[fleek]

We have invested in AWI wines since 2005 and the tenure is for 3 years. However, after 3 years they keep postponing our ability to sell the wine saying that the value will increase further and asked us to invest more and wait out another year.

A year ago, we approached them again and we are unable to sell our wine again. The so called 'Director' of the company said that they will try to sell our wine for us and by March 2010, if we still cannot sell, they will buy our wine at market rate (with a discount off course).

Come and go, now it is already Nov 2010 and all our efforts in contacting the 'Director' were useless and countless requests for them to call back has been futile.

Now we are considering making a police report, not for a failed investment, but more of a ponzi scheme.

Any brothers have the same problem? I believe only if enough people make police report then CAD will conduct investigation.

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[moneygod]

Damn... I am shocked to hear this but I have no experience in this. Good luck guys. Get them a-holes asap!

[swampthing]

Apparently there's a FB group that's formed to try to get money back from AWI..

why won't Australian Wine Index (Singapore) try to sell my wines? | Facebook

Good luck.

[SILVER_STAR]

no body else?

[mokky_123]

Looks like a issue of ponzi... Delaying payouts, asking for injection of funds in promise of better "returns" in future, dragging of time, and eventually, uncontactable.

Althought i've never heard of AWI, i'm just assuming its some fund thingie that you pool to buy wine investments? (you don't see/own the wine physically)

Can prepare to say good bye to $$$ even if police manage to catch the culprit... Tangible investments are still bagus~

[DragonFire]

Can you take physical delivery of the wine? Take it off them and try to sell it yourself.

Worst case scenario just drink it.

IIRC the minimum investment was $10K back then when I attended their talks at F&B asia,

Hope you get something back.

DF

[Kakkoiiman]

Australian Wine Index Scam

[Kakkoiiman]

I am forming a group of investors who believe they are scammed by AWI. The number of responses I have received is growing but the rate is not fast enough, I need more of you to join us. Regardless of whether the intention is to take action against AWI or to make plans for alternative exit strategies, none of these can work without strength in numbers. Join us to form a critical mass by going to this website Australian Wine Index Scam

[lonewolf]

I received a call recently from the company. And I have to say that I'm glad to learn of the associated problems here before putting my money in. I guess that general mantra about 'if its too good to be true' probably hold true. Thanks all for the head up!

[PastEmployee]

What a great Scamming ponzi idea this is !! And it has fooled 3000 people over 5 years. Not 1 client has ever seen an investment return other than a buy back from the company, this is where the ponzi takes place.

BEWARE !! VERY SMART AND UNTOUCHABLE OPERATION HERE......... KEEP YOUR MONEY SAFE AND DO NOT INVEST WITH THE COMPANY

[cccp]

they were at INVESTFAIR recently....damn MAS shd look into all these companies setting up shop and marketing in SG

[DragonFire]

Maybe someone wants to email SPH a linky?

DF

[DragonFire]

FYI

Hello,

Thank you very much for your feedback! I've taken a look at the link, and I'm very interested in what the forum posters have to say about AWI.

I was wondering if you could help me let them know that they can contact me at any time to discuss the issue further, especially if they have first-hand experience or evidence to back up their claims.

I can be reached at 6319 five oh six 5 during the day, or via email (melissa<removeme>t@sph.com.sg) anytime.

Again, really appreciate that you took the time to email me about this. Thanks a lot!

Look forward to speaking with you and any of your forum members.

Best regards,
Melissa Tan
Journalist, Straits Times Moneydesk
DID: 6319 five oh six 5

DF

[XiaoDongDong]

Originally Posted by DragonFire

FYI



DF

erm... u post like this... later I call her for a date lei~

[desleyland]

Hi there,

I invested with AWI in Jul 2011, till now I'm not informed that I have received my wines. Recent calls to them were not answered. I wish to report them...