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Beverage Trade Network

Charles Banks’ wire fraud trial date set by federal court. Napa paper plays old story as sensational news.

The jury selection and trial for federal fraud charges brought against vintner/financier Charles Banks IV are to begin on Monday, April 17, 2017 in U.S. District Court for the Western District of Texas (San Antonio) according to documents filed Oct. 20.

 

Court records show that Banks was indicted via a sealed indictmenton Sept. 8, 2016 and arrested the following day.

 

The government has accused Banks of two counts of wire fraud that allege Banks mishandled  more than $20 million in investments of his ex-client, retired San Antonio Spurs All-Star Tim Duncan.

 

In addition, the Oct 20. court filing set March 9, 2017 as the deadline for filing any possible plea arrangement.

 

Previous Wine Industry Insight coverage:

Note to Napa Valley Register: It’s not NEWS unless it’s NEW (otherwise it’s HISTORY)

The Napa Valley Register went pretty much off its nut, publishing a sensational headline on Friday, Nov. 5 that indicates that it just now discovered this old story. Or perhaps it was desperate to publish something that might boost its Internet traffic: “Former Screaming Eagle owner Charles Banks facing federal fraud charges”

 

The article said nothing new that had not already been written by other media outlets — including Wine Industry Insight — back in early September.

 

However, as the screen capture, below indicates, running old material as news certainly worked for boosting readership. Although one wonders how many of those readers got angry at finding nothing new.

 

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