The jury said Koch deserves $12 million in punitive damages on top of the $380,000 in compensatory damages he was awarded a day earlier, the New York Daily News reported.
Koch went to court after two dozen bottles of Bordeaux he bought from Greenberg for $300,000 turned out to be undrinkable fakes.
"Out of sight, over the moon," Koch said upon leaving the courthouse while clinching one of the wine bottles, a purported magnum of 1921 Chateau Petrus he paid $29,500 for in 2005.
Koch said he would use his award money "set up a fund to go after wine fraud and auction fraud."
"There's been a huge code of silence in this industry," he said. "My whole point is to shine a bright light on it. The perpetrators are now warned and there are now serious consequences."
The Daily News said Greenberg spent $5 million defending himself He said Koch had rejected his offer of a refund back in 2007 and found the jury's decision "disappointing."
"I'm sorry the wines I sold Mr. Koch were counterfeit," Greenberg said. "I thought they were real."
Toddler uninjured after being knocked over by Obama family dog
Martin Bashir resigns from MSNBC over Sarah Palin comments