John Fox & Premier Cru—Ponzi Scheme
John Fox Allegedly Orchestrated a $45 Million Vintage Ponzi Scheme
Premier Cru Owner John Fox ran a famous Bay Area wine shop in Berkeley for decades. His customers included Arthur Patterson, of Accel Partners and an early investor in Facebook, who purportedly dropped $837,000 on vintage wines at Premier Cru, according to reports from California.
Unfortunately, John Fox was also allegedly serving up a massive $45 million Ponzi scheme with hints of purported fake names and multiple bank accounts used to siphon cash out of the company, according to Court Reports from California currently under review by attorneys Jason Kane and James Booker.
The Peiffer Rosca Wolf securities lawyers are currently investigating John Fox and Premier Cru’s alleged wine Ponzi scheme.
John Fox Allegedly Allegedly Falsified Purchase Orders for Wine Not Contracted, Enter It into Premier Cru’s Inventory and then Offer Said “Phantom Wines” below Market Price
Premier Cru Owner John Fox allegedly fermented a multi-million dollar wine Ponzi scheme by allegedly falsifying orders for wine not yet obtained and then registering them into Premier Cru’s inventory for sale, according to Court Reports from California currently being examined by attorneys Jason Kane and James Booker.
Fox, according to reports from California, began this practice in 1993 or 1994, and from 2010 to 2015 his customers allegedly paid about $20 million for these so-called “phantom wines”.
Fox’s prowess allegedly reached from the Bay to NYC and even all the way to Asia. Amanda Gong of Harbin, China purportedly sunk $669,000 into the company which now allegedly shows $70 million in debts offset by only $7 million in liquid assets, according to reports from California.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged Ponzi schemes, and are currently investigating Premier Cru owner John Fox’s alleged Ponzi scheme. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Premier Cru owner John Fox’s alleged Ponzi scheme are encouraged to contact the Peiffer Roscaa securities lawyers, Jason Kane or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520.