Show reviews that mention
containers money investment scam returns phone income contract container emails
Filter review

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 FAQ

Verified Reviewer
i purchased 20 containers from pacific Tycoon. 1 year the return was good.After that there was a big decline.The people you talk to PT tell so much lies. They respond to e mails or follow up with the phone conversation.Iam unable to get my initial investment , 3 years...
View full review
3 comments
Anonymous
#1634587

I am planning to proceed with legal action against Pacific Tycoon in both Singapore and Hong Kong. If you wish to join then please contact me on rawhite54@yahoo.com

View more comments
ID
#1399208 Review #1399208 is a subjective opinion of poster.
Location
Gosford, New South Wales
Service
Pacific Tycoon Shipping Container Investment Service
Reason of review
Poor customer service
Loss
$70000
Preferred solution
Full refund
Is this is a real business or a scam Ponzi or other wise? I'll answer this a bit later. What you need to appreciate is they control the whole game and can do this because they put one of their own companies between you and the final renter. Firstly skimming off more...
View full review
ID
#1392098 Review #1392098 is a subjective opinion of poster.
Location
Leszno, Wielkopolskie
Service
Pacific Tycoon Shipping Container Investment Service
Reason of review
Problems with payment
Loss
$900000
Preferred solution
Company to honour their agreement
1.2
Details
Hello, I am also an investor since Jul 2015 in Pacific tycoon. At first they paid me returns for 3 months, then returns got smaller. I have had noting for three years, but waited till my buy back. My contract finished in July 2018, but they have now lost contact. I am...
View full review
1 comment
Anonymous
#1590714

Is this is a real business or a scam Ponzi or other wise? I'll answer this a bit later.

What you need to appreciate is they control the whole game and can do this because they put one of their own companies between you and the final renter. Firstly skimming off more and more of the revenue even before we get to the 70% / 30% split, usually after a year they skim of most of it. Secondly you won't get your buy back honoured I'm afraid see section 12 of your contract, they don't have to buy them until all containers are off contract and right from the outset they'll be at least one containers on a long contract. Thirdly they offer you a trade situation, which looks good on paper and gets them off the buy back clause full stop.

What revenues you get from your trade will last about 4 months, before you go down the same route of falling revenue, only this time you'll have a bunch of *** second hand containers nobody wants and PT won't care as they've no buy back to worry about and if you want to sale you'll have to go through clause 12 and on the loop goes! So is it real or a scam? Well it's both. PT do run a fleet of 400,000 containers which give them e legit operation and get the D&B rating.

However they've acquired the containers FOC from scamming you on something like a Ponzi scam, but they're clever because most Ponzi scam fall over when the income falls to less than the reruns they pay, PT are clever in by doing what I set out above burn the investment to nothing. Sorry if you've invested like I have and if not stay well away.

ID
#1389653 Review #1389653 is a subjective opinion of poster.
Location
Cambridge, England
Cons
  • Have been ripped off
Reason of review
Sam
Loss
$20500
Preferred solution
Full refund
1.0
Details
I had invested money with this company for 12% annual profit and after almost more than four years, they were supposed to return my money back. Then came Mr. Ivy Lee and offered me a proposal to buy 5 containers from Cambodia for the price of $2000 and sell them in...
View full review
1 comment
Anonymous
#1590719

Is this is a real business or a scam Ponzi or other wise? I'll answer this a bit later.

What you need to appreciate is they control the whole game and can do this because they put one of their own companies between you and the final renter. Firstly skimming off more and more of the revenue even before we get to the 70% / 30% split, usually after a year they skim of most of it. Secondly you won't get your buy back honoured I'm afraid see section 12 of your contract, they don't have to buy them until all containers are off contract and right from the outset they'll be at least one containers on a long contract. Thirdly they offer you a trade situation, which looks good on paper and gets them off the buy back clause full stop.

What revenues you get from your trade will last about 4 months, before you go down the same route of falling revenue, only this time you'll have a bunch of *** second hand containers nobody wants and PT won't care as they've no buy back to worry about and if you want to sale you'll have to go through clause 12 and on the loop goes! So is it real or a scam? Well it's both. PT do run a fleet of 400,000 containers which give them e legit operation and get the D&B rating.

