Latest news with #Wellesley
CBS News
2 days ago
- Business
- CBS News
5 of America's wealthiest suburbs are in Massachusetts, study finds
Massachusetts is home to some of the richest suburbs in America, according to a new study. Personal finance website recently put out a ranking of the Top 50 wealthiest suburbs in the country, based on average household income data from 2023. Five of the communities making the list are suburbs of Boston. The town of Wellesley, which is about 15 miles outside of Boston, is 10th on the list. The average household income in Wellesley is $368,179. The average home value in town for May 2025 was $2,079,414. Next on the list for Massachusetts at No. 32 is Lexington, where the American Revolution began. The average household income in Lexington rose to more than $300,000 in 2023, and average home values are just under $1.7 million. Winchester, which is 8 miles north of Boston, was 35th on the list. The town's average household income is $296,327, and the average home value has climbed to more than $1.7 million. Coming in at No. 43 is Needham, about 10 miles southwest of Boston. The average household income was just over $281,000 in 2023 and the average home value is nearly $1.6 million. Rounding out the list for Massachusetts is Newton at No. 49, with an average household income of $261,666 and an average home value of about $1.75 million. First on the list was Scarsdale, New York, where the average household income is a whopping $601,193. In the Boston area, the cost of buying a home continues to skyrocket. The Greater Boston Association of Realtors said last week that the median price of a single-family home in the area has surpassed $1 million for the first time.
Scottish Sun
12-07-2025
- Scottish Sun
Brit charged with £73m wine scam after he allegedly sold vino that didn't exist for £12k as he appears in New York court
He has been detained on charges of wire fraud and money laundering SAV PLONK Brit charged with £73m wine scam after he allegedly sold vino that didn't exist for £12k as he appears in New York court Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A BRIT is facing charges in a New York court over his alleged connection to a major $99 million wine fraud. James Wellesley, 58, pleaded not guilty on Friday after he was extradited from the UK. Sign up for Scottish Sun newsletter Sign up 7 James Wellesley, who allegedly sold vino that didn't exist for £12k Credit: Kent Police 7 The defendants are alleged to have solicited $99 million in investments from residents (picture is not of wine in question) Credit: Bonhams 7 The US Attorney's Office alleges that neither the wine collections not the wine itself actually exist Credit: Linkedin 7 Stephen Burton had been extradited from Morocco in 2023 Credit: Kent Police He has been detained on charges of wire fraud and money laundering. Wellesley was arraigned today before United States Magistrate Judge Robert M. Levy The alleged Ponzi-style scheme involved getting investors to lend money to the wine collectors in return for regular interest payments. But the US Attorney's Office alleges that neither the wine collections not the wine itself actually exist. This included Domaine de la Romanée-Conti - which is listed online for more than $17,000 per bottle. These loans were said to be secured against a stockpile of expensive wines. The defendants are alleged to have solicited $99 million in investments from residents of New York and other areas between 2017 and 2019. Wellesley's co-defendant Stephen Burton had been extradited from Morocco in 2023. He had been trying to enter the north African country on a false Zimbabwean passport. 60-year-old Brit Burton has also pleaded not guilty to similar charges. Wellesley is reported to have had many aliases including Andrew Fuller and Andrew Templar. Shocking moment woman has full blown foot-stamping airport MELTDOWN at check-in Christopher Raia, assistant director in charge of the FBI New York office, said: "James Wellesley and his business partner allegedly concocted an elaborate scheme defrauding investors out of millions of dollars to finance their own personal expenses. "Their alleged deceit spread across years and continents." If convicted, the two each face up to 20 years in prison. 7 The alleged Ponzi-style scheme involved getting investors to lend money to the wine collectors in return for regular interest payments 7 The defendants are alleged to have solicited $99 million in investments from residents of New York Credit: Kent Police 7 The Brits are facing charges in a New York court Credit: Alamy Prosecutors allege the pair used loan proceeds "to make fraudulent interest payments to investors and for their own personal expenses". Ricky Patel, a Homeland Security special agent, said: "James Wellesley and his co-conspirator are accused of masterminding their nearly $100 million international fraud scheme that exploited the unsuspecting public, including New Yorkers, for their own selfish enrichment. "As alleged, the defendants claimed Bordeaux Cellars boasted a high-value wine stockpile and a clientele of 'high-net-worth wine collectors' – and in turn profited handsomely – all while they swindled investors out of hundreds of thousands of dollars, if not more. "Let it be known, regardless of the nature of the transnational criminal scheme, HSI New York, alongside our law enforcement partners, will continue to adapt and evolve to fight global and domestic financial crimes wherever and whenever possible." "Today's arraignment sends a message to all perpetrators of global fraud schemes that my office will work tirelessly to ensure they answer for crimes committed in the United States," said US attorney Joseph Nocella. "We will not rest in our efforts to seek justice for victims of fraud."
