British Man Extradited to US to Face Charges in $99M Wine Ponzi Scheme

Stephen Burton, along with partner James Wellesley, allegedly defrauded investors through their company Bordeaux Cellars, promising loans backed by non-existent high-value wine collections.

Stephen Burton, a British citizen, has been extradited to the United States from Morocco to face charges of wire fraud conspiracy, wire fraud, and money laundering conspiracy in connection with a $99 million wine Ponzi scheme.
Burton, along with his partner James Wellesley, operated a company called Bordeaux Cellars, which they claimed brokered loans between investors and high-net-worth wine collectors, secured by their wine collections.
From 2017 to 2019, the pair allegedly solicited $99 million in investments, promising investors that they would profit from interest on the loans.
However, the supposed high-net-worth wine collectors did not exist, and Bordeaux Cellars did not have custody of the wine securing the loans. Instead, the loan money was used for personal expenses and to make fraudulent interest payments to other investors.
Wellesley is currently in the United Kingdom, where he remains in extradition proceedings. If convicted, both defendants could face up to 20 years in prison.

U.S. Department of Justice