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Billionaire loses NY lawsuit over rare wine

NEW YORK (AP) — Billionaire collector and yachtsman William Koch has lost a lawsuit against Christie’s alleging the auction house had sold vintage wine it knew was counterfeit. A federal judge in New York threw out the case. She ruled that the statute of limitations had run out.

Koch vowed to appeal.

He claimed that the auction house ignored evidence of fakery in the 1980s when it marketed several bottles of Bordeaux as originally owned by Thomas Jefferson. He also claimed that Christie’s turned a blind eye to fraud in the rare wine business since those sales.

The judge also ruled that Koch wasn’t “injured” when he purchased a $4,200 bottle of rare wine at a 2008 Christie’s because he believed all along that it was a fake.

Christie’s has denied the charges.