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A Drinks Distributor Was Convicted of Defrauding Investors

In 2012, Joseph Falcone launched the wine and liquor distributor 3G's Vino in New York City.And he apparently took a particular liking to Copa di Vino and its high-profile TV appearance.Copa di Vino—the "leading producer" of wine prepackaged in individual glasses—did appear on "Shark Tank.".The DoJ explains that, armed with that sales angle, in September 2014, Falcone began finding investors for 3G’s Vino.But approximately $527,064 was never used to sell the glasses of wine with a built-in freshness seal.Instead, the feds say he spent that money on himself—paying off the mortgage on a home in Florida and trading securities.I took investors’ money for the purpose of investing it into a start up wine business. Then, I wound up co-mingling funds with personal funds, and using some of the investors' money for my own ends, Joseph Falcone

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