British man pleads not guilty in alleged $99 million wine fraud conspiracy
NEW YORK (AP) — A British man has pleaded not guilty in New York in connection with an alleged $99 million fraud involving high-priced wine and duped investors. U.S. Attorney Breon Peace’s office says Stephen Burton was extradited Friday to New York from Morocco, where he was arrested in 2022. Burton pleaded not guilty Saturday in Brooklyn federal court to wire fraud and money laundering charges. His lawyer says he will mount a vigorous defense. Prosecutors say Burton’s company told investors it brokered loans with wealthy wine collectors and investors would profit off the interest. Authorities say investors put up $99 million for the loans, but it was a scam.
