Wine investor fails to keep records,
ACA fined for abusing HMRC staff and ACCA takes action in Falmouth
case
Director caught in £10m wine scam
Paul Vanderhook, director of a wine investment company, who
raised £23m from investors and mis-managed the funds 'on a colossal
scale', has been banned as a director for nine years for failing to
keep proper company records, following an investigation by the Insolvency
Service (IS).
His company, Bordeaux UK, took £23m from investors between
2008 and 2011 of which only £4.6m was invested in wine. The company
went into creditors' liquidation on 30 November 2011 with debts of
£10m but with only £1.7m of wine available. Vanderhook benefited
from £2m while £13m cannot be accounted for due to missing
records, according to liquidator Nedim Ailyan.
