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Australian Wine Index

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boiler room wine investment scam

Complaint Rating:  82 % with 76 votes
82% 76
4.1
Contact information:
Australian Wine Index
Singapore
free-press-release.com
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.
Complaint comments Comments (390) Complaint country Singapore Complaint category Savings & Investments

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N  26th of Nov, 2013 by    0 Votes
Hi aggrieved investors, we have finally transferred over our own wines from CWT (under AWI) to Menlo which is now under our own control. That completes our stage one of our plan. We are now preparing our stage two, exit strategy. We have our resources and are consolidating and started communicating with potential and genuine buyers on our list of wines. One point to note, the more desperate an investor becomes, the importer cum broker will be riding on the opportunities to gain and make their bucks out from you. Will give further update soonest. Should anyone like to discuss more, appreciate your email to alpchip@yahoo.com.sg cheers
N  26th of Dec, 2013 by    0 Votes
If all these are true, they are now crossing the sea to attack Malaysia with the scheme. I have not invested on it but it is indeed appealing with their presentation. They run by the company name XBI. I haven't heard any complaints from my fellow Malaysians, maybe it is still new and they have not encounter the problems like you guys. Thanks for all these reviews because I am already having second thoughts.
N  6th of Jan, 2014 by    0 Votes
I signed the order form but haven't pay yet. I cancelled the order just now and they were not very happy. They said when I signed it means the wines are belong to me and it is already on the way. I asked if my order is cancelled but there was no answer from them. Will I get into trouble for that? I have not pay anything yet. Can anyone advice on this? Please email me at edwynlow@gmail.com
There was a misunderstanding and everything has been resolved between the user and the company. Things are not as they may seem to be. The user takes back what has been said.
N  18th of Feb, 2014 by    0 Votes
Plse contact me if you are keen to take legal action.
N  18th of Feb, 2014 by    0 Votes
Hi Shuloto, on 25 Nov you mentioned that you are going to their office. So, any luck to sell off your wines?


By the way, has anyone managed to sell off their wines so far? Can share, pls.
N  18th of Feb, 2014 by    0 Votes
I have strong evidence to sue AWI, make sure AWI bankrupt.
N  18th of Feb, 2014 by    0 Votes
Hi bros, wishing everyone a blessed and fresh year ahead with wisdom, peace, abundance of provisions and protection, good health. I have already transferred all my wines together with 2 other bros into Menlo in November last year. Pls kindly write to me for further discussions at alpchip@yahoo.com.sg Let's pull our resources together.
N  20th of Feb, 2014 by    0 Votes
OMG!! I called up Menlo and was told that Menlo no longer has any dealing with AWI. I asked what happen to my wines previously stored there thru AWI and was told to check with AWI instead. Does any bros out there has the same situation i am in? And what happen after that?


