British national Casey Alexander, 27, was given three years’ probation by a US court in Ohio for his role in a wine investment fraud scheme after pleading guilty to conspiracy to commit wire fraud.
U.S. District Judge Solomon Oliver ordered Alexander, a London resident, to pay $202,195.58 in restitution to victims for his role in the scheme.
According to the U.S. Attorney’s Office for the Northern District of Ohio, information uncovered by FBI agents to date indicates that more than 150 victims across the country invested a total of more than $13 million in the wine and whiskey fraud scheme.
Citing court documents, the suit said Alexander and others were involved in a cold calling scheme targeting elderly investors.
“They used aggressive and deceptive tactics, promising victims large profits if they would join them in investing in wine and whiskey,” prosecutors said.
“They told their victims that they could purchase a portfolio of fine wines and whiskeys on their behalf and store them in bonded warehouses in Europe until they could make a profit.”
According to prosecutors, victims were persuaded to transfer funds to one or more suspicious companies and encouraged to make further investments to secure larger profits.
The allegations began when the victim’s son contacted the Highland Heights Police Department and complained that his parents appeared to have been defrauded out of more than $300,000 over an 18-month period.
Prosecutors said that following this complaint in 2020, police found similar complaints of possible wine investment scams in other parts of the United States.
The incident He launched the Elder Justice Initiative program to support efforts to combat elder abuse, fraud and neglect, adding that Alexander’s sentence came during Elder Abuse Awareness Month.
