Australian Wine Index review: boiler room wine investment scam 416

Hi aggrieved investors, we have finally transferred over our own wines from CWT (under AWI) to Menlo which is now under our own control. That completes our stage one of our plan. We are now preparing our stage two, exit strategy. We have our resources and are consolidating and started communicating with potential and genuine buyers on our list of wines. One point to note, the more desperate an investor becomes, the importer cum broker will be riding on the opportunities to gain and make their bucks out from you. Will give further update soonest. Should anyone like to discuss more, appreciate your email to alpchip@yahoo.com.sg cheers

If all these are true, they are now crossing the sea to attack Malaysia with the scheme. I have not invested on it but it is indeed appealing with their presentation. They run by the company name XBI. I haven't heard any complaints from my fellow Malaysians, maybe it is still new and they have not encounter the problems like you guys. Thanks for all these reviews because I am already having second thoughts.

I signed the order form but haven't pay yet. I cancelled the order just now and they were not very happy. They said when I signed it means the wines are belong to me and it is already on the way. I asked if my order is cancelled but there was no answer from them. Will I get into trouble for that? I have not pay anything yet. Can anyone advice on this? Please email me at edwynlow@gmail.com

Plse contact me if you are keen to take legal action.

Hi Shuloto, on 25 Nov you mentioned that you are going to their office. So, any luck to sell off your wines?

By the way, has anyone managed to sell off their wines so far? Can share, pls.

I have strong evidence to sue AWI, make sure AWI bankrupt.

Hi bros, wishing everyone a blessed and fresh year ahead with wisdom, peace, abundance of provisions and protection, good health. I have already transferred all my wines together with 2 other bros into Menlo in November last year. Pls kindly write to me for further discussions at alpchip@yahoo.com.sg Let's pull our resources together.

OMG! I called up Menlo and was told that Menlo no longer has any dealing with AWI. I asked what happen to my wines previously stored there thru AWI and was told to check with AWI instead. Does any bros out there has the same situation i am in? And what happen after that?

Can share with me, pls

Folks, watch out for AWI latest trick….Step 1 - call u to tell you that they are aware that the “previous” mgmt did not focus on helping investors liquidate their assets. They are a new mgmt and that all the previous associates had been purged…basically AWI try to empathize your situation and agree with you that the “previous” mgmt suck……Step 2 – when you are at their office, they will re-emphasize that they are focused on helping you liquidate your wines as they realized that if they do not help investors offload their wine, investors would not buy more…sounds good right? … Step 3 - they explain that they have nothing to do with the “previous” mgmt and that to offload your wines, there are cost of storage and marketing that would be incurred & guess what? Your wines had increased in value significantly. It’d be easy to sell your wines… Step 4 – whip out a contract…states that they have to sell your wines in 3 years or buy it back at market value! ...Step 5 – the cost of liquidating your wines are about 20% - 30% of your initial portfolio and you have to pay NOW (of course…how else to milk you right?) .……..so where’s the catch?...Question1 – why would any investor buy over a company with a poor reputation and filled with liabilities?...Question 2 – buy back your wines at the end of 3 years at “WHOSE” market value? Langton’s last traded price? It is not stated. It is an arbitrary value quoted by AWI……Question 3 – If at any point after you had handed your hard earned money, AWI recycle the company (another “new” mgmt take over or it closes..) what are your reprieve options? Check the paid up capital…..not even enough for you to hire a decent lawyer. Final words….do not be scam again by this deceitful company. It hurts to see so many losing their hard earned money to AWI….caveat emptor!

Spoke to these guys a few days ago. There are a bunch of confidence tricksters out to squeeze you dry. Their scam is so obvious, its almost laughable. Take ownership of all your portfolio and find you own ways to liquidate or consume. I will advise you not to throw in good money after bad.

Dear All, I visited AWI today and signed the order form just now... when I reached home and read all the comments posted in complaintsboard.com, I realized that I falling into a scam! I haven't paid them the money yet, If I cancelled my order will I run into any trouble? Anyone have same experience, pls share with me urgently, thanks!

@poor gguy, don't worry. They will not do anything. Have you even heard a crook using legal means to sue an upright person and the law help them to extort monies from the innocents? No money down, no contract is form. Don't worry. If not wrong, the authorities are checking on them. I am one of the victims too, now looking to exit. Chip Munk how is the going on your side? Sold off the wines already? Please update us.

We have been called yesterday to attend a private meeting at Suntec. The story goes like : A major director bought into AWI and found that his investment was not what it turned out to be. He become the whistle blower and release the investor's detail to seek a class act against AWI. The lawyer will file this in Australian court on our behalf in the hope to recover back 60% of the investment. Meanwhile, to help us get out of this, they (ITRA) offer us to do a transfer of this Huschinson -Barley REIT realty group to buy into a fraction of the $58, 500 REIT. After 2 years, we will get out of it. We walked in to address a scam, only to walk facing another, wanting us to put similar amount of $$ !

Hi all, I am a victim of this scam too. If we do take the wines out from AWI, how and where do we go to sell the wines? Please advise.

I fell into the same scam, 10yrs ago, and now, facing a new team, but scammed again.
Stupid me, now I cannot find their GM, not their Compliance Director, Ryan Soh.
Are they gone?

