Cold callers often pitch investment ‘opportunities’ – but sadly, many are scams. One couple was persuaded to invest thousands in fine wines – can they get their money back?
Mary told us: My husband was cold-called and talked into investing £1,900 in a case of wine that would supposedly increase in value. The caller told him his company would store the wine in a bonded warehouse until his investment had made him some money.
They sent him literature about bottles of wine that had sold for thousands, and followed up with several phone calls until he was convinced to invest.
The company then rang multiple times to try and make him reinvest, as his original purchase had supposedly made money. Eventually, he invested a further £1,000.
He received a contract to sign, but didn’t sign anything. Instead, he rang back to say he would like the full £2,900 returned. The caller said this would take 28 days, but we have had no contact with him since. Is there any way we can get the money back?
Our say on investing with cold callers
Never give money to cold-callers offering investment opportunities. Often, they’re fraudsters trying to convince you to invest in worthless, over-priced or even non-existent products. You should report this case to Action Fraud and the police.
If you paid by credit card, you may be able to claim a refund from your credit card company under Section 75 of the Consumer Credit Act.
Banks also have the power to reclaim bank transfers made in error, but this is dependent on those funds still being in that account.
Have you ever been contacted about a scam wine investment?