Wine collection worth $5m missing from NSW

More than $5m worth of prestigious Australian wine has vanished, leaving collectors wondering what has become of their Grange and Henschke.

Dozens of wine collections belonging to about 300 owners were being held by Wine Investment Services until the group went into receivership three years ago.

Business assets were seized at the time but not the wine, and now NSW police are looking for answers.

NSW Police’s Fraud and Cybercrime Squad has launched Strike Force Farrington to track down the expensive liquid assets.

"Despite numerous further inquiries by owners, liquidators and local police, the wine was not located," Fraud and Cybercrime Squad commander Detective acting Superintendent Matt Craft said.

Detectives are keen to talk to anyone who has been approached by people selling collectable drops including Penfolds Grange, varieties of Henschke, Torbreck and Chris Ringland/Three Rivers.

Former James Estate Wines boss David James has been unable to explain where the wines ended up after his business collapse.

Mr James is currently being pursued by ANZ bank for more than $11m, Fairfax reports.