NSW police launch search for missing $5M wine collections
Dozens of expensive wines have vanished from New South Wales Hunter region. Police are appealing for information on the missing prestigious wine collections, which include Penfolds Grange and other vintage brands, worth more than $5 million.
The wines were held by Wine Investment Services, which went into receivership in 2013. Its assets were seized, but the wines were not surrendered. Despite numerous inquiries from authorities, liquidators and owners, the wines remain missing.
Wine Investment Services was one of the companies controlled or owned by former James Estate Wines boss David James until the collapse of his empire in 2013, Sydney Morning Herald reports. Last week, James abandoned his case against ANZ Bank and receivers over disputed wine sales after his business collapsed.
Justice Michael Ball criticised the former wine mogul and ordered him to pay the bank’s and the receivers’ $210,000 legal costs. However, the judge also noted that James would be unlikely to pay as he still owed ANZ $11.75 million.
James alleged that the receivers appointed by ANZ sold his companies’ wine collections for far less than they were worth. The receivers were also allegedly guilty of trespass by taking control of assets. He abandoned his case after the defendants mounted a case showing the allegations “did not have a serious foundation.”
The State Crime Command’s Fraud and Cybercrime Squad has launched Strike Force Farrington in March to investigate. The police believe the wines have been stolen.
“As investigations continue, detectives are appealing for assistance from the public to locate the wine collection,” a statement from the NSW police said. “In particular, they would like to speak with anyone who may have purchased, or has been approached to purchase, collectable or vintage wines, including Penfolds Grange, varieties of Henschke, Torbreck, and Chris Ringland/Three Rivers.”
Anyone with information is urged to contact Crime Stoppers or call 1800 333 000.
