Billionaire wins wine fight; jury awards him $470,000

NEW YORK (AP) - A Florida billionaire says he'll celebrate a New York jury's finding that he was sold nearly US$400,000 (S$495,000) of fake vintage wine by a California businessman the only logical way - with a glass of wine.

A beaming William Koch - a yachtsman who won the America's Cup in 1992 - emerged victorious late Thursday from federal court in Manhattan. The jury sided with him on every claim against businessman Eric Greenberg. Jurors awarded him about US$380,000 (S$470,000) in compensatory damages. They'll return to court on Friday to decide if he'll get punitive damages as well.

A dejected Mr Greenberg only shook his head when asked to comment. But Mr Koch called the verdict "a homerun." He says hundreds of millions of dollars in fake wines are sold to an unsuspecting market.