This article is from the source 'bbc' and was first published or seen on . The next check for changes will be

You can find the current article at its original source at https://www.bbc.com/news/articles/c24z99r6e99o

The article has changed 2 times. There is an RSS feed of changes available.

Version 0 Version 1
Wine fraudsters stole £6m from confused pensioners London wine fraudsters stole £6m from confused pensioners
(about 1 hour later)
Victims were overcharged - sometimes by 400% - to invest in wine, trading standards saidVictims were overcharged - sometimes by 400% - to invest in wine, trading standards said
Three men who stole at least £6m from 41 victims using a fraudulent wine investment scheme have been convicted.Three men who stole at least £6m from 41 victims using a fraudulent wine investment scheme have been convicted.
Benjamin Cazaly, 42, Gregory Assemakis, 39, both from Kent, alongside Dominic D'Sa, 45, from London, were found guilty of fraudulent trading on Tuesday at St Albans Crown Court.Benjamin Cazaly, 42, Gregory Assemakis, 39, both from Kent, alongside Dominic D'Sa, 45, from London, were found guilty of fraudulent trading on Tuesday at St Albans Crown Court.
An investigation by Hertfordshire Trading Standards found £37m passed through Imperial Wine & Spirits Merchants' accounts during the 10 years it was trading.An investigation by Hertfordshire Trading Standards found £37m passed through Imperial Wine & Spirits Merchants' accounts during the 10 years it was trading.
It said the long-running scam saw pensioners convinced to give their life savings to wine investments but were overcharged, sometimes by over 400%.It said the long-running scam saw pensioners convinced to give their life savings to wine investments but were overcharged, sometimes by over 400%.
Investors were told the company did not make money unless the wine was sold at a profit.Investors were told the company did not make money unless the wine was sold at a profit.
The company had the mantra "no means yes" written on the wallThe company had the mantra "no means yes" written on the wall
The company was founded by Cazaly in 2008 under the name Imperial Wines of London.The company was founded by Cazaly in 2008 under the name Imperial Wines of London.
It claimed to be a family-run investment house with international offices in Paris and Hong Kong.It claimed to be a family-run investment house with international offices in Paris and Hong Kong.
In reality, it was a call centre in an office building in Groveland Court, London, which was raided by trading standards in November 2018.In reality, it was a call centre in an office building in Groveland Court, London, which was raided by trading standards in November 2018.
The mantra "no means yes" was written on the wall, and they used films such as The Wolf of Wall Street to learn manipulation tricks.The mantra "no means yes" was written on the wall, and they used films such as The Wolf of Wall Street to learn manipulation tricks.
Cold callers using fake names followed scripts to persuade pensioners to hand over their money; these were found when the office was raided.Cold callers using fake names followed scripts to persuade pensioners to hand over their money; these were found when the office was raided.
Victims were sent glossy brochures that used logos from the Daily Telegraph and the Financial Times without permission.Victims were sent glossy brochures that used logos from the Daily Telegraph and the Financial Times without permission.
Hertfordshire Council said the jury was played a recording where a confused woman was asked for payment card details despite not knowing what a card was or who she banked with.Hertfordshire Council said the jury was played a recording where a confused woman was asked for payment card details despite not knowing what a card was or who she banked with.
Trish Burls from National Trading Standards said: "Victims in this case lost thousands of pounds through a co-ordinated scam of lies, deceit and manipulation.Trish Burls from National Trading Standards said: "Victims in this case lost thousands of pounds through a co-ordinated scam of lies, deceit and manipulation.
"The criminals exploited people's passion and enthusiasm, preying on them to invest while stripping many of their life savings and causing significant emotional distress."The criminals exploited people's passion and enthusiasm, preying on them to invest while stripping many of their life savings and causing significant emotional distress.
Ajanta Hilton, executive member for community safety at Hertfordshire County Council, added: "The stories of those targeted with this investment scam are devastating.Ajanta Hilton, executive member for community safety at Hertfordshire County Council, added: "The stories of those targeted with this investment scam are devastating.
"I'd like to thank them for their bravery in telling their stories so that these callous criminals could be brought to justice.""I'd like to thank them for their bravery in telling their stories so that these callous criminals could be brought to justice."
Follow Beds, Herts and Bucks news on BBC Sounds, Facebook, Instagram and X.Follow Beds, Herts and Bucks news on BBC Sounds, Facebook, Instagram and X.