Billionaire wins wine fight; jury awards him $380K

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Associated Press

Posted on April 11, 2013 at 7:36 PM

Updated Friday, Apr 12 at 2:02 AM

NEW YORK (AP) — A Florida billionaire says he'll celebrate a New York jury's finding that he was sold nearly $400,000 of fake vintage wine by a California businessman the only logical way — with a glass of wine.

A beaming William Koch (KOHK) — a yachtsman who won the America's Cup in 1992 — emerged victorious late Thursday from federal court in Manhattan. The jury sided with him on every claim against businessman Eric Greenberg. Jurors awarded him about $380,000 in compensatory damages. They'll return to court Friday to decide if he'll get punitive damages as well.

A dejected Greenberg only shook his head when asked to comment. But Koch called the verdict "a homerun." He says hundreds of millions of dollars in fake wines are sold to an unsuspecting market.

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