Pacific Tycoon

ted mallory and caroline conti are primary culprits – Scam Avoid this is a scam This i see th as a scam do not buy Avoid Avoid No buyback Years leased out for next to nothing Fake fraud noi service never see it again money

Scam city avoid – No containers exist they are crooks and total bandits. Scum like this should be jailed. Hopefully the Law will catch up with them one day. See all the various on line reviews.

100% SCAM…..DO NOT INVEST! – Pacific Tycoon and it’s cousin company Davenport La Roche is a ponzi scheme. Like others here, I bought several thousand dollars worth of containers and was receiving excellent monthly returns for about 18 months and then it reduced to a trickle and now nothing. DO NOT INVEST in this scam company!

Pacific Tycoon is a scam – Pacific Tycoon has been operating for many years. It only keeps going because it still catches people out. DO NOT invest your hard earned money and give it to these parasites'. Someone knows who they really are so we must bring them to justice. Don't become their next victim. I can not advise you strongly enough. DON'T!!!

Pacific Tycoon SCAM – Hi. I would not trust this company as they are just a ponzi scheme and only pay back for 6 months, then stop payments all together. I wasted my money with this company and now it has been 8 years. Still they have not sold or contact me to sell or pay back my money. Would not invest $1 with pacific tycoon, davenport or laroche containers. All are scam.

Scam scam scam – New player to the Pacific Tycoon scam is Richard Healy of Oldham Li and Nie based in Hong Kong apparently their solicitor, who is also a scum bag. Need to say nothing more except SCAM

Nothing but a money laundering scam – Apparently a once reputable company that at some stage has gone over to the "dark side". Don't under any circumstances invest with them or you will never see your money again. Very elaborate set up, very convincing, but nothing but a fraud.

SCAM Alert Stay Away – I have had the same experience as every other person. I asked for my containers to be sold as per contract. But they have not been able to find buyers. I am receiving 0.01% return every month and no reply to any of my emails. I would stay away from this company.

All promises, just a rip-off company ! – Bought 20 containers with the promise they would buy them back after 3 years and I believed that, stupid me, lots of excuses etc etc don’t “ invest “ in this company !! Be warned

Scammers – Bought 20 containers got payment for about 7 month and then they “ lost “ my containers ! Supplied me with container numbers that didn’t excist ( there is a international container library) don’t throw your money at them, they are scammers !

Scammers, liars, do not invest with Pacific Tycoon – This company was recommended to us, so we invested and purchased 36 containers, it started out great, after about 9 months our payments dropped dramatically and stopped altogether. We called and called only to given a pack of lies, time and again. We should have pulled out then and there but gave them the benefit of doubt, worst mistake, we… Read more

reinvested in selling and purchasing more containers., and again only to told more lies. Finally we sold and purchased containers that were coming from Panema, to be sold in China, we were told this transaction would take 6 months, well it has now been nearly 3 years.

[Name Removed], do not trust her!!!! We have been told so many lies, that 12 containers were caught in Yenom port, but you guessed it, if we gave some More money they would be released, they certainly got a mouthful from Me and told in no uncertain times would they be getting any more money. We have since received a call when COVID hit and have not has any contact since. I am now contacting a recovery company in Hong Kong to hopefully get some of our funds back, stay away from these scammers.

Dont waste your money – In 2014, I purchased 4 containers, for $18KAust, I got 2 payments for $1,100, and one payment for $550, and have not had any payment made to me since September 2014, in November 2019, I said I want to sell my 4 containers back to Pacific Tycoon, as per the agreement, after 3 years, you can get all your money back, then I got told you have to wait… Read more

till December 2019, so I call them in December 2019, we need a couple of months to get your containers back to the company, to re-sell them, so I call them in February 2020, nothing we can do as we have this CORONAVIRUS.

The containers don’t exist – I looked into it looked too good to be true. I searched for photos of shipping ports, searched everywhere, never saw a single P. Tycoon container. They do not exist.

PONZI Scheme – Do not touch this company unless you want to loose money as i have, will put you into a false sense of trusting them and get you to reinvest.........then they with systematically reduce income to the point of zero ! Their contracts are 99% in favor of the company.

I Have Seen For Myself – About 5 years ago we decided to look into Pacific Tycoon as an investment and after phoning them we decided to go to their Hong Kong office (at their suggestion) to see the operation for ourselves. We were met by a Chinese lady who told us that the chap we were meant to be meeting was "travelling". Arriving at the office, we were led through a… Read more

reception containing several bored looking youngsters with computers seated along tables. It was silent and they appeared to be doing nothing. We waited in the next office for several minutes before the Chinese lady came in with another chap. He gave us all the info but I noticed that as far as possible he was letting us do the talking. There was absolutely no activity going on in the office, no phones ringing, not even a filing cabinet in sight. The thing that did it for me was a single piece of headed paper on his desk, that was all there was. It was so obvious that the "office" was hurriedly set up to meet potential clients and we got the strong feeling that it could just as quickly disappear and we would be dealing with people who would also disappear, much like the chap we spoke to on the phone. I'm so glad we went to see for ourselves, we dodged a bullet there. Avoid at all costs. You only have to read other reviews to find out how they have scammed people. The lady phoned our hotel the next day to take us to tea at a posh hotel. Needless to say we told them that we wanted nothing more to do with them. I would hate anyone else to be sucked into their scam.

Scam company – I bought shipping containers through Pacific Tycoon - initially 5 new containers (2013) with great returns. They came to me with offers for 6 month old shipping containers with same returns but not the same guarantees the new containers had. I bought these containers (2014) which also had great returns. They offered me the opportunity to buy more… Read more

- I used the value of the 'bought new' containers to buy a larger number of older containers (2015) - then (funnily enough) the containers all lost their contracts and there was no income. They offered to transfer a batch of shipping containers to another company which has a large contract (only cost me a couple of grand to do) - I did - and same again - no income. I have requested (verbally and via email) for valuations of the shipping containers with intention to sell, initially they attempted to distracted me with 'we have potential contracts' but have since just ignored me entirely.

I still own the containers but have no ability to do anything with them. I have just over lost half the value of my investment. An another reviewer put it - the depreciation has been relevant.

Initially looks fantastic but you will be duped. AVOID at all costs.

Big scam – Pacific Tycoon run a container rental scam that looks very good on the outside but starts to dissolve rapidly after 18 months to 2 years. They contract to buy back your containers after 3 years but refuse to deliver on the promise. Avoid at all costs.

Pacific Tycoon trouble – This investment started out good with double-digit returns for about the first year however as time went by and possibly affected by a global downturn in container rates (my best guess) returns are now below 1%. My advice is to stay away from this outfit at all cost. The only saving grace, if you are already a holder of this product, is that you… Read more

can depreciate the containers at 10% per year.

If you are a holder of this product they will likely contact you with offers to move the containers to a so-called better location/port for a fee that will run into the thousands for the promise of better returns, my advice is to refuse these offers as it will likely be a case of throwing good money after bad. As it is Pacific Tycoon get 70% of the lease income generated so why don't they move the containers for improved returns - they stand to benefit the most!

It is highly unlikely that the lease returns will improve moving forward however if they do I will certainly update this review.

Also, other container clients have reported not receiving their incomes, this is due to Pacific Tycoon withholding payments to avoid transaction costs exceeding the income amount however they have not informed their clients of this action. Selling your 2nd hand containers back to Pacific Tycoon would likely result in a loss, therefore, consult your accountant as the ongoing depreciation versus a loss may be the better option?