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Australian Wine Indexboiler room wine investment scam

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It is not difficult to question the integrity of the company simply by googling "Australian Wine Index Scam" amidst a growing list of high profile fraud cases happening in Singapore such as Assets Wine Management(AWM), Universal Asset Group (UAG), which has left thousands of investors stranded. Australian Wine Index executed a very clever investment scam usually comprising of three stages. Stage one involves targetting the greed. This is done through enticing unwitting buyer into committing large sum of money into buying wines, promising exaggerated yield and guaranteed returns in 3 years time. Unknown to buyers, these wine were sold at way above market price. The company will then prey on the investor's impatience to wait 3 years for maturity by scamming them the second time. This involves tricking the buyer into buying more wines usually with claims that these wines takes less than a year to sell as compared to the earlier ones. The tactic has successfully created thousands of small investors holding on to tiny portfolios of 1 or 2 wines with no way of exit which is naturally so, given that the wines were bought way above market. Final phase of the "Triple Whammy" involves fear. The fear of losing an opportunity to exit. The shanghai auction completes the hat-trick in scamming investors a third time into parting with their money for fear of not be given a chance to enter for the auction.

Responses

  • Ki
    Kit HK Sep 13, 2020
    This comment was posted by
    a verified customer
    Verified customer

    Hi, I also bought wine from AWI back in 2014. The last I heard was my wine was at CWT, I was given a password and ID from AWI. My friend also invested in AWI, had a reply from CWT in Sept 2020, that they cannot track the wine with AWI ID. So has anybody been able to track the whereabouts on their investment? I will drop CWT a line to see if AWI still has an account with them.

    0 Votes
  • Di
    Disgruntled investor1 Nov 25, 2020
    This comment was posted by
    a verified customer
    Verified customer

    @Kit HK Hi Kit, I bought around 2014 too and have no idea what happened to my wine now. They have all changed their numbers. Any idea how to proceed with this?

    1 Votes
  • Va
    Vanessa Roberts Aug 21, 2020
    This comment was posted by
    a verified customer
    Verified customer

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    0 Votes
  • Ph
    phobie ward Jan 13, 2020
    This comment was posted by
    a verified customer
    Verified customer

    During my early days of binary option i fell into a lot of online scams, trying to trade bitcoin and invest in binary options. Which nearly wrecked me out, making me loose up to 279k very confused on what to do until my boss introduced me to an online recovery agent recoverywealthnow360 at gmail dot com. A recovery expert who helped me recover all my money back from those scammers

    0 Votes
  • Ev
    Eviewilliams009 Jul 22, 2019
    This comment was posted by
    a verified customer
    Verified customer

    These brokers really had me for almost all of my life savings, it started with small investments and really strong assurances, although they let me withdraw once a very minute amount but really and truly I had been elaborately taken for almost everything. After trying severally to get my money back, through a different department from my brokers company I was feeling distraught. Then I came across Binaryoptionassetrecovery (DOT) (COM) on a forum different people left positive reviews and then I contacted the admin on the site, honestly I had to really take my time in making sure I wasn’t about to loose any more money and time, luckily for me in a couple of days they had recovered 90% of my investments including profits. Usually wouldn’t do this but if you’ve ever lost money to any of these fake investment scams, including cryptocurrency try Binaryoptionassetrecovery (DOT) (COM) there service is perfect.

    0 Votes
  • Am
    Ampsi Apr 23, 2019

    Any of you approached by Zeus Trading?

    0 Votes
  • Jf
    JFTeng Oct 10, 2019

    @Ampsi Did you pay them? I think it is another scam to try get your money.

    0 Votes
  • Ka
    Karthikkkk Apr 01, 2019
    This comment was posted by
    a verified customer
    Verified customer

    Recently came across this. Does anyone know what this means. Is there any case against AUSTRALIAN WINE INDEX in court?
    https://stg.statecourts.gov.sg/cws/CivilCase/Documents/Civil%20Hearing%20Lists/civil_os_ejd.pdf

    Comments

    0 Votes
  • Ch
    chiask Nov 11, 2018
    This comment was posted by
    a verified customer
    Verified customer

    Lost 100k since invested on 2010 till now, is th his company still active

    0 Votes
  • Ch
    chiask Nov 01, 2018
    This comment was posted by
    a verified customer
    Verified customer

    hi
    can we have the contact for the Binaryoptionrecoveryspecialist, so that we can liaise with?
    thank u

    0 Votes
  • Ch
    chiask Nov 01, 2018
    This comment was posted by
    a verified customer
    Verified customer

    i had been invest since 2011 for amount up to 100k, is it truth Binaryoptionrecoveryspecialist.com work?

