Knowing the red flags to any potential scam can help foil a fraudster & keep your money out of harms way. It is great to see the result of some internal detective work has resulted in the prevention of a very lucrative sale at this auction.
What warning signs should an individual consider? I have been involved in unravelling a very large wine investment fraud where individuals were cold called and promised too good to be true returns. Be scam aware.
A police raid of a residential address unearthed a ‘significant’ rare spirits collection, alongside a ‘sophisticated’ bottling operation that allegedly involved the refilling of hundreds of old bottles of whisky, rum and other spirits with cheaper liquids. The raid came after Whisky.Auction director Isabel Graham-Yooll noticed several bottles of fake whisky being submitted for auction among many genuine bottles, over a period of time. She became suspicious and arranged a visit to the property under the pretence of wishing to purchase bottles from the collection. She said: ‘What we saw at the property was a significant collection, hundreds of bottles, of supposedly valuable liquids that if genuine were unlikely to be available on such a scale.