However they've acquired the containers FOC from scamming you on something like a Ponzi scam, but they're clever because most Ponzi scam fall over when the income falls to less than the reruns they pay, PT are clever in by doing what I set out above burn the investment to nothing. Sorry if you've invested like I have and if not stay well away.

ID
#1385868 Review #1385868 is a subjective opinion of poster.
Location
Tanta, Al Gharbiyah

Update by user May 15, 2019

So here is the update. Of course I have not received any money back, I have been told that my containers are still on a sublease.

Davenport Laroche cannot tell me with whom, or for how long, or where they are..

(this is because the containers are imaginary).. I have...

View full review
6 comments
Anonymous
#1589366

is anyone going to court? Same happened with my containers...no invocie after a year.

I received some info from a company that can recover our money, but I don't trust anyone. a company called reclaws internatinal...after payment in advance they will work in your case, then they will sue davenport, then if they are successful you will receive the money...don't know if this is a scam too.

anyone can help? thanks,

View more comments
ID
#1370985 Review #1370985 is a subjective opinion of poster.
Location
Aylesbury, England
Cons
  • Thieves
  • Excuses
  • Money gone
They are very happy to take your money and then purchase shipping containers that you now own??? My experience was buying 5 containers and for 6 months received a good monthly income of around 20%. After that the income dropped to between 0% and 2% per month. Then when...
View full review
1 comment
Anonymous
#1622528

Pacific Tycoon or Davenport Laroche, they're one of the same although they'll claim they're completely separate, the long and short is they're no more than 21st Century Gangsters telling you to let them purchase containers on your behalf and leasing them out for your, promising high returns: either fixed 12% per year or fluctuating returns averaging 30% per year. Be cautious!!!

They will use pitches like China is the manufacturer of the world, there is huge demand for containers, that Pacific Tycoon and Davenport Laroche is part of some associations, that they are willing to meet up with you face to face if you travel to their Hong Kong head office, and that there are client references, etc. Below is the detailed description of this Ponzi Scam. This is how your investment will go, no matter how many containers you buy or for what price the returns for the first 12 to 15 months will peak at about 25% to 27%, then plateau. After about 18 months or so when your income will fall through the floor within months.

(If you went for the 12% guaranteed you'll still end up in the same boat as you're only guaranteed 12% if there is 12%) Ted will tell you they've moved along with the rail road project and are now in an area with no demand. I questioned him that surely the customer has to return them to the original place of hire? All he did was avoid any answer saying he'll see what he can do. Months will pass with no call and after chasing him he'll tell you he has a wonderful deal !!

Trade all all your container for what you paid for them and buy some more, plus an extra amount so he gets a some more money out of you. I know a few investors that have taken the trade only to find the revenues only last about 4 months max before you're back to no income, but as these containers are second hand there's no buy back option, which he won't tell you you'll loose when you do the deal. If you hold out thinking you'll be OK when the three years are up because you'll get your money back, you'll be disappointed. Firstly clause 12 in your contract...

the containers have to come off hire first. Pacific Tycoon will promise to get you an "Off Hire List", firstly there's no specified time frame for them to produce this. secondly you think when I do get the list as I'm not getting any income they can't be on hire.. wrong they'll be on contract for another 3 to 4 years on "As and When the Customs Uses Them Bases" Technically on hire, but no income, and the customer will never use them because they don't and never have existed!!

Pacific Tycoon will use their Lawyer in Brisbane, a Mr Robert Cunningham of Paxton- Hall to hide behind and delay this process. I am sure the lawyer can not of carried of all the compliances with the Proceeds of Crime regulation in regard their dealings with Pacific Tycoon, i.e verified ID checks, requiring passport and utility bill etc. Davenport Laroche is even worst with the buy back, they will just go off grid, not answer calls, if you turn off your caller ID they will, but only then a promise of a call back that you'll never get. If you Google Pacific Tycoon and any variant of scam, financial fraud, investment fraud, you get over a 100,000 results, for Davenport Laroche about 20,000.

