1855 (aka Heracles) under French fraud investigation

Le Parisien devotes a full page today 

to these 'crooks' – Chalon and Hyon

Le Parisien is reporting that 1855.com and fraudsters Emeric Sauty de Chalon and Fabien Hyon may finally be facing French justice with the Paris Public Prosecution looking into how Chalon and Hyon ran companies that owed 40M€, had 11,000 disappointed clients and failed to deliver a large percentage of the wines its clients ordered.  

Philippe Blanchetier, lawyer for 1855's management, 'the accusations of fraud are entirely wrong, that they were victims of the Bordeaux establishment who disapproved of 1855's approach and set out to undermine the company. Chalon and Hyon are now penniless.'

Is the English translation of 'Blanchetier' perhaps whitewash?    

Decidedly good news, although very belated, if Le Parisien is correct.

The bouncing cheques of Cave Privée (Groupe 1855)

1855 declared an 'arnaque' (fraud) by France2 

The 1855 group appears to be getting itself further into the mire. Cheques sent by Cave Privée to reimburse customers for undelivered wine are now bouncing as this post by Olivier on La Passion du Vin explains. The cheque was for 400 euros. Hardly a huge sum for the group, which has apparently had an injection of 7.5 m euros in additional capital recently.   

Olivier:

'Alors là, chapeau bas! 

Je pensais avoir tout vu mais non... CP est capable d'encore plus ! 

Après avoir attendu des mois et des mois mes vins, j'ai enfin réussi à être remboursé en me déplaçant pour venir chercher un chèque...où il manquait 4 euros !
 

Très gentiment, on me les a donné en liquide...
 

Et 2 semaines plus tard, lettre de ma banque me retournant le chèque qui s'avère être sans provision !!! C'est grandiose ! Mais de qui se foutent-ils ?'

The consequences of bouncing cheques in France can be quite severe and expensive as this link explains.

If cheques for small sums like 400€ bounce you have to wonder whether the 1855 group is trading while insolvent. 

Following thin trading yesterday shares in 1855 closed down one cent at 0.03€ a share.