British man sentenced for wine and whiskey investment scam that targeted older Americans

A British man suspected of defrauding at least 150 Americans out of more than $13 million in fake investments in wine and whiskey has been sentenced to three years probation by a federal judge. In a case investigated by the FBI, 27-year-old Casey Alexander of London was sentenced by U.S. District Judge Solomon Oliver after pleading guilty to conspiracy to commit wire fraud and ordered to pay more than $202,195 in restitution to his victims, the U.S. Attorney's Office for the Northern District of Ohio announced Wednesday in a news release. Alexander and others involved in the scam were charged with making "cold calls" — unsolicited business calls — to elderly American investors. They "used aggressive and deceptive tactics and promised large returns if the victims participated in wine and whiskey investments," according to federal prosecutors. The scammers told victims they would buy a portfolio of fine wines and whiskeys on the victims' behalf, then hold the purchase in a bonded warehouse in Europe until it was sold for a profit. This was a scam, but Alexander and others "were able to convince the victims across the country to wire funds or make checks out to one or more suspect companies to participate in the investment opportunities," federal prosecutors said. Once initial investments were made, the victims were encouraged and convinced to keep investing to get larger returns, federal prosecutors said. In one instance, a victim's son called the Highland Heights Police Department, in a suburb east of Cleveland, in 2020 to report their parent had been cheated out of $300,000 over 18 months, according to the U.S. Attorney's Office. Highland Heights police then discovered similar complaints of a "wine scam." June is Elder Abuse Awareness Month, and if you see anything that looks like a scam targeting older adults, call the National Elder Fraud Hotline at 1-833-FRAUD-11 (833-372-8311) or make a complaint online at the FBI's IC3 Elder Fraud Complaint Center at IC3.gov.