Another wine firm investigated over 'con'

Investigators have begun examining the accounts of Finbow Wine, a company claiming to have offices in London and Hong Kong.

The business offers lucrative returns to customers who invest large sums in premium French vintages and large quantities of Italian table wine.

It also sold investment packages in wine to be sold in South Africa during the football World Cup this summer.

But police suspect the company is simply a front for a cold-calling con that has left dozens of investors out of pocket.

Two men behind the company, director Paul Rees and colleague Simon Dempsey, have been arrested and questioned at a central London police station.

Police are investigating whether the company is linked to Nouveau World Wines, based in Bromley, south east London.

Salesmen at that company are suspected of duping people into handing over tens of thousands of pounds each to invest in specialist Australian wines.

Once the money was taken the investors were told the wine had been laid down in overseas vaults to increase in value as it aged.

Police are investigating if stocks were hugely over-priced and the size of potential returns exaggerated. It may be the case that no wine was ever stored.

Six people were arrested last month when officers raided offices and homes in in Docklands, Sidcup and Bexley.

Specialist internet message boards contain a large number of comments from customers concerned they have been ripped off by either company.

Detective Chief Inspector Robin Cross, of the Fraud Squad, said two further arrests were made after the first raids. A 40-year old woman and a 53-year-old man were arrested on suspicion of money laundering at a central London police station last month.