John Fox, who confessed to running a wine Ponzi scheme from his Berkeley store, Premier Cru, was sentenced to six and a half years in prison for his crimes.
John Fox, the former owner of Premier Cru, was not a very good criminal, according to the government, but his cooperation with them may see him served fewer years in prison.
The contents of the Premier Cru office and warehouse in Berkeley will be auctioned off on Saturday, and they reveal much about John Fox, the former owner accused of a Ponzi scheme.
John Fox, a lanky 66-year-old with fading red hair, used to meet scantily-dressed 20-year-olds at least two or three times a week at Artís Coffee on Berkeley's Fourth Street.
For his combined crimes, John Fox probably faces a maximum of six and a half years in prison and is on the hook to pay $45 million in restitution.
The owner of Premier Cru purchased much of his fine wine on the gray market.
John Fox, the embattled co-owner of Premier Cru, faced some of his long-time customers at a creditors' hearing in Oakland.
For 35 years, Premier Cru, a retail store on University Avenue, was a place to which wine lovers turned to find Bordeaux and Burgundy at a discount. Advertising its wares as 10% to 15% lower than other high-end wine stores, Premier Cru drew customers from around the globe