    0 Votes
  • Ka
    Kate O Hara Jul 19, 2018
    This comment was posted by
    a verified customer
    Verified customer

    I lost an incredible amount of Funds to the fake Binary option Brokers, It all started from a phone call and after some persuasion I decided to invest, after months of constant investment I decided to ask for a payout this was the beginning of my turmoil, to my dismay I was still asked to invest more. Being a Single Mother of 3 kids this really affected me and despite all efforts to contact them failed. Luckily enough for me I was introduced to Binaryoptionrecoveryspecialist.com within a week, to my surprise all my funds were returned to me thank you so much.

    0 Votes
  • Al
    ALMY18 Jun 07, 2018
    This comment was posted by
    a verified customer
    Verified customer

    Does anyone knows if the wine are still kept for us to claim back?

    0 Votes
  • Ji
    Jim1088 Jun 04, 2018
    This comment was posted by
    a verified customer
    Verified customer

    They stole all my money

    1 Votes
  • Je
    Jennifer Tan Nov 19, 2017
    This comment was posted by
    a verified customer
    Verified customer

    Articles on the Wine SCAM by Australian Wines Index:

    http://www.businesstimes.com.sg/companies-markets/man-behind-recent-investment-woes

    http://www.straitstimes.com/singapore/wine-investors-cry-foul-over-dealings-with-2-companies

    http://itraonline.com/index.php/category/australian-wine-index/

    Australian Wine Index — boiler room wine investment scam

    0 Votes
  • Aw
    AWI Assistance Jul 28, 2018

    @Jennifer Tan Jennifer,
    Give me a call if you want to know more.

    If you have NOT moved your wines from AWI a CWT - Singapore Wine Vault account then your wines are gone.

    I have helped many since 2015 with referrals to support.

    Michael
    WhatsApp please
    +[protected]

    0 Votes
  • Hk
    HKDrew Sep 17, 2017
    This comment was posted by
    a verified customer
    Verified customer

    Dear All, My emails to AWI have gone unanwsered for a log time. Is there any more news or other groups where we can all put pressure on this. I'm based in Hong Kong, where AWI used to have an office - so even more hard for me to keep up with this headache of trying to get investment or wine back. Thanks all.

    0 Votes
  • Ki
    Kit HK Sep 13, 2020
    This comment was posted by
    a verified customer
    Verified customer

    @dbaywatch I think you are right, especially if the investors are based in HK, and dealing with Singapore.

    0 Votes
  • Db
    dbaywatch Nov 16, 2017

    @HKDrew just count that the investment is gone. there is no way we can get anything back

    0 Votes
  • Ai
    Aik Teng Quek Aug 15, 2017
    This comment was posted by
    a verified customer
    Verified customer

    Hi all
    I am also a victim of the AWI scam. I am in contact with other victims in the same boat. Started investing with Alvin, then Mata and Ryan Soh. I am actually very interested to find out the status of my wine. Is it still in CWT or gone as suggested by some of you. Anyway for me to visit CWT to confirm?
    If there is a group action planned, please include me. Do contact me at mobile if any of you can help.
    Zack mobile [protected]

    0 Votes
  • Di
    Disgruntled investor1 Feb 04, 2019
    This comment was posted by
    a verified customer
    Verified customer

    @Aik Teng Quek Hi Zack, do you have any updates from anyone? Am desperate to get my money back

    1 Votes
  • Db
    dbaywatch Jan 05, 2017

    I don't...

    0 Votes
  • Vi
    Viknesh Sandra Dec 02, 2016
    This comment was posted by
    a verified customer
    Verified customer

    Scam after scam, Now does anyone knows if our wines exists?

    0 Votes
  • Db
    dbaywatch Nov 23, 2016

    hello, any feedback, I need some guidance on this crap

    0 Votes
  • St
    still_stupid Oct 04, 2016
    This comment was posted by
    a verified customer
    Verified customer

    To my best understanding, CWT storage is going to give out a letter with regarding to wine stored in their warehouse. I have not seen any actual document. Have any of you received such letter?

