- Customers of Cask Spirits Global Limited paid almost £100,000 for whisky casks which many never legally owned
- The company targeted its customers through social media advertising and cold-calling
- Certificates were also issued in the name of a company that does not exist
A whisky investment firm has been shut down after customers paid for casks they never legally owned.
Cask Spirits Global Limited used high-pressure sales tactics to sell whisky cask investments, promising customers substantial returns and tax advantages.
However, of the 17 customers the Insolvency Service identified who paid a total of £97,249, only four had valid ownership documentation.
True losses may be even higher as the company failed to provide 27 of…