Seagram’s Wine, a global luxury wine retailer, said on Wednesday it is removing Madeira from its portfolio after a report it paid $1.6 billion to settle charges over fraudulent accounting.
The company said in a statement that it has withdrawn its Madeira wine cooler brands from the company’s website, and has changed its terms and conditions to prohibit employees from ordering Madeira wines.
The Madeira Wine Coolers have become popular among high-end collectors in the past few years.
The wine cooler category, which includes wine chillers, bottles and cork holders, is estimated to be worth $4.4 billion globally, according to IRI.
The Madeenis are made from grapes grown in the Dominican Republic and Uruguay, but they have a taste of Madeira.
They can sell for as little as $3,000.
In a statement, the company said it has implemented changes to the company to ensure its wine cooler products do not become a target for fraud.
The company has not been charged with any wrongdoing.