Daniel Snelling: Fraudulent entrepreneur not discouraged by adversity

Serial fraudster Daniel Snelling

(from decanter.com)

Despite being arrested by the Metropolitan Police in March 2010 in connection with Nouveau World Wines Ltd and Finbow Wines Ltd then subsequently being charged with conspiracy to defraud and money laundering, Daniel Snelling was determined to continue his entrepreneurial career. Evidently fleecing investors of £4.5 million through Nouveau and Finbow wasn't sufficient, Snelling was keen to find other vehicles to thin the wallets of his clients. The vehicles have included eco-investments (Green Leaf Global), Biofuel (Infinity Source), Bulgarian real estate (Sandy Pines with Matthew Hart) and may well also include diamonds. 

Read the rest here. 

Nouveau World Wines/Finbow Wines fraud trial: Daniel Snelling guilty

Yesterday at the end of a two month trial at Southwark Crown Court, London SE1 the jury found Daniel Snelling guilty on all four counts of conspiracy to defraud and money laundering. His sister, Dina Snelling, guilty on two counts and his cousin, Rebecca McDonald, guilty on one count. Simon Dempsey was found not guilty.  

More details on investdrinks here.

Nouveau World Wines/Finbow Wines: closing speeches

By the middle of last week the trial had moved into the closing speeches with just the judge's summing up and directions to the jury before the jury retires to consider its verdict. 

Prosecution: Julian Christopher QC

Starting his closing speech Julian Christopher invited the jury to take a step back and consider the overview. Was Nouveau World Wines a fraud or was it a question of theft by Sultan Trad and then Reset along with incompetence from Winevaults? Reset was based in Spain with its registered office in Cyprus, an island it couldn't spell correctly on its correspondence. Was it likely that Nouveau World Wines would have the misfortunate to be shafted by its suppliers twice in succession?

In his police interview in March 2010 Daniel Snelling spoke of a 15%-25% mark up on the wines. Now in his evidence to the court he claimed it was much higher – up to 50%. What he told the police in 2010 is more likely to be accurate. The higher mark up now cited by Snelling is an attempt to hide the huge discrepancy between the wine actually bought and the amount that was sold to the investors. 

Read the rest here. 

Nouveau World Wine/Finbow Wines trial: Rebecca McDonald@the stand

24th June 2013

Rebecca (Becky) McDonald gave evidence to her defence counsel: Steve Bailey. She had started on Friday - I was not present in court for this. 

Much of her evidence was taken up with going through invoices and payments made by Finbow Wines with Rebecca McDonald giving details of the various payments. I assume that a similar exercise had been conducted by her counsel with payments made during McDonald’s time with Nouveau World Wines. She started there in September 2008.  

McDonald explained that she was involved with accounts covering sales and clients but not after-sales. She had no way of knowing how much wine had been bought, not involved in buying wine and she had no influence over company decisions.

Among the invoices was one to Eurodirect in July 2009 for the purchase of 6000 leads to be used for the start up of Finbow Wines Ltd. 

Read the rest on investdrinks here. 

Nouveau World Wines/Finbow Wine Ltd: latest report on fraud trial

Label for 1999 Roeddfeldt Road, Shiraz, Barossa Valley

Thos case concerns the 2002 vintage
Label from wine-searcher.com

Dina Snelling: cross-examination on 19th June and 20th June with Jane Osborne prosecuting. 

Dina Snelling was asked when Nouveau World Wines Ltd started. Dina didn't recall when the company started. She explained that for much of 2006 she had been in hospital as she had a very difficult pregnancy. Nouveau World Wines started receiving money in the summer of 2007. Dina was not aware of the size of the company at that time or from where it was operating. 

When Dina joined Nouveau in March 2008 there were 10 people working there – three or four openers and two closers plus Daniel Snelling. Asked about Simon Jenkins, the finance director, Dina replied that he had left by the time she arrived. Dan Jackson was the business development manager. There was no finance director to replace Jenkins.

After a couple of months working as an opener, Dina moved to the back office to work with a Lucy Jones. When Lucy Jones left Dina took over managing the office and used Lucy Jones' name. Asked whether she got Lucy's permission to use her name, Dina said no she didn't think to ask. 

Read the rest here.

Nouveau World Wines/ Finbow Wines: 19th June – Dina Snelling in witness box

Dina Snelling took the witness stand and was questioned by her counsel – Nick Corsellis.

She told the jury that she was born on 4th December 1977. She is of previous good character, no previous convictions and this is the first time she has given evidence in a court. She left school with no formal qualifications and started work as a nanny/child minder looking after babes up to children aged 13. After doing this for some five years she became an air stewardess working for British Caledonian before moving into secretarial work where she stayed for around five years. She has no qualifications in business management.In January 2007 her daughter, Milly, was born. The father provided no support. From late 2007 to early 2008 she worked as a painter, decorator and cleaner. 

Dina was asked how the Snelling family viewed Daniel's new business, Nouveau World Wines. "Daniel had been in the wine trade for three or four years. He had extensive knowledge about wines - he was for ever going on about wine." Dina agreed that he was an expert. "The family were proud that Daniel's new business was thriving and he was doing so well."

Read the rest on investdrinks.

Nouveau World Wines/Finbow Wines fraud trial: updates

Now that I'm back in London from the Loire I am able to provide some updates on my investdrinks blog of the Nouveau/Finbow fraud and money laundering trial:   

Defendants:

Simon Robert Dempsey

Rebecca Louise McDonald

Daniel Thomas Snelling

Dina Louise Snelling

The case, before His Honour Judge Michael Grieve QC in Court 8, Southwark Crown Court (London SE1), is likely to conclude in some time in the first part of July. Evidence will probably finish this week or early of next. Speeches and judge's summing up will take up next week with the jury likely to retire in the first week in July to consider their verdict.

Reports are here (17.6.13) and here (18.6.13).