They are now in Malaysia operating under XBI (The Bottled Wealth). Their office is a few simple offices in Sentral. They are procuring contacts and filtering out potential clients who are earning >RM100k per annum. They will then cold call and then promise the potential client with ~RM400+ worth of vouchers (Jusco or Isetan, victim's choice) and a bottle of crap wine - just to hear them out. Well, managed to waltz in and out and collect the promised items within 2hrs. Free monies for me, which i guess came from the pains of you guys. Thank god I didnt invest any money on the spot, simply because Australian wine are crap (IMHO), and I have a strong distaste for them. But if their claims of approaching me is just so that I am aware of wine investment then I guess they are successful. I will be investing in French wine in the very near future with a reputable broker, or just doing my own trading (and arranging for storage on my own). Definitely not with them :D

The story goes like : A major director bought into AWI and found that his investment was not what it turned out to be. He become the whistle blower and release the investor's detail to seek a class act against AWI. The lawyer will file this in Australian court on our behalf in the hope to recover back 60% of the investment.Is the above fake also?

I would like to discus more, will contact Alchip or Angry Investor please contact me

Hi all, I am also a victim of this scam too. If we do take the wines out from AWI, how and where do we go to sell the wines? Please advise.

I got a call from AWI (Mark Herd) yesterday, he mentioned that he wants to discuss about my portfolio.
First he asked me where am I now, and told me that their managmnet has been changed. I asked about the status of my inversment, but he insist to talk face to face in Singapore (isn't it strange, why can't we talk on the phone? ). I keep asking about the status, but he didn't answer my question and told me that he will call me back in 2 days. Of cause he didn't call and I think he won't call me back.

Have anyone received cheque payments of more than the additional amount you further invested so far? If not, what is the proportion you received? Thanks

Does anyone knows where is our wines now? at CWT? how to withdral?

Hi guys, to withdraw your wines, go down to AWI office to fill up the withdrawal form.

Hi,
Anyone managed to sell any wines ? Please kindly advise.
Any luck when reporting to CASE ?

DCheng
What do you mean you can't find Jack Brown or Ryan Soh are they gone? When I call they are "always busy" or "everybody's busy"
They promise you a dream investment but turns out to be nightmare

Hi, I am also one of the victims. Recently AWI contacted me and offered a one year contract to sell off my wines and if they can't sell off, they will buy over all remaining wines at market value. But I have to pay upfront appx. $3000 for their cost of selling the wines. Anyone has signed and accepted the offer receive cheque or able to sell off your wines?

Hi AWI,
I made that mistake and pay additional SGD5k, the contract that they gave me will expire this Sept. I'm not sure what excuse they going to come up this time. They are getting bolder, the problem here is no action or complaints taken against them. Even if we do, is there any guarantee we will get our hard earn money back. If there is a solution, please count me in. I sent an e-mail to Commercial Affairs Department, i was told they can only investigate if there is an element of cheating. If we all can get the numbers and stand together as a team, i believe we can get our case to be heard.I let you guys to decide.

hi all, I am a victim too...if anyone is ready to take action, please count me in. you may contact me on kiran212atgmaildotcom

Hi all, please drop me an email kiran212atgmaildotcom, lets talk over the phone, take some action. AWI has offered to sell 12 bottles out of 96 that we have. in tuen we have to buy 42 bottles of some other wine. the sales of our wine will offset the price by half. They promise that they will sell all wines in next 18 months.

Done know whether to believe them? Does anyone smell a rat in this strategy too?

Folks count me in, I have 36 bottles amount value at total $5K.
My email is jamestrack@ymail.com Think we should all meet up for a discussion. Share our knowlege and experience . Maybe all came together a lawyer or all go down to the warehouse and claim our wine.I, m prepare to call police or even reporters. Folks at these point don, t sign any thing with them.. they are scam expert in getting you sign for things that only favours them

Unfortunately I'm also a victim to this scam. Please count me in furthering the case against them. Von

Any updates on this? I'm thinking of having some cases shipped to Aukland.

Looks like i am a victim too... They just called me up today to say they can sell my wine. But i need go to their office tomorrow to sign a paper so they can help sell. If they want me to top up $$ just to sell my wine, it is indeed a scam and no way will i pay... lets see what they have to say tomorrow. If thats the case, i may as well withdraw my wine and sell on my own. and i will contact you guys. Keep you all posted again.

I am surprised nobody here has reported this to the CID (Criminal Investigations Division) yet. They will definately crack down on these guys. They have very patiently kept in contact with me for more than 1 year - sending me updates, reports, calling etc. I recently visited their office at One Raffles Quay #09-05 North Tower Singapore (yes, got my cheap wine, but he didn't give me my S$150 voucher!), and felt uneasy. I have had such a similar experience in Los Angeles before; it was a show with bad costumes and poor actors.
I did not invest, so I cannot report them. Those who invested, can. Do it!

Okay I am going to take the lead. Lets meet next week on Wednesday at 7pm in raffles place (exact location will be given only to those who confirm to meet so that we keep the venue confidential from the bad world of internet). Please bring ur contracts along. Please email your confirmaconfirmation to me on kiran212@gmail.com

count me in as well ... my email is gp5611@hotmail.com .. I have time and the means to help bring these guys down

I just made the payment yesterday!OMG...can I lodged in police report & get refund?

was threaten by this portfolio manager Yannick Eloy and shouted at me.

Yes, was
threaten and shouted by this Portolio Manager Yannick Eloy.
only interested to make you join membership and cannot show past auction

? What did he say?