Alleged Ponzi scheme fraud hits Bordeaux Cellars

Andrew Fuller, the former Chief Financial officer of Bordeaux Cellars is fighting extradition to the US over an alleged $99 million Ponzi Scheme.

Bordeaux Cellars Ltd, and Fuller's other business Bordeaux Cellars London, offered investors returns based on their holding of fine wine. Much of the wine did not exist, thereby defrauding investors of their money.

A Ponzi scheme is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors.

Fuller denies all the allegations, laying the blame at the company founder Stephen Burton. His lawyers said that Fuller had no knowledge that Burton had devised the scheme and are opposing his extradition citing a risk of self-harm and damage to the mental health to him and his wife.