The scale of the disaster at investment sham Bordeaux Fine Wines is even worse than I feared.

Yesterday, the firm was shut down in the public interest in the High Court, which heard the astonishing news that its turnover was £45million but wine worth just £200,000 is known to be stored for investors.

The operation employed sales reps on no salaries, just commission, to fleece the public by selling wine at up to three times its true value.

It paid $80,000 (about £50,000) to the so-called Wolf of Wall Street, Jordan Belfort, to give a two-day motivational seminar.