NEW YORK (AP) — A federal jury in New York City has sided with a Florida billionaire, finding that a California businessman defrauded him by selling bottles of phony vintage wine.
The jury in Manhattan federal court returned its verdict late Thursday. It then was sent back to determine how much businessman Eric Greenberg owes William Koch (KOHK), a yachtsman who won the America's Cup in 1992.
Outside the courtroom, Koch was smiling. He said he hoped the verdict sent a message to those in the wine auction market who follow a code of silence about fake wines.
He had sued Greenberg to seek the return of $320,000 he spent on 24 wines at a 2005 auction. Greenberg insisted on the witness stand that he never intentionally sold a bad bottle of wine.