A man from the United Kingdom has been sentenced to three years’ probation for his involvement in a $13 million wine and whiskey scam that defrauded over 150 victims, many of whom were elderly, in the United States.
Casey Alexander, 27, from London, pleaded guilty to wire fraud more than two years after his arrest. He, along with his co-conspirators, executed a fraudulent scheme that targeted primarily elderly investors across the U.S. by making aggressive cold calls.
According to a release from The Northern District of Ohio’s U.S. Attorney’s Office, the scammers used deceptive tactics, promising substantial returns for investments in wine and whiskey. They convinced victims to purchase a “portfolio” of fine wines and whiskeys, assuring them that their purchases would be held in a bonded warehouse in Europe and later sold for profit.
Victims were instructed to wire funds or write checks to various suspect companies to seize the investment opportunities being offered. After their initial investments, the scammers encouraged them to invest even more, under the promise of greater returns.
The scheme began to unravel when an 89-year-old victim’s son reported the fraud to the Highland Heights Police Department in 2020, revealing that his parent had been defrauded of over $300,000 over 18 months. This led to a broader investigation, revealing numerous similar complaints throughout the U.S., prompting the FBI to step in.
As a result of the investigation, it was discovered that victims had collectively invested more than $13 million in the fraudulent scheme, with none receiving any returns. Among the victims was a 73-year-old from Grandville, Michigan, who initially wired $25,560 for what she believed was a rare wine investment, later investing an additional $60,000 based on the scammers’ convincing pitches.
Alexander was arrested on June 14, 2022, and released on a $50,000 bond. Along with his probation, he has been ordered to pay $202,195.58 in restitution for his role in the scam.
