brazil. After telling the guy to F*** off the guy asked me to hear him out. He told me he was sending me some literature through the mail about it. I said OK then just to clear him off.Yesterday these clowns sent me an invoice for £12,000 telling me I’m involved in a legally, verbal,binding agreement to pay for this wine by Friday 25th April 2014.

    They then had the cheek for someone to ring up from their accounts department asking for payment. He was told to F*** off as well.

  • Mr J

    I work in a serviced office in 5 Harbour Exchange, London and there is a group of young lads (late teens) working in the same building cold calling people selling the opportunity to invest in wine. I believe they may be called London Wine Exchange but not 100% certain. They make dozens of calls every day and definitely sound very shady.

  • Mr W

    These guys call themselves Premier Cru Vintners. The last telephone call I received from them, on Friday 25th April 2014, a guy calling himself Spencer Walnut, (LOL), rang demanding payment and threatening me with the bailiffs on the following Monday if I didn’t pay £12,000 there and then.Well I’m still waiting for the bailiffs to turn up.

  • Mr A

    We just had a very very ignorant man on the phone by the name of Trevor Campbell. He told us to shut our mouths and listen to him and because I never spoke to him he told my wife it was none of her business who he was and a load of other dogs abuse. Reason behind it was because we chose not to invest in the probably dodgy schemes.

  • Yesterday I was contacted by phone by wine investment company, who said they would send me literature about their services and that next week someone would contact me about investment opportunities. I explained we’ve just bought a house and I run a business, into which I have invested all my money, but today I was contacted again by a ‘senior advisor’, who recommended a wine for me and then proceeded to get me to buy into it. I told him politely at first that I had no spare money, to which he answered “But it’s only £600!”. I told him firmly that, at present, I didn’t have that much spare. He then said to me, “Take it from your ISA”, after which I told him that I did not like being pressurised into something I couldn’t afford. I cut the call off abruptly – but sadly I was so livid I’ve forgotten what the company was called… however, I do have the caller’s name….

  • Jaqueline Matthews

    called by these bogus today, as soon as I realised they wanted money I cut off the call. Dial 1471, caller withheld their number, if they were genuine they’d have a number you could call them back on. Absolutely FED UP with all these dead numbers and cold callers, all bogus, all numbers withheld! So sad for all the people who get conned by them, smarmy, creepy lot……………..

  • Charles S George

    I was cold called 4 times by the “London Wine Exchange” in the September of 2014. The 1st time was 10-15 minuets of corporate spin. I thought it sounded dodgy and to good to be true, so I refused. They sent me a company publicity magazine the next week. A few days later I was hit by 3 cold corporate calls harassing me in to agreeing to buy. I said I was not interested and slammed down the receiver.

  • Charles S George

    The “London Wine Exchange” guy who tried to pressure me in September 2014 was called “Joseph”.

  • Charles S George

    I also got cold called over land ‘banking’, wheat, deodorant, high-end car and diamond investments last May/June. I think the bloke trying to sell me the dodgy cars was “Joseph” from the “London Wine Exchange”.

  • I have been contacted by cold call, by B.C Fredericks. Same scam as everyone else, I told them to send me some info, The same day I got the paperwork I received another call from a senior negotiator. I have told them to call back today of which I will accuse them of being bogus , their website does not open, and they have filed no returns at companies house , although they are registered as a retail outlet offering deals of , Two meals for price of one etc. …. The saga continues.

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