Wine fraud on the rise in Hong Kong

Article from The Drinks Business:

Hong Kong’s booming wine sector has led to a surge in illegal wine activities, from wine theft to investment frauds, writes Jessica Lam Hill Young.

Local media recently reported the largest wine fraud scheme in Hong Kong this June, involving a wine broker company called Premium Liquid Assets, which swindled over 400 people out of HKD$50 million by advertising a 10-30% investment return on en primeur wine. 

Click on Drink Business above to read the rest. 

See also earlier post on investdrinks here.

Letter from Liquid Assets Ltd about Premium Liquid Assets

Letter of Declaration between Liquid Assets Ltd. and Premium Liquid Assets Ltd.	13 June, 2011
Letter of DeclarationLIQUID ASSETS and PREMIUM LIQUID ASSETS It has come to our attention that we, LIQUID ASSETS LIMITED, supplier of fine wines and beers from around the world, has been largely confused with the French wine wholesaler PREMIUM LIQUID ASSETS who are currently under investigation of a wine investment scam. Please be duly informed that LIQUID ASSETS LIMITED does not offer any wine investment service and is not engaged in any such activities. LIQUID ASSETS LIMITED and PREMIUM LIQUID ASSETS are wholly separate business entities and are not in any way affiliated or undergoing any business collaboration. Should you have any enquiries, please do not hesitate to contact us directly for verification and clarification. Yours Faithfully,Liquid Assets Limited (Liquid Assets Ltd is based in Hong Kong) From: http://www.liquidassets.com.hk/news/detail/LetterofDeclarationb/eng/ www.premiumliquidassets.com Report in Chinese on apparent problems with Premium Liquid Assets here.