16 Aug John Fox & Premier Cru—Ponzi Scheme
John Fox Allegedly Uncorked an Elaborate Wine Ponzi Scheme where He Ultimately Bought Wine from Rival Retailers To Complaining Customers Waiting for their Select Vintages
Premier Cru owner John Fox lived the high life in the Bay, allegedly using company accounts to pay personal expenses including home mortgage payments, credit-card bills, tuition, fancy cars, and up to $900,000 on women he met online, according to Court Reports from California currently under review by attorneys Joe Peiffer and James Booker.
In reality, the cellar was barren. Customer complained when orders were not delivered. As a result, Fox allegedly finagled deliveries taking bottles from stock reserved for other customers or by purchasing it from rival retailers, even taking a loss on said transactions, according to reports from California.
The Peiffer Wolf securities lawyers are currently investigating John Fox and Premier Cru’s alleged wine Ponzi scheme.
John Fox Allegedly Allegedly Took in $45 Million from Approximately 4,500 Customers; Fox also Allegedly Took in $5 Million from Said Scheme
John Fox is rather blunt describing Premier Cru’s business model. He describes the rationale for alleged his “phantom wine” shell game. It which he said was done “to conceal my ongoing fraud, to lull customers into a false sense that Premier Cru was a legitimate business, to cause these customers to continue to purchase wines from Premier Cru, and to prevent them from complaining to law-enforcement authorities”, according to reports from California
Things came to a crashing end as Fox allegedly filed for personal bankruptcy, and as his Premier Cru business was being hammered with a deluge of lawsuits by angry customers in state and federal courts, according to Court Reports from California currently being examined by attorneys Joe Peiffer and James Booker.
Finally, from 2010 forward, Fox allegedly took in $5 million from said purported Ponzi scheme which allegedly took in $45 million from about 4,500, California Court reports also note.
Securities Lawyers Investigating
The Peiffer Wolf securities lawyers often represent investors who lose money as a result of alleged Ponzi schemes, and are currently investigating Premier Cru owner John Fox’s alleged Ponzi scheme. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Premier Cru owner John Fox’s alleged Ponzi scheme are encouraged to contact the Peiffer Wolf securities lawyers, Joe Peiffer or James Booker, for a free no-obligation evaluation of their recovery options, at 216-589-9280.