Maximum Director Disqualification for Fine Wine Scam
Following an investigation by the Insolvency Service, the former director of Bordeaux Fine Wines Limited, a company which sold wine to members of the public, has been disqualified until 2030 for failing to purchase at least £9.3 million of wine pre-sold to investors. His disqualification means that he is unable to promote, manage or direct a limited company for 15 years, being the maximum disqualification period available.
The director accepted his disqualification by way of undertaking, having admitted to failing to purchase and/or allocate at least 1,750 cases of wine to satisfy purchases made by his customers and to having received dividends from the company totalling over £10 million. The director’s dividends were, incidentally, in excess of the value of the wine that the company ought to have purchased for its customers and shows the scale of the director’s misconduct.