What income you may be entitled to may also be difficult to get to your bank account. My bank has refused a number of payment as they don't come form Pacific Tycoon or Davenport Laroche, but some random account usually from Cambodia. I have had to take my contract to the bank to prove I'm not money laundering, which I'm sure Pacific Tycoon and Davenport Laroche are also probably guilty of. Pacific Tycoon and Davenport Laroche are a Ponzi Scheme based in Saigon, Vietnam.

Between them they have an office in HK, UK, Dubai, and Australia to meet clients. Pacific Tycoon case it is at a different address from the virtual address published on the website. Pacific Tycoon and Davenport Laroche staff pick up clients at the airport or hotel and take them to that office. They always ask clients the exact date and time they are coming to visit Hong Kong, so as to book flight tickets to get there from Vietnam and fill up the empty office.

There are also two part-time local Hong Kong staffs. Hong Kong staffs are innocent, staff from Vietnam have to tell them that they come from Shanghai office, and Hong Kong staffs believe that. There’s probably nobody in Shanghai. Pacific Tycoon and Davenport Laroche do have Hong Kong phone numbers (land and mobile) beginning with 852, which are just SIMs they bought in HK and bring the phone to Vietnam.

Salespeople call clients using voice-over-IP (Skype) to save costs and to hide where they are calling from, the phone calls I receive can come via, Switzerland, Russia, France or Germany, obviously routed through some discount carrier and to hide their location. Ted Mallory (just an alias) runs the boiler room in Vietnam, about 30 staffs. They get telesales leads from email campaign in Viral Planet, The Executive Club, Adalsa, Investor Guide, Galvan, etc. The biggest markets are UK and Australia.

Since the beginning of 2012 until now, revenue per month is about 1 million US Dollars, I estimate that after deducting costs, Ted makes about 400 to 500K per month for himself. Ted is paranoid about his identity. Staffs don't know his real name. All we know is he's an old British guy, tall, brownish blond.

He may also have a Filipino passport. The apartment to run the office is always rented under his Vietnamese mistress' name Nguyen Thi Ngoc Thanh. Moritzclear Research S.A. and its company bank accounts are under his Filipino female friend’s name Michell Empleo Dela Cruz.

Once your money is wired to the Taiwanese bank Shanghai Comercial and Savings Bank, it will then be wired to Michell’s account in Cambodia, and then transferred to her Vietnamese bank. Once the money comes to Vietnam, Michell will fly to this country to withdraw the cash. Thanh will escort her all the way to the banks, and take the money back to the boiler room office. As a rule, client leads from USA, France, China (including Hong Kong), Vietnam, and a few other countries are immediately taken off the list.

Regarding USA and France, Ted is scared off because there were official warnings against Pacific Tycoon and Davenport Laroche; regarding China and Vietnam, he is smart enough not to create any noise in the local market, so that the police don't pay attention. If a client has British nationality, but live and work in Hong Kong, he'll be taken off the list, because Ted doesn't want him to visit the HK office randomly and finds nobody. In addition, clients are told not to send and receive funds from a US bank account, regardless of his/her nationality. A powerful sales pitch is to tell potential buyers to contact client references; i.e.

those who already invested in Pacific Tycoon and Davenport Laroche, for opinions. In total, there are only 10 client references, who are victims themselves. They are kept happy, receive their returns from this scheme, and they are paid a flat fee each time someone agrees to buy after emailing/talking to them. Another sales tool is to mention that you will receive container ownership certificate, with a container number (BIC code).

Well, you may want to go into this link and check if the last digit is correct: http://www.bic-code.org/calculate-the-check-digit-online.html. A client told me he checked and the last digit doesn’t match, or that further investigation about the correct code shows that the container doesn’t belong to PT. Anyway, I have seen a junior staff printing out a lot fake ownership certificates in the Vietnam office, from a template file. All she needed to do is to insert the details like numbers and owners and then print them out.

Another tool to convince clients of Pacific Tycoon is to mention that it is a member of Hong Kong Shipowners Association and Container Owners Association; and that is is ranked platinum by Dun & Bradstreet. The truth is, it is only listed as an associate member, NOT full member, in HK Shipowners Association and Container Owners Association by paying those websites a fee. The same apply for Dun & Bradstreet website, it paid that website for the platinum ranking thing. On the other hand, one should question why this company is not listed in The Institute of International Container Lessor: http://www.iicl.org/about/members.cfm.

