Tasmania Police has launched a criminal investigation into Nant Barrel Holdings’ barrel buy-back investment scheme.
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The investigation was launched on Thursday after investors claimed the scheme had been operated fraudulently.
Australian Whisky Holdings took over operation of the Nant Estate distillery at Bothwell earlier this year and FTI Consulting was appointed as receiver by a Nant Distilling Company creditor to secure the distillery assets.
Fraud and e-Crime Investigation Services officers assessed documentation and discussions between Nant Barrel Holdings Pty Ltd and Australian Whisky Holdings Ltd before launching a formal investigation into investors’ allegations of fraud.
An online war broke out between Australian Whisky Holdings and Nant Distilling Company in March over which company owned the whisky barrels after the former took control of the distillery in Tasmania’s Central Midlands.
Australian Whisky Holdings contacted investors offering to monitor, manage and insure their barrels until maturity and also published a list of unfilled barrels that do not exist, as well as a list of unfilled barrels with incorrect paperwork.