A BRITISH man has been arrested by the FBI over an alleged £10 million scam in which it is claimed elderly people in the US were duped into investing in Scotch whisky.
Casey Alexander, 25, is accused of convincing pensioners in the States to buy barrels of Scotch with the promise of huge returns.
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Federal agents say Alexander made trips across the pond to speak to clients and said he was a representative of a firm called Vintage Whisky Casks.
He is said to have told potential investors that distillers liked to have their new casks sold for cash flow reasons and that they would double in value in three years.
It is alleged Alexander and his associates contacted investors saying they would be invited to a party for “high-end investors” in Scotland if they bought more whisky.
The FBI claimed investors were also told the barrels would be held at a storage facility in the UK until they were ready to be sold.
Alexander, of London, was arrested in Ohio last week following an FBI sting operation involving an informant posing as a potential client.
He has appeared at federal court in Cleveland charged with conspiracy to commit wire fraud and was released on bail after posting a £41,000 bond.
Alexander is said to have worked for three companies which carried out the alleged fraud, which also involved rare wines.
The companies are accused of obtaining phone numbers for elderly people throughout the US and cold-calling them.
Investigators allege Alexander’s name was on one of the companies’ bank accounts and he physically cashed cheques at a bank.
The FBI claim they have identified 150 people who may have invested a total of £10.6 million in the companies connected to the alleged fraud.
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Source: The Sun
