Billionaire William Koch settled a $100,000 lawsuit against an Upper West Side wine auctioneer he accused of hawking fake vintages, The Post has learned.
The terms of the settlement reached with Acker, Merrall and Condit are confidential but likely favorable to Koch, who has said he is on a “personal crusade” to rid the world of phony oenophiles. It comes a year after the energy magnate won $12 million in another case against a counterfeiter.
Koch purchased five bottles of French wine from Acker in 2005 and 2006 for $78,000.
The auction house even touted its source for a bottle of 1949 Chateau Lafleur noting, “Over the years, and after seeing numerous counterfeit wines, this collector takes exceptional pride in the bottles he has acquired and the quality of his collection.”
But it turned out the $10,000 bottle was a fake.
Koch praised the accord as “a big victory for consumers,” noting, “no one likes to be deceived.”
The settlement includes a significant payment from Acker, Acker’s agreement to change it business practices to prevent further counterfeit wine from entering the marketplace, and allow other customers to return fake bottles, Koch said.