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Billionaire Koch Settles With Acker Auction House Over Fake Wine

July 15 (Bloomberg) -- Billionaire William Koch said he settled a lawsuit against Acker, Merrall & Condit for selling more than 200 bottles of counterfeit wine at auction.

Koch said the accord includes a “significant payment” from Acker and that the auction house has agreed to change its practices to prevent fake vintage wines from entering the marketplace, according to a statement.

Brad Goldstein, a spokesman for Koch, declined to comment when asked about the amount of the accord.

To contact the reporter on this story: Patricia Hurtado in Federal Court in Manhattan at

pathurtado@bloomberg.net

To contact the editor responsible for this story: Peter Blumberg at pblumberg1@bloomberg.net

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