This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our
Update by user Jan 24
I wrote before that I thought PT was a scam company and now I have come to the definite conclusion that this is the case. I did put the fact to the receptionist who answered the phone recently at PT and he said he didn't know whether PT was a scam company or not!There are two companies that I know of that help with scammers, one is Reclaws International Ltd based in the USA (they have experience already with PT) and Payback Ltd based in Israel (these as far as I can see have no experience with PT).
Payback ltd though want 10% up front and then will take 5% of any moneys recovered. It is a lot to pay upfront without knowing what the outcome will be. Reclaws also want something up front but not as much as Payback Ltd but then will take 10% of any monies recovered. You can see reviews of Payback Ltd on the Trust Pilot website and to their credit if there is a negative review on Payback they will respond.
I cannot recommend these companies because of lack of knowledge and experience (they may be fine) you will have to make your own decision based on what you read etc. Payback have a lot of experience with trading platform scams and bit coin but nothing in respect of Pacific Tycoon as far as I can see.I feel embarrassed at being scammed by PT but I will not just give up without at least some of a fight.
Update by user Jan 16
Please see e-mail sent to Pacific Tycoon about a week ago which to date has not been responded to. I now consider this to be a scam company although I did suspect this for a few years but did not like to say so without enough evidence.
Yesterday 15th Jan 2020 I rang but could only speak to the receptionist and she could not put me through to either Buy Back, Jack Lam or Ted Mallory. She said they were working on my case. I put it to the receptionist that I considered PT a scam company.Dear Ted, Jack, Caroline and Carl Ye,I am sorry to say that it is my considered opinion that after two years of studying Pacific Tycoon that my suspicions of Pacific Tycoon being a scam company has been confirmed. I am NOT saying that it is definitely a scam but this is my considered opinion.
I hope subsequent events will prove me wrong! The definition of a scam is shown above i.e. an illegal way of making money especially by tricking people. The tricking part here is the fact that promises to repay the original investment are not intended to be honoured or at least to be delayed as long as possible..
Some of the reasons for my conclusions are given below.1) The financial adviser Mark Champion of Rock Capital who put me into this cannot be contacted and has washed his hands of the whole thing. I have already looked at the possibility of suing him for bad advice.2) Over 300 folk on the internet claim Pacific Tycoon is a scam, I can’t help thinking that not all 300 can be wrong.3) Since July 2019 I have sent a number of e-mails to Ted Mallory copying in others and I have not had one single response. This to me raises a serious red flag.4) I was told to wait a whole year before I could be reimbursed and now after 15 months I have not been given any idea as to when this will happen.There are other reasons also which I shall not go into at present but the above reasons should be sufficient for you to see where I am coming from.I am sorry to say that it has come to this but I do believe I have been as fair as I possibly can to Pacific Tycoon.You have not responded to my e-mails hitherto and I hope there will be a response to this one but again if there is none which has been the case since July 2019, this will have the effect of further confirming my suspicions. In the public domain I have registered my disappointment at the time the refund has taken to be honoured and have never said that you were a scam even though I did have suspicions.I now intend to take the following actions.1) Take legal action.
I have already spoken to lawyers who incidentally have come to the same conclusion as myself. Yes, this will cost me but at least I might recover some of the losses incurred.2) Some of my experiences so far have been put in the public domain, this situation will now be considerably widened.I am sorry that this senario has come to this but I feel I have no alternative. If Pacific Tycoon is not a scam then no doubt you will give me a speedy reply complete with refund of monies invested or at least a date when this will happen.Please note that any reply you give will be put in the public domain as will this e-mail to you. I will wait at least a week before this is done just in case a favourable response is given.Please note the scriptural principles outlined below, also to be put in the public domain.I am sending this e-mail to at least four of the staff of Pacific Tycoon and surely I should be able to expect at least one e-mail reply from ONE of you especially considering the seriousness of the content.Kind regards,PS A scammer may feel very clever having duped folk out of their hard earned cash but it will never pay in the end.
It is a well established principle that whatever a person sows that shall that person reap. Remember also that even if you gain the whole world it will do no good in the long run if by doing so you lose your own soul.
This life is not everything, there is an eternity to face and a judgement to come. It is appointed unto men once to die and after this the judgement.I would much rather be the one who has been scammed than the scammer, any day!
Update by user Nov 26, 2019
I have just e-mailed PT and made an offer i.e I would accept a refund for 4 containers only and give them one meaning I would lose to them a whole container. We would then call the whole thing quits.
That means I would be giving them $4,100 but on the plus side if this is acceptable the whole scenario will be at an end. I will post again how things go and what reply is given, if any.
Update by user Nov 26, 2019
Update as of 26th November 2019. I still have received no refund and phoned today as to why the containers were still earning some money (very little I might add) seeing as how I sent the buy back request in around September 2018.
The buy back guy said he would e-mail me with an answer.I have to add in their favour that the buy back guy was very polite and at least he was willing to speak to me. With regard to Mark Champion of Rock Capital who originally advised me re PT I can't even get hold of him.
When I did speak to him months ago he just said "I can't help you" and I haven't been able to contact him since. I am really praying about this and will keep you updated of future developments.
Original review posted by user Jan 10, 2019
I purchased 5 containers and was disappointed at being told a having to wait a year until a refund would be due and quoted in gist what others had said on this site. I even contacted a lawyer who said that in their opinion I would not be paid even when September 2019 came. Anyhow PT sent me an e-mail asking them to ring me and a polite Chinese lass spoke to me and by the end assured me that when Sept 2019 came I would be paid and not to worry. I decided to believe her and so am not taking any more action until September if no refund is forthcoming. Also they sent me this response which I quote.
Regarding your concern, please refer to this Article of the Leasing contract stating:
Article 12. Termination.
12.2 Container Owner acknowledges and agrees that a notice given under clause 12.1 will not wholly terminate this Lease until all subleases Company has entered into for the Containers as at the date of the notice are terminated.
12.3 The notice to terminate will take effect in respect of each Container on the later of the following dates:
(a) one month from the date of the notice;
(b) where a Container is subject to a sublease on the date calculated under (a), the date on which the sublease terminates. The Parties intend that this Lease may terminate on different dates for individual Containers if there is more than one sublease of the Containers.
If you wish to sell the containers, please follow the procedure describes in the leasing contract.
Please note the containers will have to be off-hire for the sale to be executed.
Buy Back Manager
Due to the massive increase in container demand in China with still only 24 hours in one day, we will respond to your enquiries by telephone.
This will ensure you receive a timely and personal response.
Thank you for your co-operation.
So in gist you have to wait until all subleases have finished and this could take some time. So in actual fact according to the terms of the lease they have not broken any contract and there might be a significant waiting time which in my case will be a year.
Again when speaking to them on the phone I have always found them helpful and courteous.
I will keep you informed of developments and particularly when September 2019 comes.
Product or Service Mentioned: Pacific Tycoon Customer Care.
Reason of review: Problems with payment.
Location: Swindon, England