A British man has been sentenced to three years of probation and ordered to pay over $200,000 for his involvement in a fraudulent wine and whisky investment scheme that targeted elderly individuals in the US. Casey Alexander, a 27-year-old from London, was sentenced by a US court in Ohio after pleading guilty to conspiracy to commit wire fraud.
US District Judge Solomon Oliver sentenced Alexander to probation and ordered him to pay $202,195.58 in restitution to the victims of the scheme.
According to the US Attorney’s Office for the Northern District of Ohio, more than 150 victims across the US were scammed out of over $13 million in the wine and whisky fraud scheme, as uncovered by FBI investigators.
Court documents revealed that Alexander and his accomplices operated a cold-calling scam, specifically targeting elderly investors. They used aggressive and deceptive tactics, promising significant returns on investments in wine and whisky.
The fraudsters convinced victims to purchase portfolios of fine wines and whiskies, which they claimed would be stored in a bonded warehouse in Europe until they could be sold at a profit.
Victims were persuaded to wire funds to one or more suspicious companies and were encouraged to invest further for even greater returns.
The scam began to unravel when the son of a victim contacted the Highland Heights Police Department, reporting that his parent had been defrauded of more than $300,000 over 18 months. This complaint, made in 2020, led the police to uncover similar cases of wine investment fraud in other parts of the US.
The case was investigated and prosecuted under the Elder Justice Initiative Program, which combats elder abuse, fraud, and neglect. Alexander’s sentencing coincided with Elder Abuse Awareness Month.
