fraudsters jailed for duping wine investors out of nearly £1m

 Home page of Mayfair Worldwide Trading Ltd

 Mayfair Worldwide Trading Limited
– ‘Trusted Worldwide’ !!!!

Christopher Brummitt

currently on the run 

Press release: 5th April 2019


‘A group of fraudsters were jailed for a combined 17 years and 9
months today for their part in an elaborate wine investment scam which
conned nearly £1m out of investors, many of whom were elderly and
vulnerable.

Adam Edwards, Barry Warner, Christopher Brummit, Tarik
Drissi and James Brooks were today sentenced at Southwark Crown Court
for their actions between 2013 and 2015.

The five men operated
three fake companies – Mayfair Worldwide Trading Ltd, Commodex Global
Limited and Winchester Associates Ltd. These companies claimed to be
established fine-wine brokers based in prime locations such as Berkeley
Square, Mayfair but were in fact based in industrial estate units on the
outskirts of Great Dunmow in Essex.

The gang cold-called
fine-wine investors from a ‘sucker list’, and through a series of
aggressive sales tactics, managed to defraud a number of wine holdings
from vulnerable victims. Once these had been obtained, they would be
sold on to legitimate buyers, with the proceeds pocketed by the
fraudsters.
Victims were then told a series of elaborate lies
about the whereabouts of their money. Some were told that their wine had
been reinvested into graphene, diamonds or gold.

Sian Mitchell from the CPS Specialist Fraud Division said:

“This was an unscrupulous gang who would go to great lengths to
defraud elderly and vulnerable people out of their very valuable wines,
many of which represented their savings for their retirement. One of the
victims was a disabled man who, as a result of not receiving payment,
was unable to buy a new wheelchair.

“They went to great lengths to
legitimise their fraudulent activities – Mayfair Worldwide Trading
issued a bogus press release claiming that the company had won the ‘2014
ID Times Trading Award for Best Asset Exchange Programme and the
Internship Europe Excellence Award.’ Obviously, no such awards existed,
and were designed to dupe innocent investors.

“We are delighted to
have secured custodial sentences for this group, and will continue to
prosecute those who think they can benefit from fraud.”

How the wine fraud operated

1.  
 Victim A is cold called by ‘David Barrington’ from Mayfair World
Trading. Having in reality spoken to the defendant Adam Edwards, Victim A
agrees to sell his wines to Mayfair Worldwide Trading (MWT) for £38,228
in a ‘graphene asset swap’, on the understanding graphene will be sold
and the sum paid to him in 28 days
2.    The victim instructed LCB Bonded Warehouse to transfer wines to the account of MWT at EHD Bonded Warehouse
3.    A legitimate buyer, Vintners Fine Wine Merchants Ltd, agree to buy
the wine for £27,470 and instructs EHD to transfer wines to them
4.    Vintners Ltd transfers payment of £30,970 for these wines (and
£3,500 worth of other wine) to the bank account of MWT – none is paid to
the victim.
5.    Having spoken to another employee
with an assumed name ‘Peter Phillips’ and told there is a problem with
the graphene market, Victim A is now told his wines will now be
converted to diamonds and sold
6.    Having received no money and struggling to contact MWT, Victim A contacts the police to report the fraud

Other details:

Sian Mitchell is a Specialist Prosecutor from the Specialist Fraud Division of the Crown Prosecution Service’

The successful investigation was a collaboration between Essex Police and the Met. 

Comment:
Good to see these fraudsters sent to jail. Hopefully Christopher Brummitt, who has fled, will soon be caught. However, would have liked to have seen longer disqualifications from serving as a director unless the disqualification period runs from time of release from prison. 

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