If you have come across container investments, you must be already familiar with the Pacific Tycoon Scam. Pacific Tycoon is the next in line container scam among the numerous others. We advise you against investing in any kind of containers before any thorough research; know why here.
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What are Pacific Tycoon Scams?
Pacific Tycoon Scam came out in the open when it was a Hong-Kong registered company. Then, it was among the most reputable shipping container investment companies.
The investors were asked to buy containers for approximately $4000 and rent them to the shipping industry. They were asked to select a fixed-rent option guaranteeing a return of 12% or more. The containers come with a warranty, and after a specific period, approximately five years, the investors can get their total amount by selling them for a profit and also the investment.
These investments come under the high-return low-risk option, which raised a red flag of a fake investment. Investments like these are not applicable and point to Pacific Tycoon being a scam.
According to pundits, shipping container scams are potential Ponzi scams, and you advise staying away from them. The company has to get more investors on board to get more profits in the long run. The investors soon realize that they have lost their money to a scam.
The scam regulatory authorities then are left with no action to take since they cannot track the scammers as the address given is fake.
Is Pacific Tycoon a Scam?
The address given on the website is not up to mark. The company claims to be around for a long but has nine reviews, and all five stars suggest that something foul is at play. Furthermore, the website was last updated in 2018, pointing to the company’s negligence towards the business.
The website also states that containers are forever in high demand, but that’s not true. The demand for the container is quite limited and enormous. This excess supply of containers has jeopardized the industry, more than a million of which are sitting idle.
It raises suspicions about the Pacific Tycoon scam, how it would manage a 12% investment over the years, and how they give their customers such returns.
Pacific Tycoon raises enough eyebrows to consider a complete scam.
How does Pacific Tycoon Scam work?
The Pacific Tycoon Scam charade is pretty simple to pull. The idea here is to enter a growing industry by leasing high yield shipping containers to industries in Asia or anywhere else tax-free. First, you buy containers from underdeveloped countries for lower prices. After that, you hire a company like Pacific Tycoon to lease your containers for their clients. After a particular time gap, say 9-10 months, the containers arrive in China and are later sold at a profit. A small commission goes to the company, and the rest goes to you.
When you open the company website, you are greeted with an aesthetically pleasing design that can scam people into believing it is original. They attract investors with catchy advertisements followed by overly exaggerated fixed returns of 12% on the amount invested per year. In certain cases, it can shoot up to 24.13%, as it did last year.
According to them, the containers brought are all fully trackable, and everyone will be given full legal rights regarding the containers they are about to buy. Many of them are independent trackers in various countries who act as recipients of the container owners, and the money is transferred to the scammer’s account in those countries.
Most of the accounts belong to underdeveloped nations that have no association with the company.
Companies like these invest enormously in PR activity. They pay different blog owners to give fake reviews, stating how Pacific Tycoon helped them get their best investments and the likes. They also post fake reviews on forums regarding their company to win the trust of their customers. A deeper investigation may reveal how the company duped thousands of investors and how many lost their savings.
As a precaution, you must always do thorough research before diving into investing in containers or any such stuff. The idea here is to build up a shipping container empire and rake in it.
To sum it up, stay away from container investments as far as you can.
How do you spot red flags for Pacific Tycoon scams?
Low Reviews & References
Pacific Tycoon has a low ranking and terrible review that communicates real customer disappointment.
Examine the Returns
A yearly return of 12% raises questionable thoughts as it seems unusually high and distances apart from truth.
Deteriorated Value for Rates
Freight dupes mislead clients by advertising new assets and giving away devalued assets instead of the performance model.
False Company Website
Shipping Container providers often resemble reputable companies and known labels to attract more buyers.
Hypothetical Company Address
The official mailing address plays a crucial role, and fraudulent parties regularly add false addresses to cover their identity.
Depicts Fake Contact Details
A bulk of the container shipping scams operate with a bogus contact number located on their home page.
What to do if you have been a Victim of the Pacific Tycoon Scam?
Do not worry if you have been scammed by Pacific Tycoon Scam; you can always rely on Financial Fund Recovery to find your way through scam recoveries. We have dealt with all sorts of financial frauds over the years.
With dedicated experts and free consultation service, you can have the specialists analyze your case.
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- Financial Fund Recovery generally abides by a timeframe of one hundred twenty days and attempts at recovering funds earnestly.
Our best in-house team of recovery specialists and attorneys is spread across multiple countries. We can ease all your financial queries in one go.