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Articles Cayman Islands Featured Fraud InvestmentApril 30, 2005

Caledonian Bank staff targeted by Architects of Wine liquidator

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20 years ago

Topics

Cayman Islands Fraud Investment

Keywords

Architects of Wine AVE International AVE North America Bernard McGrath Caledonian Bank
Christopher Johnson David Sargison Dazebao Limited Les Garargistes New Fine Wines Marketing Paradigm Alliance Paradigm Holdings Paradigm Logistics Paradigm Wine Philip Bamford Ralf Woodford Robert Middlemiss Ultimate Wine Vijayabalan Murugesu Worldwide Wine
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Four current or former employees of Cayman Islands-based Caledonian Bank and Trust Limited are potential targets for legal action concerning the failure of a wine-based investment scheme.First, however, liquidator Christopher Johnson needs to raise money to fund any litigation and he intends to seek court permission to sell 285,717 bottles of wine – valued at €1,856,055 (US$2.4 million) – that are stored in a warehouse in Switzerland.