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Wine merchant accused of €2.6M fraud through fake champagne and total wine investments

From luxury champagne to phantom wine investments, a merchant's elaborate scam left dozens bankrupt. How did he evade justice for so long?

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1 min read
The image shows an old advertisement for Bininger's Wine Bitters, featuring a picture of a man in a...
The image shows an old advertisement for Bininger's Wine Bitters, featuring a picture of a man in a suit and tie. The advertisement is printed on a piece of paper with text written on it.

Trial Against Sylt Wine Merchant - Wine Fraud? - Wine merchant accused of €2.6M fraud through fake champagne and total wine investments

A former wine merchant from Westerland on Sylt is standing trial for fraud and delaying bankruptcy. The defendant allegedly ran a scheme that defrauded investors of over €2.6 million. Authorities claim he used false promises to lure buyers into a deceptive investment model.

The accused had operated a wine trade business, a hospitality division, and a shop selling kitchenware and gourmet foods since 2003. By late November 2018, his company was already insolvent, with liabilities of €1.6 million and assets falling short by €1.5 million. Despite this, he continued taking investments in total wine and champagne.

Between December 2018 and October 2019, he convinced buyers to invest in wine, champagne, or cognac, promising returns or delivery. Over €1.7 million was collected through this scheme, but in 89 cases, investors received little or no money back. Many never received their ordered goods.

In April 2019, the defendant launched an investment fund, guaranteeing a ten percent annual return. He secured over €356,000 from multiple investors. After a fire destroyed his company's stock, he expanded the scheme to include self-produced gin.

The defendant also took out a €125,000 loan to buy champagne but never repaid it. He sold bottles worth around €163,000 without delivering them. Despite mounting debts, he only filed for bankruptcy in January 2020.

The trial follows allegations of commercial fraud and delayed bankruptcy filings. Investors suffered losses totalling more than €2.6 million. The case remains ongoing, with no official count yet of all affected parties.

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