A United Kingdom citizen has been sentenced to 10 years in prison in the United States for his role in a multimillion-dollar fraud scheme that defrauded investors into financing a fake fine wine business.James Wellesley, also known by the aliases “Andrew Fuller” and “Andrew Templer”, was sentenced in federal court in Brooklyn. He was also ordered to forfeit $1 million, with compensation to the victims to be determined at a later date.Wellesley was convicted of wire fraud conspiracy involving a fraudulent investment operation that defrauded more than 140 victims worldwide of more than $97 million.In announcing the sentence, U.S. Attorney Joseph Nocella Jr. said, “Unlike a good vintage that gets better with time, the defendant will spend years in prison to reflect on his fraudulent wine scheme. James Wellesley set out to inspire investors around the world to invest millions of dollars in lies.”FBI officials said James tarnished the reputation of a prestigious wine industry: “James Wellesley swindled nearly $100 million from investors by pretending to be an executive broker for the finest wine collections. Wellesley tarnished the reputation of a prestigious industry as well as the trust of his customers. The FBI continues to stop fraudulent schemes that steal from victims’ wallets.”The fraud ran from June 2017 to February 2019. During this period, Wellesley and his co-conspirator Stephen Burton operated through a company called Bordeaux Cellars, presenting it as a legitimate wine investment business.He told investors that the company arranged loans between wealthy wine collectors and investors, using expensive wine as security. Investors were promised regular interest payments, and Bordeaux cellars would keep the wine safe.However, prosecutors said these claims were not true. Wealthy borrowers did not exist, and wine was never actually put up as security. Instead, the money from the new investors was used to pay off earlier investors and for personal expenses.Victims initially received “interest payments”, allowing many to reinvest their money. In reality, these payments were funded by fresh investor cash rather than actual returns.Of the more than $97 million raised, only $14 million was returned to investors before the scheme collapsed, bringing losses to more than $83 million.Wellesley’s co-conspirator Burton pleaded guilty to racketeering conspiracy and money laundering conspiracy in July 2025 and is awaiting sentencing.
