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Wine collector apologizes for bogus bottle scam

By WTOP Staff

LARRY NEUMEISTER
Associated Press

NEW YORK (AP) — A wine collector convicted of fraud for manufacturing fake vintage wine in his California kitchen has asked a judge for leniency Thursday, saying his actions were foolish.

Rudy Kurniawan told the judge in a letter that he “never meant to hurt or embarrass anyone” and asked that he be allowed to return to his ailing 67-year-old mother.

Kurniawan’s letter to U.S. District Judge Richard M. Berman was filed the same day his sentencing was postponed to July 17.

A jury convicted Kurniawan in December of mail and wire fraud charges that could bring up to 40 years in prison. Prosecutors say federal sentencing guidelines call for him to serve at least 11 years in prison while defense lawyers say the two years he has spent in prison already is sufficient punishment.

Prosecutors say Kurniawan, 37, made between $8 million and $20 million from 2004 to 2012 by selling bogus bottles of wine he manufactured in his Arcadia, California kitchen. The government said the profits enabled him to live affluently in suburban Los Angeles, mingling with wealthy and influential people interested in vintage wine as he bought luxury cars, designer clothing and dined at the best restaurants.

The trial featured testimony from billionaire yachtsman, entrepreneur and wine investor William Koch, who said Kurniawan conned him into paying $2.1 million for 219 fake bottles of wine.

Kurniawan, whose family became wealthy operating a beer distributorship in Indonesia, said his own obsession with fine wines led him to actions that were wrong, both morally and socially, and he will return to Indonesia after he serves his sentence.

“Wine became my life and I lost myself in it,” he wrote. “What originally started out as buying a few bottles of wine at a local store over the course of years turned into buying millions of dollars worth of wine.”

He said his obsession attracted attention from successful and intelligent people whose acceptance he craved.

“I now realize that all this was false and pretentious and that my priorities were completely out of order. The things I did to maintain this illusion were so foolish. The end was inevitable,” he added.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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