Investors who lost money through a wine investment scheme are being warned that scammers are making false claims they can recover their lost funds
The Insolvency Service has been made aware that victims of a wine investment scheme set-up by Global Wine Exchange have been targeted by recovery room scammers with false promises they can return their lost funds.
Global Wine Exchange was put into compulsory liquidation in March 2022 after the courts determined that the rogue company abused £1.9 million of investors’ funds. Misconduct caused by Global Wine Exchange included targeting elderly and vulnerable people, failure to deliver wine to customers, and false claims that wine was stored.
It has since been uncovered investors who lost money through Global Wine Exchange have been targeted by recovery room scammers, falsely posing as officials from a trading standards professional body.
The scammers dishonestly claim that if the investors do not engage with them and share personal details about their claim in the liquidation, which only the Official Receiver as liquidator can receive, their funds will not be returned.
Senior Examiner, Mark Ireson, said:
If you were an investor into Global Wine Exchange and have been contacted by a recovery room scammer, please report this to the Official Receiver: piu.or@insolvency.gov.uk.
Advice if you receive unsolicited approaches