Another way to be extremely cautious is how this company is created: _Parent company Moritzclear Research S.A. was incorporated in Belize _Pacific Tycoon and Davenport Laroche registered in Hong Kong, contracts with clients under Singapore law _The bank to receive clients’ money is in Taiwan _Website registered in The Philippines: http://www.showsiteinfo.us/sites/pacifictycoon.com (scroll down to About Site, click on the tab Whois) In Vietnam, Pacific Tycoon and Davenport Laroche advertises job vacancies under various fictitious names (San Severino Holdings, Cloisters House, DataFlow, etc.), since the company itself doesn't have any business registration, and staffs don't have any real labour contracts with the company. In February 2012, Vietnamese police raided Pacific Tycoon and Davenport Laroche office in district 4, but then were bribed to ignore Pacific Tycoon and Davenport Laroche. I think it was only the poor local policemen who raided, not police at higher level like Economic Police or anything like that.

It is important to note that Ted Mallory has been hiring an IT company to *** and bring down websites with bad publicity about Pacific Tycoon and Davenport Laroche, and he successfully brought down www.absoluteinvestor.co.uk and www.boiler-room.orgs. When it s impossible to bring down a website, Pacific Tycoon lets its lawyer a Mr Robert Cunningham of Paxton- Hall to contact the investment forum requesting comments to be removed, saying it is libel. Thus, many comments about the truth of Pacific Tycoon and Davenport Laroche by ex-employees on, for example, The Motley Fool were removed. My reply to any accusation of threat of liable will be sue me then , to do so they will have to prove in court that what I said is liable, to do so, one Ted Malory will have to give evidence and prove he is who he says he is, and the only argument to disprove the liable is to prove the business is genuine, no of which they can or will do!!

To re-affirm that Pacific Tycoon and Davenport Laroche are a Ponzi Scheme. They will keep perpetrating this scam, praying on the weak and the innocent unless forced to stop by making as many people as aware as possible.

ID
#1364929 Review #1364929 is a subjective opinion of poster.
Location
Brisbane, Queensland
Reason of review
Not as described/ advertised
Loss
$30000
Preferred solution
Full refund

Pacific Tycoon - No income for many months

Warning Don't invest in PT they don't give you what they say. They will keep asking buy more containers and selling the old one. If make money they take over 50% What a disappoinment!!!!!!!
View full review
ID
#1348899 Review #1348899 is a subjective opinion of poster.
Service
London And London Customer Care
1.0
Details
I bought 3 containers with pacific tycoon but since last 2 years i am not getting any profit and i am telling them to sell it for me and reimburse my money but they dont take any action can any one help me how to get my money back I m really fad up with this scam...
View full review
1 comment
Anonymous
#1561269

The same thing has happened to me. I have £15k invested.

For the first 18 months I had brilliant returns. This has been followed by no income received whatsoever for over 2 years. I tried to sell back at 1/2 price. Got all paperwork agreed but nothing happened.

Endless emails, phone calls & emails have all been useless. I WOULD ADVISE ANYONE NOT TO INVEST IN THIS COMPANY.

ID
#1345944 Review #1345944 is a subjective opinion of poster.
Service
Pacific Tycoon Investment Service
Reason of review
Problems with payment
And said my container was "caught up in Yemen" and i would have to pay $500 in future earnings for another two containers because they can't get it out of YEMEN. What should i do? This reeks of Scam and i feel gutted that this feels like they are lying to me and...
View full review
2 comments
Marrio
#1550807

I received the same email and what is the main point anyway that if followed this option, buy more containers and trade in the existing containers, and yet you will no longer own these containers? No ownership, then what are we invested?

View more comments
ID
#1337497 Review #1337497 is a subjective opinion of poster.
1.0
Details

Update by user Sep 03, 2018

Like many others I have also been ripped off by these SWINES at Pacific Tycoon. Personally I have done the following, as I wish to put these *** behind bars and out of business. a) Write to the "Business Crime Section" of the Hong Kong Police at the following address :...

View full review
1 comment
Anonymous
#1547542

Yes total Scamers.. Lost money don't reply ..

