Casey Alexander, a British national, has pled guilty to wire fraud for orchestrating a wine and whiskey investment scam that primarily targeted elderly Americans. Alexander used cold calling techniques to deceive his victims, promising substantial returns on investments in fine wines and whiskeys.
The scheme came to light in 2020 when the son of an 89-year-old victim alerted the Highland Heights Police Department in Ohio. The elderly man had been defrauded of $300,000 over an 18-month period. The subsequent FBI investigation revealed that Alexander had scammed more than 150 individuals, collectively defrauding them of over $13 million.
Reports suggest that Alexander often used his British accent to charm his victims. He even met at least one potential investor in person, persuading them to invest in a whiskey cask. Fortunately, a $100,000 check was canceled just in time after the FBI intervened.
Alexander was arrested by the FBI in June 2022 and released shortly thereafter on a $50,000 bond. This week, the US Attorney’s Office for the Northern District of Ohio released a statement detailing Alexander's deceptive tactics. According to the statement, Alexander and his accomplices used aggressive and deceptive methods, promising large returns if victims invested in wine and whiskey. They claimed they would purchase a portfolio of fine wines and whiskeys on behalf of the victims and hold them in a bonded warehouse in Europe until they could be sold for a profit.
The statement further explained that after the initial investments, victims were encouraged and eventually convinced to continue investing to secure larger returns. Alexander and his team convinced victims across the country to wire funds or make checks out to various suspect companies as part of the scam.
US District Judge Solomon Oliver sentenced Alexander to three years of probation. He was also ordered to pay $202,195.58 in restitution to his victims for his role in the fraudulent scheme.
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