    0 Votes
  • Db
    dbaywatch Sep 27, 2016

    so what now. can anyone advise

    0 Votes
  • Db
    dbaywatch Sep 13, 2016

    so you have not seen the wine too

    0 Votes
  • We
    Weng Keh Cheong Sep 07, 2016
    This comment was posted by
    a verified customer
    Verified customer

    dbaywatch - got a Ramsley who sent in mail then everything turned eerily quite after I have replied. Worried about the wines stashed with CWT.

    0 Votes
  • Db
    dbaywatch Aug 25, 2016

    hi gareth, is there any update for AWI ?

    0 Votes
  • Ga
    Gareth Cheong Aug 22, 2016
    This comment was posted by
    a verified customer
    Verified customer

    Alvin. I have a case whether AWI took money from me for a purchase of 18 bottles of Grange which never turned up. Please call me to discuss because none of your staff are responding. C3031.

    0 Votes
  • St
    still_stupid Aug 01, 2016
    This comment was posted by
    a verified customer
    Verified customer

    @ Alvin Lim: I'm NOT Ian Wilde. It's surprisingly new that you said you've sacked Ian...whatever for?
    If you're sincere about helping or doing anything meaningful here for any of us. Trouble yourself do a few of these things:
    1. Draw a line between you and TBW / Mata Giullianno: means prove to us that you're actual owner of AWI now. The last time I checked AWI is still registered at Nankin Row.
    2. If you can do number 1, then tell us what assets of wines / rums that you and AWI have under control now, be it: wines at Menlo, wines at CWT or rum at wherever it is...You WERE THERE when AWI was sold and you WERE THERE with TBW people in the scheme of wine and rum switch so do not SCREAM that you had no part in it.
    3. Whatever you do or say, DO NOT even mention of any of your fancy new investments. Let's only talk about wines and rums which most of the people here lost money for.

    1 Votes
  • Aw
    AWI Alvin Lim Jul 28, 2016

    Dear Unhappy -customer,

    we will get you meaning you want to harm me . i will get my it guy to get your IP address and file a report against you to protect myself and my family.
    are you trying to hint that you will get somene to harm me . ( RYAN SOH ) soon tien meng.

    regards
    Alvin lim lye soon .

    0 Votes
  • Aw
    AWI Alvin Lim Jul 28, 2016

    Dear Still stupid,

    Are you ian wilde that i have sacked? if not i need your client number .

    0 Votes
  • Aw
    AWI Alvin Lim Jul 28, 2016

    Dear Fellow AWI client's you do not have to take my words for it . but no one force you to invest in TBW . Yes ITRA is a Scam don't forget AWI is a PTE LTD . and also STILL STUPID can i have your client number so that i can call and meet up with you. please do not call yourself still stupid,

    maybe i should call myself that as it gives me ### everyday if i didn't take over i don't know what will happen to your wines so can i have your client number.

    Alvin LIm

    0 Votes
  • Vi
    Victimised again Jul 28, 2016

    Also went Ngee Ann City, talked 3 hours to try to get me to exchange wine for realty assets. In the end nothing about ITRA class lawsuit action by English lawyer, now they are pretending to be lawyers to help us out, they say about 2000 people have signed up, it's another scam.

    0 Votes
  • Db
    dbaywatch Jul 26, 2016

    don't go this is a scam too.

    0 Votes
  • He
    Hectorquek Jul 23, 2016
    This comment was posted by
    a verified customer
    Verified customer

    Hi all, I'm in the same boat as you are. Yesterday I received a local call and follow by another call from England and a lady specking to me that her company is going to gather all the people that have been investing on this ### to sue against AWI. She wanted me and my wife to go to NEE ANN CITY to meet the someone who will help to take back the money...I didn't confirm as I'm not sure is this is another ### plan.

    Anyone has the same experience? Please advise.

    0 Votes
  • Dc
    dcagency Feb 27, 2018
    This comment was posted by
    a verified customer
    Verified customer

    @Hectorquek Hi Hectorquek, I'm also a victim of AWI and recently I also received call from England and now a local line that ask to go down & do claim against AWI.. saying they have gotten 600+ signature and need to get 700 to proceed. Any experience from since the last post?