The Irish Sun
12-07-2025
- The Irish Sun
Brit charged with £73m wine scam after he allegedly sold vino that didn't exist for £12k as he appears in New York court
A BRIT is facing charges in a New York court over his alleged connection to a major $99 million wine fraud. James Wellesley, 58, pleaded not guilty on Friday after he was extradited from the UK. Advertisement 7 James Wellesley, who allegedly sold vino that didn't exist for £12k Credit: Kent Police 7 The defendants are alleged to have solicited $99 million in investments from residents (picture is not of wine in question) Credit: Bonhams 7 The US Attorney's Office alleges that neither the wine collections not the wine itself actually exist Credit: Linkedin 7 Stephen Burton had been extradited from Morocco in 2023 Credit: Kent Police He has been detained on charges of wire fraud and money laundering. Wellesley was arraigned today before United States Magistrate Judge Robert M. Levy The alleged Ponzi-style scheme involved getting investors to lend money to the wine collectors in return for regular interest payments. But the US Attorney's Office alleges that neither the wine collections not the wine itself actually exist. Advertisement This included Domaine de la Romanée-Conti - which is listed online for more than $17,000 per bottle. These loans were said to be secured against a stockpile of expensive wines. The defendants are alleged to have solicited $99 million in investments from residents of New York and other areas between 2017 and 2019. Wellesley's co-defendant Stephen Burton had been extradited from Advertisement Most read in The Sun Breaking Breaking He had been trying to enter the north African country on a false Zimbabwean passport. 60-year-old Brit Burton has also pleaded not guilty to similar charges. Wellesley is reported to have had many aliases including Andrew Fuller and Andrew Templar. Shocking moment woman has full blown foot-stamping airport MELTDOWN at check-in Christopher Raia, assistant director in charge of the FBI New York office, said: "James Wellesley and his business partner allegedly concocted an elaborate scheme defrauding investors out of millions of dollars to finance their own personal expenses. Advertisement "Their alleged deceit spread across years and continents." If convicted, the two each face up to 20 years in prison. 7 The alleged Ponzi-style scheme involved getting investors to lend money to the wine collectors in return for regular interest payments 7 The defendants are alleged to have solicited $99 million in investments from residents of New York Credit: Kent Police Advertisement 7 The Brits are facing charges in a New York court Credit: Alamy Prosecutors allege the pair used loan proceeds "to make fraudulent interest payments to investors and for their own personal expenses". Ricky Patel, a Homeland Security special agent, said: "James Wellesley and his co-conspirator are accused of masterminding their nearly $100 million international fraud scheme that exploited the unsuspecting public, including New Yorkers, for their own selfish enrichment. "As alleged, the defendants claimed Advertisement "Let it be known, regardless of the nature of the transnational criminal scheme, HSI New York, alongside our law enforcement partners, will continue to adapt and evolve to fight global and domestic financial crimes wherever and whenever possible." Read more on the Irish Sun "Today's arraignment sends a message to all perpetrators of global fraud schemes that my office will work tirelessly to ensure they answer for crimes committed in the United States," said US attorney Joseph Nocella. "We will not rest in our efforts to seek justice for victims of fraud."
AsiaOne
12-07-2025
- Business
- AsiaOne
UK man pleads not guilty in New York to $127 million wine fraud, World News
NEW YORK - A British man pleaded not guilty on Friday (July 11) in New York to charges he helped mastermind a nearly $100 million (S$127 million) fraud whose victims invested in loans meant for wealthy wine collectors -- except that neither the collectors nor their wine existed. James Wellesley, 58, entered his plea to wire fraud, wire fraud conspiracy and money laundering conspiracy charges before US Magistrate Judge Robert Levy in Brooklyn. Wellesley, also known as Andrew Fuller, was ordered detained without bail at Brooklyn's Metropolitan Detention Center, after unsuccessfully fighting extradition from Britain. A lawyer for Wellesley did not immediately respond to a request for comment. Stephen Burton, 60, another Briton charged with running the fraud, is being held at the same Brooklyn jail. He was extradited from Morocco to face the same charges, and pleaded not guilty in December 2023. Both defendants face up to 20 years in prison if convicted. Prosecutors said that from June 2017 to February 2019, Wellesley and Burton convinced victims to invest $99.4 million of loans brokered by their company Bordeaux Cellars, with interest payments coming from the wine collectors. The men allegedly told victims the loans were backed by an inventory of more than 25,000 bottles of wine, including from Domaine de la Romanee-Conti in Burgundy and Chateau Lafleur in Bordeaux. [[nid:688293]] But prosecutors said Bordeaux Cellars actually controlled thousands fewer bottles than the loan documents showed, including just 217 bottles in March 2018. Prosecutors said the defendants used loan proceeds to pay interest to some investors, or for personal expenses. The scheme collapsed when victims stopped receiving interest payments, prosecutors said. The case is US v Burton et al, US District Court, Eastern District of New York, No. 22-cr-00079.
12-07-2025
- Business
British man extradited to US to face federal charges in alleged $99 million wine scam
NEW YORK -- A British man has been brought to the U.S. to face charges in connection with an alleged $99 million Ponzi-like fraud involving expensive wines. James Wellesley, 58, pleaded not guilty during his arraignment Friday in Brooklyn federal court following his extradition from the United Kingdom, where he was arrested in 2022. He was ordered detained by a judge pending trial on wire fraud and money laundering charges. A lawyer for Wellesley didn't immediately respond to an email seeking comment. His co-defendant, Stephen Burton, was extradited from Morocco in 2023 after using a bogus Zimbabwean passport to enter that country. Burton, a 60-year-old British national, has also been detained and pleaded not guilty to similar charges in the same Brooklyn court. Prosecutors say the two men ran a company called Bordeaux Cellars that brokered loans between investors and wealthy wine collectors that were secured by their wine collections. From 2017 to 2019, they solicited $99 million in investments from residents of New York and other areas, promising their clients that they would profit from interest on the loans. But the wealthy wine collectors did not exist, no loans were made, and Bordeaux Cellars did not have custody of the wine securing the loans, prosecutors say. Instead, Burton and Wellesley used loan money provided by investors for themselves and to make fraudulent interest payments to other investors, prosecutors alleged.
