According to the 17th June 2011 edition of Today (Wine investors see red), the Hong Kong office of wine investment company Premium Liquid Assets (PLA) is under police probe for alleged investment scam.
Automated email replies from PLA mentioned that PLA’s Singapore branch is ‘currently in the midst of handling a legal issue’. No one answered the door when the Mediacorp reporter visited PLA’s office at Ngee Ann City.
A spokesman from The Consumers Association of Singapore (CASE) said that CASE does not oversee investment related complains and wine investment is also not regulated by the Monetary Authority of Singapore (MAS). One local law firm has been approached by about 20 investors on Monday.
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