The article highlights the increasing prevalence of Scotch whisky investment scams, exemplified by Martin Armstrong's experience with Cask Whisky Limited. Investors, enticed by promises of high returns, found themselves in turmoil when the company collapsed, leaving them unable to locate their barrels. Armstrong, who typically works with larger companies, received numerous inquiries despite having no direct dealings with Cask Whisky. The surge in luxury whisky prices has obscured warning signs, allowing both legitimate and fraudulent companies to flourish in the market.
Mr. Armstrong knew exactly what he was dealing with: yet another in a growing number of Scotch whisky-investment scams.
...the rapid rise in the price of luxury whisky makes investors willing to overlook red flags.
Some are semi-legitimate operations that sell barrels at prices so inflated they will take decades to turn a profit; others are practicing outright fraud.
We were inundated by questions, Mr. Armstrong said. He couldn't help most of them.
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