Wednesday, 13 June 2012
1855: shares sink back to 0.04€
Château Pontet-Canet: 2006 ordered in 2007 and still not delivered although 1855 claimed it would be available in spring 2009
In early June shares in 1855 (France's leading wine internet Ponzi scheme) fell to 0.04€ their lowest value this year. After a brief rally back up to 0.06€ they have now fallen back to 0.04€. Only a year ago 1855 shares were trading at 0.17€ and in 2011 they reached a high of 0.21€, while the low was as this year – 0.04€. To date the high for 2012 is 0.10€. Most of the trading for this year has been between 0.05€ and 0.06€. Five years ago shares in 1855 traded as high as 3.84€, so now ought to be considered as 'junk bonds'.
Does the current level of 0.04€ indicate that shareholders are becoming increasing concerned over the blizzard of court cases that 1855 now faces raising doubts whether the company can pay the compensations awarded to their customers by the courts. Is there also a fear that the arrival of François Hollande as the new French president that the high level protection 1855 appears to have previously enjoyed may now disappear or lessen. After all if the DGCCRF can move against an alleged fraud committed by Burgundy négociant Labourié-Roi, why can't they move against Emeric Sauty de Chalon, Fabien Hyon and close down 1855?
Two screenshots (taken this evening) from 1855.com site showing that 2006s from Châteaux Lynch Bages and Pontet Canet are currently available on the site for delivery within 10 days. Yet customer YU ordered two bottles of each back in July 2007 for delivery in the spring 2007 and is still waiting for his wines to be delivered!!
How long will Jean-Pierre Meyers be prepared to be associated with this 1855 scam?