🥃 $100M Spirits Investor Ponzi Scheme
Plus: Groundbreaking Bourbon Experiments, EU Whiskey Tariff Extension, and More
Today’s edition is presented by Norlan.
Norlan Glass is an award-winning, patented whisky glass that was refined with master distiller Jim McEwan.
It is made from hand-blown double-walled borosilicate glass and features a concave outer rim that fits the lower lip of the mouth elegantly.
The glass's unique design reduces ethanol burn through specially developed inner protrusions, making it the perfect way to enjoy your favorite whisky.
Hey folks today we dive into a $100M spirits investment swindle, groundbreaking bourbon aging experiments at Buffalo Trace's Warehouse, EU's extension of whiskey tariffs, and much more. We hope you enjoy it!
⛏️ Our Picks
1. Experimental Warehouse Shapes Eagle Rare
Buffalo Trace's Warehouse P, a multi-million-dollar experiment, redefines bourbon aging.
By precisely controlling environmental factors, they aim to create unique, well-aged bourbons like Eagle Rare 25, avoiding excessive astringency.
This experimental approach charts the future of bourbon aging.
2. NearyNógs Chocolate & Whiskey Collabs
NearyNógs, a renowned chocolate maker, collaborates with local whiskey producers, including Old Bushmills and Hinch, to create gourmet chocolates like the 'Old Fashioned' bar and unique truffles.
This family-owned business in Northern Ireland has also partnered with Whitewater Brewery to craft chocolates featuring Belfast Black Stout.
3. EU Extends Whiskey Tariff Suspension
The EU extends the suspension of American whiskey tariffs until March 2025, providing relief for US whiskey makers.
Originally suspended in January 2022, the 25% tariff on American whiskey imports was set to double if no resolution was reached by January 2024.
The extension is welcomed by industry representatives, although a permanent resolution is still desired to ensure export growth in the EU market.
American whiskey exports to the EU saw significant increases during the suspension period.
👀 Curated Collections
1. Springbank 1989 Single Malt Whisky Delivers Unparalleled Craftsmanship
In the vast whisky landscape, few distilleries possess the legacy and reputation that Springbank Distillery commands.
Established in 1828 in Campbeltown, Scotland, Springbank has been producing exceptional whiskies for over two centuries.
Among its impressive lineup of releases, the Springbank 1989 stands as a testament to the distillery's dedication to creating remarkable expressions of single malt whisky.
To truly appreciate the Springbank 1989 release, it is essential to understand the rich history of Springbank Distillery.
Since its inception, the distillery has maintained its independence and family ownership, allowing it to preserve time-honored techniques and recipes.
This commitment to tradition has garnered immense respect from whisky enthusiasts worldwide.
Distilled in 1989 and aged for several decades, this expression represents the pinnacle of Springbank's artistry. It has become a coveted addition to any whisky collection with limited availability.
A bottle could run you anywhere between $400 to $550.
2. Experience the Whisky Renaissance with Benromach 10 Year Old
Riding the wave of the whisky renaissance, Benromach 10 Year Old is a thrilling dram from the heartland of Scotch.
The latest release of the Benromach 10 underwent a subtle change in formulation, adjusting the balance of oak casks used in maturation.
While the previous incarnation was a blend of 80% ex-Bourbon and 20% ex-Sherry casks, finalized with a 12-month sojourn in ex-Oloroso casks, the new version eschews the additional sherry finish.
The whisky now relies on the robust interplay of ex-Bourbon and ex-Sherry casks, which Benromach describes as "the finest oak casks."
Benromach 10-Year-Old offers a beautiful introduction to smoky whiskies, whether you're a whisky connoisseur or a novice.
A bottle could run you anywhere between $80 to $120.
3. Buffalo Trace Launches Daniel Weller Wheated Bourbon Line
Buffalo Trace announces a new line of wheated bourbons under the beloved Weller name.
The series, named after the legendary Daniel Weller, the grandfather of the famous William Larue Weller, aims to explore the fascinating effects of different wheat strains on bourbon.
Esteemed Master Distiller Harlen Wheatley is leading this project and plans to release a limited edition Daniel Weller whiskey every other year.
The first release, Daniel Weller Emmer Wheat, uses an ancient-Egyptian wheat strain called Emmer, more commonly used for bread and beer than whiskey.
Harlen Wheatley expressed his enthusiasm for the experiment, stating,
"We've found it offers just a slightly - yet delightfully - different taste that brings us into new bourbon territory.
It will taste like Weller, but with distinct, unique notes that make it stand apart from the other Weller whiskies we've released."
The Daniel Weller Emmer Wheat has been carefully aged for nearly 12 years and bottled at a robust 94-proof.
Distilled in the innovative E.H. Taylor, Jr. Microstill, a combination pot and column still designed by Wheatley himself.
A bottle could run you anywhere between $500 to $600.
🗞️ Deep Dive
$100M Spirits Investor Ponzi Scheme
In a complex Ponzi scheme spanning nearly two years, two British individuals have allegedly duped investors into contributing close to $100 million in loans, supposedly for wealthy wine collectors, according to federal prosecutors.
These collectors turned out to be entirely fictitious, as did the extensive wine reserves the accused promised as collateral for the loans.
What does this mean?
Stephen Burton and James Wellesley, the individuals behind this scheme, allegedly operated within a company named Bordeaux Cellars.
From June 2017 to February 2019, they approached investors worldwide, including New York residents, offering loans supposedly backed by a vast wine inventory containing bottles worth thousands of dollars.
These bottles, such as those from Domaine de la Romanée-Conti and Château Lafleur, were said to generate regular interest payments for the investors.
The indictment reveals that Bordeaux Cellars had far fewer wine bottles than promised, and the men used lenders' money to make interest payments to other investors and enrich themselves.
Why should I care?
Spirits collectors and investors should remain vigilant and conduct thorough due diligence before committing their money to such ventures.
It's a stark reminder that financial fraud can happen in various forms and across borders, underscoring the importance of regulatory oversight and legal consequences for those involved in such fraudulent activities.
✨ Whiskey + AI Image of the Week
We’re using Midjourney to develop this image. It doesn’t disappoint. The captions show the prompt we used.
Today’s edition is presented by Norlan
Norlan Glass is an award-winning, patented whisky glass that was refined with master distiller Jim McEwan.
It is made from hand-blown double-walled borosilicate glass and features a concave outer rim that fits the lower lip of the mouth elegantly.
The glass's unique design reduces ethanol burn through specially developed inner protrusions, making it the perfect way to enjoy your favorite whisky.
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