Kamal Ghorui
A United Kingdom citizen has been sentenced to 10 years in prison in the United States for his role in a multi-million-dollar fraud scheme that tricked investors into funding a fake fine wine business.James Wellesley, also known by the aliases “Andrew Fuller” and “Andrew Templar”, was sentenced in federal court in Brooklyn. He was also ordered to forfeit $1 million, with restitution to victims to be determined at a later date.Wellesley was convicted over a wire fraud conspiracy linked to a fake investment operation that defrauded more than 140 victims worldwide of over $97 million.Announcing the sentence, US Attorney Joseph Nocella Jr. said, “Unlike a fine vintage that improves over time, the defendant will spend years in prison to reflect on his fraudulent wine scheme. James Wellesley preyed on investors around the globe to induce them to invest tens of millions of dollars on lies.”FBI officials said James spoiled the reputation of the prestigious wine industry: “James Wellesley swindled nearly $100 million from investors by pretending to be an executive broker for fine wine collections. Wellesley spoiled the reputation of a prestigious industry as well as his clients’ trust. The FBI continues to stem fraudulent schemes that steal from the wallets of victims.”The fraud ran from June 2017 to February 2019. During this period, Wellesley and his co-conspirator Stephen Burton operated through a company called Bordeaux Cellars, presenting it as a legitimate wine investment business.They told investors that the company arranged loans between rich wine collectors and investors, using expensive wine as security. Investors were promised regular interest payments, and that Bordeaux Cellars would keep the wine safe.However, prosecutors said these claims were not true. The rich borrowers did not exist, and the wine was never actually kept as security. Instead, money from new investors was used to pay earlier investors and for personal expenses.Victims initially received “interest payments,” leading many to reinvest their money. In reality, these payments were funded by fresh investor cash rather than genuine returns.Of the more than $97 million raised, only around $14 million was ever returned to investors before the scheme collapsed, leaving losses exceeding $83 million.Burton, Wellesley’s co-conspirator, pleaded guilty in July 2025 to wire fraud conspiracy and money laundering conspiracy and is awaiting sentencing.
