Koch purchased the wine in 2004 and 2005 as an investment through Zachy Wine Auctions but he now claims they are fakes and is suing seller Greenberg, who counters they are the real deal.
Eric Greenberg (from left), owner of the Imperial Cellar, John Kapon president of Acker Merrall, and Condit and Paul Pontallier, Managing Director of Chateau Margaux stand behind three bottles of Chateaux Margaux from 1908, 1918 and 1978 with a starting auction value of $50,000. Greenberg is being sued by billionaire William Koch for $300,000 over a set of allegedly fake wines Koch purchased in 2004 and 2005.
They both have enough money to buy a slew of fine wineries, but two billionaires are about to duke it out in court over bogus Bordeaux that tastes like vinegar.
Florida energy magnate William Koch is uncorking a federal lawsuit charging that California businessman Eric Greenberg sold him $300,000 worth of vintage wine that turned out to be as rare as Asti Spumante.
Koch wants Greenberg to pay for taking him for a château rube.
A famed America’s Cup yachtsman, Koch purchased the wine as an investment in 2004 and 2005 through Zachys Wine Auctions for what amounts to chump change for a Master of the Universe worth an estimated $4 billion.
Greenberg, a billionaire himself, counters that Koch’s complaints are sour grapes. He says he did not knowingly auction off fake wine and that under Zachys terms, Koch bought the vinos “as is.”
Their wine war will play out over the next two weeks or so before Judge Paul Oetken in Manhattan Federal Court. Jury selection begins Tuesday.
Florida energy magnate William Koch is uncorking a federal lawsuit charging that California businessman Eric Greenberg sold him $300,000 worth of vintage wine that turned out to be as rare as Asti Spumante.
Koch wants Greenberg to pay for taking him for a château rube.
A famed America’s Cup yachtsman, Koch purchased the wine as an investment in 2004 and 2005 through Zachys Wine Auctions for what amounts to chump change for a Master of the Universe worth an estimated $4 billion.
Greenberg, a billionaire himself, counters that Koch’s complaints are sour grapes. He says he did not knowingly auction off fake wine and that under Zachys terms, Koch bought the vinos “as is.”
Their wine war will play out over the next two weeks or so before Judge Paul Oetken in Manhattan Federal Court. Jury selection begins Tuesday.
Read more: http://www.nydailynews.com/new-york/billionaires-duke-overf-300g-sour-grapes-article-1.1299093#ixzz2OdXAYUxz
