Wine Financier Charles Banks Pleads Guilty to Fraud

According to the Wine Spectator, “Charles Banks, the financial advisor and founder of Terroir Life, which owns or manages nearly a dozen wineries in California, New Zealand and South Africa, pleaded guilty to one count of wire fraud in a federal courthouse in San Antonio today…. The charge carries a maximum penalty of 20 years in federal prison.

The Spectator has done a very good job in its article: “Charles Banks Pleads Guilty to Fraud”

The complete plea deal documents are available to Wine Executive News subscribers.

• Defendant’s Statement Supporting Plea Deal

• Government’s Statement Supporting Plea Deal

Previous  Coverage:

• These 5 things might have prevented this NBA star from losing $20 million investing with Charles Banks

• Feds indict former Screaming Eagle owner Charles Banks, allege wire fraud.