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Mother said Josh Powell threatened her
PALM BEACH, Fla., Dec. 8 (UPI) -- A Palm Beach, Fla., billionaire says he's launching a legal campaign to stamp out counterfeit wine collectibles.
William Koch has sued the collector who sold him a 1787 Lafite Bordeaux inscribed with what were supposedly Thomas Jefferson's initials -- except that they were fake, the South Florida Sun-Sentinel reported Tuesday.
It said Koch has also filed four more lawsuits in what he's calling the first real effort to clean up the wine collecting industry, in which a single bottle can fetch more than $100,000.
"I think it started off as a gentle breeze that's turning into a hurricane," Koch told the newspaper, asserting he's spent $4 million on wine that turned out to be fake and another $7 million in legal expenses. "I'm going after this like a junkyard dog or like a bulldog. I'm not giving up."
As a result, he said, some auction houses are shunning him.
The upside, however, is that collectors are reportedly becoming more wary of fakes and forgeries.
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