The news was first reported by the New York Post, which had a reporter at the scene who saw some police officers inside wearing FBI shirts.  FBI officials neither didn't discuss why the officers were there.  

The company owes New York State $2.7 million in unpaid sales tax, as well as several customers who say Sherry-Lehmann has not delivered wine or wine futures they purchased.

Fortune  said the raid followed a tip from the New York Times which reported the Justice Department has convened a federal grand jury as part of a criminal investigation into charges the store hadn't delivered fine wine that had been ordered and paid for to the purchaser.  The Times also quoted former employees who believed Sherry-Lehmann was improperly selling clients’ rare bottles from a storage facility to other customers.