Jury awards $12M to Fla. billionaire in wine spat

Jury awards $12M to Fla. billionaire in wine spat
Florida energy magnate William Koch, right, arrives at Manhattan federal court, Wednesday, March 27, 2013, in New York. Koch alleges in a federal lawsuit that California businessman Eric Greenberg sold him $300,000 in vintage wine, some of it supposedly dated to 1805, that turned out to be phony. (AP Photo/Louis Lanzano)
NEW YORK (AP) - A jury in New York has awarded $12 million in punitive damages to a Florida billionaire in his dispute over pricey wine.

Friday's federal court decision was another victory for William Koch (KOHK').

On Thursday, the Manhattan jury found that he was sold fake vintage wine by California businessman Eric Greenberg. It awarded Koch about $380,000 in compensatory damages.

Greenberg said in a statement that he would appeal.

Outside court, Koch called the award "out of sight, over the moon!"

Koch also is a yachtsman who won the America's Cup in 1992.