Wine Investment Scam Lands Fraudster in Jail for Over Four Years
Emmanuel Okunoren has been slapped with a four-and-a-half-year prison sentence at Exeter Crown Court for a slick £400,000 fraud scam.
False Promises of Wine Recovery
Okunoren conned his victim by pretending to work for a fake firm called TMT Investments. The victim, already stung by a failed wine investment scheme, was desperate to get back lost cases of pricey wine. Okunoren exploited this, claiming TMT could retrieve the wine—if only hefty “administration fees” were paid.
Nearly £400k Gone in Months
- Between May and October 2020, the victim wired a massive £399,334 to various bank accounts controlled by Okunoren.
- The money quickly vanished, funnelled into cash withdrawals and other transfers.
- Not a single bottle of wine was ever recovered.
Lavish Lifestyle Raised Suspicion
Despite no record of legitimate income, Okunoren lived large. Police found luxury items including Rolex watches, stacks of cash, and evidence of splurges at Harrods and a lavish Dubai holiday.
Julie Snell, CPS prosecutor, said: “Okunoren cynically exploited the victim’s vulnerability, using an elaborate sham to squeeze out as much money as possible.”
The CPS pledges tough action against investment fraud, especially to protect vulnerable victims from heartless scammers like Okunoren.
