French police bust $2.8M vintage wine scam

French police say they have busted a scam in which merchants made $2.8 million selling fake bottles of an expensive vintage wine across Europe.

French police bust $2.8M vintage wine scamThe bottles of poor-quality wine were allegedly re-labeled as the Burgundy red Romanee-Conti, with counterfeit labels. The labels were treated with wax to make them look older, French prosecutors say, according to the BBC.

Two Italian wine merchants have been arrested so far and they are suspected of selling 400 fake bottles in six European countries, including Britain and Italy.

The small, 4-acre vineyard that makes Romanee-Conti notified authorities of the scam.

In 2011, a 12-bottle case of the real thing, dating back to 1990, sold for $297,000 in an auction, the BBC reports.

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