Can share with me, pls
N  22nd of Feb, 2014 by    0 Votes
Folks, watch out for AWI latest trick….Step 1 - call u to tell you that they are aware that the “previous” mgmt did not focus on helping investors liquidate their assets. They are a new mgmt and that all the previous associates had been purged…basically AWI try to empathize your situation and agree with you that the “previous” mgmt suck……Step 2 – when you are at their office, they will re-emphasize that they are focused on helping you liquidate your wines as they realized that if they do not help investors offload their wine, investors would not buy more…sounds good right? … Step 3 - they explain that they have nothing to do with the “previous” mgmt and that to offload your wines, there are cost of storage and marketing that would be incurred & guess what? Your wines had increased in value significantly. It’d be easy to sell your wines… Step 4 – whip out a contract…states that they have to sell your wines in 3 years or buy it back at market value! ...Step 5 – the cost of liquidating your wines are about 20% - 30% of your initial portfolio and you have to pay NOW (of course…how else to milk you right?) .……..so where’s the catch?...Question1 – why would any investor buy over a company with a poor reputation and filled with liabilities?...Question 2 – buy back your wines at the end of 3 years at “WHOSE” market value? Langton’s last traded price? It is not stated. It is an arbitrary value quoted by AWI……Question 3 – If at any point after you had handed your hard earned money, AWI recycle the company (another “new” mgmt take over or it closes..) what are your reprieve options? Check the paid up capital…..not even enough for you to hire a decent lawyer. Final words….do not be scam again by this deceitful company. It hurts to see so many losing their hard earned money to AWI….caveat emptor!
N  27th of Feb, 2014 by    0 Votes
Spoke to these guys a few days ago. There are a bunch of confidence tricksters out to squeeze you dry. Their scam is so obvious, its almost laughable. Take ownership of all your portfolio and find you own ways to liquidate or consume. I will advise you not to throw in good money after bad.
A  19th of Mar, 2014 by    0 Votes
Dear All, I visited AWI today and signed the order form just now... when I reached home and read all the comments posted in https://www.complaintsboard.com, I realized that I falling into a scam!! I haven't paid them the money yet, If I cancelled my order will I run into any trouble? Anyone have same experience, pls share with me urgently, thanks!
N  26th of Mar, 2014 by    0 Votes
@poor gguy, don't worry. They will not do anything. Have you even heard a crook using legal means to sue an upright person and the law help them to extort monies from the innocents? No money down, no contract is form. Don't worry. If not wrong, the authorities are checking on them. I am one of the victims too, now looking to exit. Chip Munk how is the going on your side? Sold off the wines already? Please update us.
N  4th of Apr, 2014 by    0 Votes
We have been called yesterday to attend a private meeting at Suntec. The story goes like : A major director bought into AWI and found that his investment was not what it turned out to be. He become the whistle blower and release the investor's detail to seek a class act against AWI. The lawyer will file this in Australian court on our behalf in the hope to recover back 60% of the investment. Meanwhile, to help us get out of this, they (ITRA) offer us to do a transfer of this Huschinson -Barley REIT realty group to buy into a fraction of the $58, 500 REIT. After 2 years, we will get out of it. We walked in to address a scam, only to walk facing another, wanting us to put similar amount of $$ !!
N  10th of Apr, 2014 by    0 Votes
Hi all, I am a victim of this scam too. If we do take the wines out from AWI, how and where do we go to sell the wines? Please advise.
N  13th of Apr, 2014 by    0 Votes
I fell into the same scam, 10yrs ago, and now, facing a new team, but scammed again.
Stupid me, now I cannot find their GM, not their Compliance Director, Ryan Soh.
Are they gone?
The user did not respond to the messages. The review should not be taken into consideration.
A  23rd of Apr, 2014 by    0 Votes
They are now in Malaysia operating under XBI (The Bottled Wealth). Their office is a few simple offices in Sentral. They are procuring contacts and filtering out potential clients who are earning >RM100k per annum. They will then cold call and then promise the potential client with ~RM400+ worth of vouchers (Jusco or Isetan, victim's choice) and a bottle of crap wine - just to hear them out. Well, managed to waltz in and out and collect the promised items within 2hrs. Free monies for me, which i guess came from the pains of you guys. Thank god I didnt invest any money on the spot, simply because Australian wine are crap (IMHO), and I have a strong distaste for them. But if their claims of approaching me is just so that I am aware of wine investment then I guess they are successful. I will be investing in French wine in the very near future with a reputable broker, or just doing my own trading (and arranging for storage on my own). Definitely not with them :D
N  24th of Apr, 2014 by    0 Votes
The story goes like : A major director bought into AWI and found that his investment was not what it turned out to be. He become the whistle blower and release the investor's detail to seek a class act against AWI. The lawyer will file this in Australian court on our behalf in the hope to recover back 60% of the investment.Is the above fake also?
N  24th of Apr, 2014 by    0 Votes
I would like to discus more, will contact Alchip or Angry Investor please contact me
The user did not respond to the messages. The review should not be taken into consideration.
A  25th of Apr, 2014 by    0 Votes
Hi all, I am also a victim of this scam too. If we do take the wines out from AWI, how and where do we go to sell the wines? Please advise.
A  25th of Apr, 2014 by    0 Votes
I got a call from AWI (Mark Herd) yesterday, he mentioned that he wants to discuss about my portfolio.
First he asked me where am I now, and told me that their managmnet has been changed. I asked about the status of my inversment, but he insist to talk face to face in Singapore (isn't it strange, why can't we talk on the phone? ). I keep asking about the status, but he didn't answer my question and told me that he will call me back in 2 days. Of cause he didn't call and I think he won't call me back.

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