Billionaire Bill Koch wins fake wines case
A US billionaire has won a court case in which he complained that wines costing thousands of dollars a bottle were phony. Bill Koch sued businessman Eric Greenberg over what he said was a batch of fake wine in a US$3.5 million purchase he made at auction.
A US billionaire has won a court case in which he complained that wines costing thousands of dollars a bottle were phony.
Bill Koch sued businessman Eric Greenberg over what he said was a batch of fake wine in a US$3.5 million purchase he made at auction.
The jury in a US federal court agreed and awarded him compensation, Koch's lawyer John Hueston said.
"They awarded total compensatory damages of approximately US$355,000 and another US$26,000 in additional damages for findings of wilful misconduct," Hueston said.
The legal battle started in 2007 following an auction in which Greenberg consigned part of his 70,000-bottle-strong cellar for sale. Koch bought 2,669 of the bottles.
They were extraordinary labels, including a Chateau Latour 1928, worth US$2,873, a Chateau Latour 1864, several Cheval Blanc 1921s, and a Chateau Petrus magnum from 1921 that was bought for US$29,500.