Whisky Barrel Scam Conjures Victims
This is a Scotland news story, published by BBC, that relates primarily to Geoff Owens news.
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Whisky barrel scam cons victimsBBC
•Business
Business & Economics
Hundreds lose life savings in whisky barrel scam
68% Informative
Hundreds of people were duped into ploughing their life savings and pensions into casks that were overpriced or did not exist.
Victims include one woman with terminal cancer who invested 76,000 and another woman who spent more than 100,000 on casks which experts say were only ever worth a fraction of the price they paid.
Police are investigating three Scotch whisky companies over fraud allegations.
Geoff Owens invested his life savings - more than 100,000 - with Whisky Scotland .
He and other investors are now trying to track down their casks and investments.
Martin Armstrong runs Whisky Broker , a bonded warehouse in Creetown , near Dumfries .
He says he's being contacted " almost every day " by investors looking for casks.
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