I have been advised by am International law firm that this company is a total lie and that their are NO containers.. Total scam we need to all get together and put 1 BIG legal case through..

ID
#1320951 Review #1320951 is a subjective opinion of poster.
Cons
  • Have not paid me on time
  • Being ripped off
  • Have been ripped off
Reason of review
Problems with payment
Loss
$30000
Preferred solution
Full refund

Pacific Tycoon - A BIG CON

Over a period of a few years i have purchased 20 containers from Pacific Tycoon, there were done in blocks of 5 at a time (cost for the containers 4,200 US each) at first the returns were very good reaching upto 800 pounds, but then comes the scam first they get in touch and say they have containers for sale at low prices, this is to draw you in, however if you dont purchase more units then your returns drop month by month untill like myself im know reciving around 125 pounds a month for rental of 20 containers, when i enquired they said the were in the wrong location, which they have been now for nearly 2 years, so next step i contacted them to tell them to sell again they are in a bad location and it will take time to bring them back? however they say i can sell part of them but not till March 2019 which means well over the 3 year contract, but its like banging your head on the wall when you speak with them, also the always call they dont want to put things in emails because you could refere back to it, so i wait till March next year and see what will be the next excuse ????????
View full review
1 comment
Anonymous
#1554991

Lost £45,000 after initially good returns. Money stopped and only bemusing excuses why when I called HK.

I was an utter fool to invest with them. Return was £805 GB£ in May which was the last proper payment.

When I called and complained I received a further £200 my final payment. If I get a penny back, I will be amazed.

ID
#1310435 Review #1310435 is a subjective opinion of poster.
Reason of review
Poor customer service
1.3
Details
I invested with PT 4-Years ago, for the first 18-24 months very good, great monthly return rates and good PR contact. However after 24-months everything went downhill, constant monthly reductions in returns to now where monthly returns are nearly zero. I found out that...
View full review
6 comments
Anonymous
#1599443

Tycoon is a scam company and I would like to know if some one recover his money back or any advise to do it thank you

View more comments
ID
#1290626 Review #1290626 is a subjective opinion of poster.
Service
Pacific Tycoon Shipping Container Investment Service
Cons
  • Scam
Reason of review
Not as described/ advertised
Loss
$40000
Preferred solution
Total refund of the South America contact investment money as Pacific Tycoon have severely defaulted

Pacific Tycoon - Fraud investment

1.0
Details
Do not invest in Pacific Tycoon. Beware. I have lost all my money in 7 containers. No returns at all. They still send rental statements 3$ Monthly on 7 containers. I don’t know whether to laugh or cry. It is really a joke. Please don’t invest anything into Pacific Tycoon.
View full review
ID
#1262454 Review #1262454 is a subjective opinion of poster.
Service
Pacific Tycoon Investment Service
Reason of review
Poor customer service
My story is similar to others on blog, monthly payments nearly nothing and no agreement on buy back date. obviously a scam, We have to band together and get a class action going. too many of these jerks in the world getting away with it. My buy back date was Feb 2018...
View full review
1 comment
Anonymous
#1486863

I also purshased a unit 3 years ago. I realized after a few months that this was not a legit company.

After refusing to buy more units the returns were almost zero.

Now trying to get them to sell it, but I have no idea if they will do it and when. I wonder if this company can be sued.

ID
#1255029 Review #1255029 is a subjective opinion of poster.
Service
Pacific Tycoon Shipping Container Investment Service
Cons
  • Money gone
Reason of review
Not as described/ advertised
1.0
Details
I bought 2 containers in 2014, monthly income declined steeply since then, I insisted to keep my contract although they kept offering exchange with other containers, with a new contract, to improve income as they claim, until buy back time was due in September 2017...
View full review
1 comment
Anonymous
#1622587

Hi, my contract ended in September 2018 and I was told I would be refunded in September 2019, a whole year to wait. Come March 2019 could you please advise how things are going i.e if they have kept to their word. Thanks.

ID
#1253385 Review #1253385 is a subjective opinion of poster.
Service
Pacific Tycoon Customer Care
Reason of review
Return, Exchange or Cancellation Policy
Loss
$8200