A London woman who ran a £5 million wine investment scam with her brother was convicted for the offence on Wednesday (July 17).

Dina Snelling, aged 53, of Invicta Close, set up Nouveau World Wines Ltd and Finbow Wines Ltd, which started trading in June 2007 and September 2009 respectively, with her brother Daniel Snelling, 38, from Sutton. Southwark Crown Court heard how they used a sales team to cold-call members of the public and promote two promising wine investment schemes.

Nouveau World Wines Ltd investors were told their money would be spent on Australian wines which would be stored in Australia before being sold on for great profit. Finbow Wines Ltd investors were told they were purchasing Italian wine which would be shipped to China, South Africa and India.

Victims were sent glossy brochures and called back to close deals. They were sent false documentation claiming the wine had been purchased when, in reality, only £478,000 was spent on wine. Police believe more than 100 people were duped – many repeatedly.

The Snellings were in the process of moving to a third company, M2M, when police arrested them in March 2010. Dina Snelling was found guilty of two counts of conspiracy to defraud. Daniel Snelling was found guilty of two counts of conspiracy to defraud and two counts of converting criminal property. Both pleaded not guilty to all charges. They will be sentenced at Southwark Crown Court on September 9. Detective Inspector Paul Whatmore of the Met’s fraud squad, said: “This was a callous family-run plot to dupe people out of their cash.

“The Snellings went to great lengths to fool victims into believing they were offering irresistible and sound wine investments. “They created glossy promotional brochures, set up fake offices for investors to visit in the affluent areas of Canary Wharf and Mayfair, and created fake certificates to claim investments were real. “However, the vast majority of wine did not exist, the investments were not made and the money was spent by the Snellings on nights out, designer clothes and jewellery, expensive accommodation, luxury cars and cosmetic surgery. “Had we not arrested them, they would most likely have gone on to create any number of additional companies and take many more victims’ money.”

Posted in Investment News
4 comments on “
  1. dave911 says:

    scary… my father-in-law recently invested in Wine, I really don’t want to show his this article..

  2. Ryan Kellogg says:

    There are some good wine investments around, wine investments are usually long term which is why scammers target it. my advice is don’t invest with cold callers and always to your own research… I find that going through a reputable website such as http://www.alternativeinvestorportfolio.com/ is the safest thing to do.

  3. dave911 says:

    This site just lists investments, they are who you are investing with so way would they be safer?

    • Ryan Kellogg says:

      you mean http://www.alternativeinvestorportfolio.com/? you should of clicked reply rather than posting a new message.. Yes you are correct…. but i had a friend who wanted to advertise on this site but his investment didn’t pass their due diligence. It wasn’t a scam, It just wasn’t somethingthey were comfortable advertising on their site…. which tells me if it’s advertised on this site then it’s a sound investment….. that’s all I’m saying

Please Leave a Reply or Comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Top Posts & Pages
July 2013
« Jun   Aug »
Which Investments Blog Stats
  • 8,153 unique visitors
%d bloggers like this: