Consultant Maureen Downey has cleared Taiwanese billionaire Wood Chen of allegations connecting him to counterfeit wines after inspecting a selection from his extensive collection. Downey, who has a reputation for addressing wine fraud cases, assessed 1,500 bottles from Chen’s estimated 50,000-bottle collection, which includes around 20,000 stored in Taiwan.
This scrutiny arose after the former chairman of electronics company Yageo Corporation was implicated in a counterfeit scandal that was reported by Taiwanese media. It was suggested that elite figures in Taiwan had fallen victim to fake wine transactions, specifically linking the controversy to Chen. Since 2019, he has been selling wines from his collection to friends and merchants.
To verify the authenticity of his collection, Chen engaged Downey and her team at Chai Consulting, known for their expertise in wine fraud. They examined labels and corks over a six-day period, documenting their findings on the blockchain.
The inspection results revealed that out of the 1,500 wines examined, only 130 were definitively counterfeit, with an additional 15 categorized as problematic. This amounts to a counterfeit rate of just 1% to 2%—a remarkably low figure, especially considering typical market rates for counterfeit wines, which are generally between 8% and 10%.
Downey expressed that the low rate of counterfeits was especially notable given the high-risk nature of the wines inspected. She remarked on the unfortunate reality that even trusted supply chains can be compromised, and advanced counterfeits can trick even reputable merchants. Thus, discovering such a small number of counterfeits in Chen’s collection is seen as a testament to his care as a collector.
Concerns regarding Chen’s wines surfaced after a tasting event among Taiwanese elites, where participants noted that the wines, despite differing vintages and wineries, tasted nearly identical, raising suspicions. Following this, Top 100 Wine, a retailer involved, offered to reimburse clients who bought from the collection after acknowledging that the wines in question came from Chen.
In defense, Chen argued that one tasting does not suffice to label an entire collection as counterfeit. Downey supported his stance, deeming the allegations baseless and mentioning that she considers Chen to be a diligent and knowledgeable collector.
Chen and Downey have maintained a cordial relationship since he participated in her wine fraud workshop in Hong Kong in 2017, with Downey stating he possesses her utmost respect.