A BAROSSA Vines investor claims the Managed Investment Scheme company left investor's grapes to rot.
BV came under fire in July for planting vines when Australia's oversupply had the industry calling for a government-sponsored vine pullout.
The investor, who has forked out $100,000 to BV's MIS projects, visited the BV properties and discovered vines laden with fruit.
The company has more than 1000ha of land under vines in the Barossa region.
"They're maintaining it was fried by the heat wave, (but) you can eat it. It's not burnt or dried," the investor told The Weekly Times.
"The amount of fruit on the vine was horrendous. We drove around looking at other vineyards and none had fruit (left on the vine)."
The Weekly Times contacted a well-placed Barossa wine industry figure, who said he was unaware of any other vineyards that failed to harvest due to heat damage this year.
BV director Antonio De Francesco would not comment but had previously said fruit left on vines was heat-damaged.
In a letter to Federal Treasurer Wayne Swan, the investor said he was "appalled" the Australian Securities Investment Commission was "letting investor growers down" by failing to enforce reporting requirements upon Barossa Vines.
Returns on the investment were tracking at about a quarter of what the company had projected, the investor said.
"We've had it for years and received only one financial report," the investor said.
"Last year's harvest proceeds were delayed, then I got some money in December and . . , the rest about three months later."
ASIC had not provided a response at the time of going to print.
