Why go to the trouble of making and selling fake fine wine when you can convince other people to let you sell their real fine wine and pocket the cash? The founder and former president of an online auction house stands accused of just that. California prosecutors have indicted WineGavel founder Joshua Krummenoehl, charging him with 12 counts of grand theft by embezzlement, amounting to more than $500,000.
Krummenoehl was arrested July 8 in New York and extradited to Napa, where he was booked before posting $50,000 bail July 17. Krummenoehl could not be reached for comment.
It seems like someone ought to be chasing that buyer. I don’t what one would legally call it - fraudulent conveyance / reception of stolen property but something there ought to be dug into.
Online wine auction house owner jailed for embezzlement. Big deal, a whole 18 months. He’s declared bankruptcy and taken an easy plea deal.
"But California Deputy Attorney General Johnette Jauron argued Krummenoehl should serve three years and four months, the maximum term under the plea agreement. Krummenoehl, the prosecutor told the court, had shown no remorse and has made no efforts to pay the money owed.
Pharr countered that the restitution order had not been issued yet. His client has been earning only $16 an hour and had no money to pay restitution, he said. “He’s going to pay for this for the rest of his life,” Pharr said of the money owed."
I’m sure glad we never got involved with them. In 2009 or early 2010, Krummenoehl and a female dropped by the store to tell us about their endeavor and told us to call anytime we needed to move wine or wanted to dump wine. The idea sounded good. He just spent the money to live the good life before the business really earned enough. Sounds very similar to another thread that’s getting a lot of attention.