Successful recovery from famous shipping container Ponzi scheme: Pacific Tycoon and Davenport Laroche.

Based in Hong Kong, Pacific Tycoon offered an investment opportunity that had the interests of many investors. The company allegedly offered a 12% return upon investing in shipping containers.

To describe in further detail, you own a shipping container purchased for approximately $3800~4000, and the company arranges its transport so that others could lease it. The container has a unique tracking number, and the container’s ownership is yours.

This seemingly good investment opportunity got thousands of people across the globe putting their money in Pacific Tycoon or Davenport Laroche, only to find themselves being completely neglected by the company when they tried to sell their containers. As found in the investigation, the alleged CEO Ted Mallory is probably a fake alias. None of the employees and organization members seem to exist.

Pacific Tycoon accepts the investments via various shell companies registered in known tax havens, including but not limited to Bulgaria, Hong Kong, Cambodia, Poland, Moldova.

Investors report being given phony excuses when they demanded that their buyback to be honored according to the contract. The customer representatives from PT had the investors running in a maze, getting nowhere near what they hoped to get. The office address they display is reported to be a virtual office with another office used. The Government of Western Australia has issued a public report, projecting losses of nearly $800,000 alone in their country.

Pacific Tycoon does have an office in Hong Kong to meet clients, which is at a different address from the virtual address mentioned on their website. Pacific Tycoon staff picks up clients at the airport or hotel and takes them directly to that office. They always ask clients the exact date and time of their arrival and then travel from Vietnam to Hong Kong to fill the empty office. Investors of Pacific Tycoon who have visited their Hong Kong office have reported strange behavior of the office staff who pretended to work, empty files with no paperwork, and no calls ringing on their landline phones during their visit.

More than 70-80% of reviews about Pacific Tycoon on multiple evaluation platforms fall under the 1-star category, ringing alarms about their legitimacy. The 5-star reviews that are written follow a noticeable pattern, indicating that their reputation management team writes them. Many financial regulators have warned potential investors against investing with Pacific Tycoon.