Three Men Jailed for £6m UK Wine Investment Fraud Targeting Pensioners

Three men running a fraudulent wine investment scheme called Imperial Wine & Spirits Merchant Ltd, which posed as a family-run investment house with international offices, were sentenced to prison for stealing at least £6 million from 41 victims across the UK. Benjamin Cazaly, the founder and "captain of the ship," received a six-and-a-half-year sentence; Dominic D'Sa was jailed for four and a half years; and Gregory Assemakis for three and a half years. The scam involved cold calling mostly pensioners, using scripts and manipulative tactics, including false claims that the company only profited if wines were sold at a gain, while marking up prices by as much as 400%, leading to significant financial losses for investors. Investigations revealed that, although some wine existed in bonded warehouses, many victims never received any wine despite paying large sums. The scheme operated from a call center in London, with misleading promotional material that misused reputable logos and targeted vulnerable individuals over a decade. The judge noted the severe personal impact on victims, including loss of pensions, homes, and in one case, a marriage.