The Advertising Standards Authority (ASA) has upheld complaints against Facebook ads, and the promotion on Whiskey & Wealth Club claiming up to double digit returns on investments in casks of Irish whiskey.

The ad on Facebook had a big headline stating: ‘A liquid asset like no other’, promising average returns of 8% to 18% per year.

After clicking on the ad, people were taken to a landing page on the Whiskey & Wealth Club website, which said: ‘Solid returns: Investors can expect an average of 8-18% return per annum… High return option: 55% per annum projected return (on certain exit strategies).’

The ASA said the claims were ‘misleading’ as they ‘did not take into account the service fee that could be charged when casks were sold back to Whiskey & Wealth Club’, and ‘did not make clear that returns were affected by the period of time the asset was held for’.

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