AN Enfield man who masterminded a £1.25m fraud selling imaginary wine to investors has been jailed.

Paul Craven, 39, set up the Bordeaux Wine Trading Company Ltd in Potters Bar, selling 'en primeur' wine between 2006 and 2008.

However, the luxury wine, which is stored in the barrel and not shipped to the UK until up to two years later, never existed.

Instead, Craven, of Woodside Court, and his partners Oseghale Hayble, 32, of Heritage Avenue, Colindale and Benedict Moruthoane, 29, of Raleigh Drive, Barnet, used the funds to live lavish lifestyles.

Hayble and Moruthoane set up another company – International Wine Commodities Ltd – for the same scam, raking in £800,000.

Moruthoane went on to start a third bogus firm – Templar Vintners Ltd – and when police quickly shut him down, they discovered he had already drawn in more than £50,000.

He was jailed in January for seven-and-a-half years at St Albans Crown Court, while Hayble was jailed for five years on Thursday, July 14.

Craven denied the charges against him but was found guilty after a trial. He was handed a six-year jail term by the judge.

Detective Constable Peter Thody, from Herts Police, said after the sentencing: “These men used this scam in order to live lavish lifestyles and relied on the fact that the investors would not expect to see the wine for some time.

“This has been a long, intricate investigation and I am pleased that it has now come to a successful conclusion.”