Live from the cbs bay area studios this is kpix5 news. Tales of luxury the owner of this bay area wine shop schemed customers out of millions. So where did that money go . Tonight tales of luxury cars and online dates. Tonight that berkeley wine shop owner admits to fooling customers and using their cash for his pleasure. Kpix5s Christin Ayers shows us how he did it. Reporter the storefront is still standing, but the business is bankrupt. Today john fox, former owner of premier crew fine wines in berkeley admitted to running a ponzi scheme and ripped off his customers for 40 million. Heres how the scam worked. A customer would purchase expensive european wines from fox with the promise it would arrive in six months to two years, but in many cases fox admits he falsified purchase orders and never even bought the wine. The u. S. Attorney said fox acknowledged between 2010 and 2015 he sold or attempted to sell approximately 20 million worth of phantom wine that he never actually purchased
Good morning, everyone. Im scott mcgrew. We pay a lot of attention to very young people these days, the head of snapchat is 25, John Collison who created the Company Stripe with his brother, 25, though i think 24 when last on press here. Theyre smart people making the world a better place and we love talking to them. But every once in a while its nice to get a little perspective from someone who is not in fifth grade when pets. Com ran those dog puppet commercials. Somebody like longtime valley investor michael kwatinetz, 25 once, just not as recently. Mike earneds the title number one stock picker on wall street until he turned venture capitalist, his blog sound bites are read by smart investors and a general partner and has a ph. D. From cal berkeley, one of the most authoritative voices on Education Technology today joined by mike cia of investors business daily and [ inaudible ] graham of fortune. Let me ask you the way i set that up, i want to look back at some of the things youve
Youre watching Market Makers. I am alix steel. Golf fan, buthuge i enjoyed playing the game. You got to sit down with tiger himself. That is pretty cool. And rory mcilroy. He could have a career grand slam. He is only 25 years old. Things inputting perspective. We will have that whole interview in the show. These are the top business stories. Home depot rose today. The biggest retailer in the u. S. Beat estimates. They also raised the fullyear forecast. Consumers are spending more on a renovations. Bhp will spin off into another company. They weresays expecting a buyback for shareholders. There was some disappointment. James shirov has died. At Price Waterhouse coopers. He was also a lead director at goldman sachs. A why is there such disconnect between Housing Starts and homebuilders. Homebuilders of not been this optimistic in years. Brokehows that they ground on 1. 1 million homes in july. That is two thirds of the average between 2003 and 2007. Michael mckee is here to explain why.
And your chance to sing with the stars. How you can perform alongside everyone from katy perry to taylor swift. Fill in that blank space next to them. Even joining Paul Mccartney on stage. Are you ready to be a rock star . And we do say good morning, america. And ill write your name. You know, the lyrics. Way back, taylor and i. Way back. This friday morning, great to have david muir with us. George is on assignment. Hes sitting down with the president a little bit later today. The president s first interview after his speech last night on immigration. George with the tough questions for the president. We want to get right to that monster snowstorm. This neighborhood covered. That one car dug out, showing how deep it is. And this husband digging the path for his family. The dog watching it a couple feet behind. Thats true. And the fear now is turning to collapsing roofs and flooding. Temperatures about to rise. Gio benitez is outside buffalo, new york, this morning. Again for us this m
Hospital. Reporter thankfully he is back home. He was treated in south san jose and discharged a few hours ago. Now he is home with his owner who is still trying to understand why someone would beat his dog. When tony returned to his home in san jose yesterday, he realized it had been ransacked. What he saw next was even more disturbing. They were trying to beat him against the wall will. Tony took this video of bloody paw prints throughout his home. He feared his dog bobo had died. He finally found the pomeranian mix hiding on the patio. He was so bloody. We couldnt even recognize him. When i got home it was already dried. But it was sticky all over his face from the top of his head to his face and all his chest. And all his paws were bleeding. He said they stole jewelry, a laptop and other electronics. What shocked him most was what they did to his best friend boba. He said it appears the suspects went out of their way to kick or beat the 14pound dog. I am my dog is everything to me.