    Thanks... Derek Chong

    0 Votes
  • St
    still_stupid Jul 05, 2016
    This comment was posted by
    a verified customer
    Verified customer

    Fellow victims (I'm one too),
    I'm afraid this is about the end of TBW that includes our investments. As you're all aware that Guillianno Mata has disappeared, TBW has zero physical existence in Singapore (correct me if I'm wrong) except for some vague information regarding storage of wines (possible at CWT) and rums (somewhere, I'm unable to confirm this yet).
    From what I gather from someone claimed to be the new CEO of TBW (and is not actually based in Singapore), he has also been double-crossed by Mata. "The evil Mata" (his words) has cheated him to take over TBW while transferring or selling out most of the wine/rum storage without his knowledge. The new CEO hence is trying to reverse his name from being on the company. It means he's trying to get out of this. IF this actually happens, TBW will become a dead-end as there is no other contact or communication to be made. I can't verify any of this information, but I can see that TBW has become a messy black hole for all of us. Please share if you have any other information that is different or contradictory to mine as I have run out of contacts to ask for information.
    For some of you, who are in contact with Alvin and his so-called AWI, be careful of what you may get into. If Alvin is honest about his 40K payment and other extras to Mata to buy back AWI, it seems like he has also been crossed by Mata. However, I'd rather not take any of his words seriously as I don't believe that Alvin is less evil than Mata. If anything, Alvin has been there all these years and NOTHING has ended well. I highly doubt Alvin's ownership of AWI as this only came from him; and all AWI has right now is a tiny nameplate at the new Katong office, a few big file cabinets contain (I believe) most, if not all of client files in PAPER (i was shown mine which missed all of the important contracts), and AWI email domain. Whatever he is offering now is to switch your wine/rum investment to a new fancy investment but that must come with your topping-up money. And if you press him about the physical storage of the wine/rum, he would tell you that he had no idea and push all the blame to Mata. How will Alvin use something that he has no idea as collateral for new investment is beyond my comprehension? But I can jolly well see that he is staring at your topping up money. This will go the same for the money that you need to pay him to see your wine/rum that will never happen.
    I have been given advice to get court order and apply to the storage company. They may be willing to release the wine/rum to you but bear in mind the possible due storage cost and tax that you may have to pay. Honestly I'm not sure how to get a court order, and above all to get a court order against whom? Shall it be against AWI as its name stands on the contract and TBW has become a vacuum?

    Would any of you be kind and knowledgeable to advise? I guess not. This is maybe why so many of us are here today.

    0 Votes
  • Db
    dbaywatch Jul 03, 2016

    whose Bernard???

    0 Votes
  • St
    stressed_brain Jul 02, 2016

    Anyone has the benard email from cwt ?

    0 Votes
  • Bi
    Bitten too many times,... Jun 30, 2016
    This comment was posted by
    a verified customer
    Verified customer

    Learning that Mata may well have exported a very large volume of wine stolen from all of us directly from CWT, and hence was not exposed to the duty cost. Hard however to ascertain whether this happened and is actually correct.

    0 Votes
  • Db
    dbaywatch Jun 27, 2016

    oh no jill, this is unfortunate, so you have not seen your rum??

    0 Votes
  • Ji
    Jill Lim Jun 27, 2016
    This comment was posted by
    a verified customer
    Verified customer

    Dear All
    I tried to contact the guy whom I bought Rum from at TBW and he gave me an AWI email to follow up. I emailed to the lady at the AWI and she said the 2 businesses are not related. And that owner at TBW has run away... :(

    0 Votes
  • Db
    dbaywatch Jun 27, 2016

    I am not sure about this saga though, have any of you contacted CWT to view the wines?

    0 Votes
  • Om
    OMO1 Jun 22, 2016
    This comment was posted by
    a verified customer
    Verified customer

    Wines lost in CTW storage should be CTW responsibility to inform AWI and the wines owner. Most importantly, these wines are duty UNPAID to Singapore Customs. Isn't it reasonable for both CWT and AWI allow their clients to validate the quantity discrepancy if any so that appropriate actions could be taken earlier with Singapore Customs? Otherwise we could ended up with escaping paying duty issue to Singapore Customs. Clearly, we don't want this happens.
    Maybe AWI can advise us with good reason why we can't see our wines by risking us against duty unpaid offense?

    0 Votes
  • Db
    dbaywatch Jun 21, 2016

    totally agree with your statement, this will be another round of discussion on and on and on. You mean you have not seen your wine after they transfer to CWT? so where is this TBW now? So this Alvin is in charge now?
    weird ### happens. so this is never ending,

    0 Votes

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