Premier Cru—Ponzi Scheme

ponzi scheme attorneysPremier Cru Allegedly Ran a Fraudulent Wine Ponzi Scheme

Imagine you had been in the market for a Rousseau Chambertin 2012, which has a market spread between approximately $1,350 and $2,020 from various United States vendors. Then, perhaps, you see the same bottle listed at $1,299 by Premier Cru, a Berkeley-based fine wine purveyor. What would you do?

Many wine investors and enthusiasts chose the latter, and invested their money in Premier Cru’s “pre-arrival” basis program.  The FBI, however, is looking into this program, and has confirmed that it is investigating Premier Cru and claims of a Ponzi scheme involving the California wine dealer. Premier Cru’s owner has also filed for personal bankruptcy, the FBI reports.

The Peiffer Wolf securities lawyers are currently investigating Premier Cru and its alleged Ponzi scheme, and investors are encouraged to contact Peiffer  Wolf for a free evaluation.

Premier Cru Allegedly Waited for Years for Delivery, Misrepresentation and Fraud Allegedly Took Place; $70 million in Debts to More than 9,000 Customers Contrasted with Only $7 Million in Assets

Premier Cru allegedly left customers waiting years for wine delivery, listed $70 million in debts owed largely to more than 9,000 customers, and carried only $7 million in assets, according to a recent FBI reports presently being reviewed by attorneys Joe Peiffer and Jason Kane.

In addition, Premier Cru is facing customer lawsuits alleging that it committed acts of fraud and misrepresentation had taken place, the FBI reports.

Premier Cru, which was run by a partnership under the name Fox Ortega Enterprises, and was widely known for its active email program that sent out wine deals to potential purchasers around the globe, is now e of the largest defaults in American wine retail history.

Securities Lawyers Investigating

The Peiffer Wolf securities lawyers often represent investors who lose money as a result of alleged Ponzi schemes and are currently investigating Premier Cru’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 entrusted money to Premier Cru are encouraged to contact Peiffer Wolf for a free evaluation.

Investors who believe they lost money as a result of Premier Cru’s alleged Ponzi scheme are encouraged to contact the securities lawyers at Peiffer RWolf, Jason Kane or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at 585-310-5140.

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In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.