Martin Armstrong's warehouses in Scotland house 48,000 barrels of Scotch whisky, yet 17 barrels became a liability due to the collapse of Cask Whisky Limited. This investment firm misled customers who had purchased single barrels, promising unrealistic returns. As a result, distressed investors sought answers about their misplaced barrels, despite Armstrong never having done business with Cask Whisky. The trend of whisky investment scams has surged as the luxury whisky market grows, with some companies inflating prices or engaging in outright fraud, especially in London.
"Last year, 17 of them became a problem... desperate calls from people who had bought just one or two barrels from an investment outfit called Cask Whisky Limited."
"Scotch whisky-investment scams have taken off in recent years... investors willing to overlook red flags due to rising luxury whisky prices."
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