With the world slowly recovering from the binary options frauds, many new fraudulent practices are slowly coming into play. One among them is shipping container scams which is slowly gaining ground, two of the frontrunners among them being the Davenport Laroche Scam and the Pacific Tycoon Scam, both being designated as scam practices.
First Option Recovery details you about the Pacific Tycoon scam in this very particular article.
Shipping container companies offer investors the chance to buy a shipping container and despite being a worthy investment from time to time, it can be quite alarming to know the truth.
Pacific Tycoon Scam was brought out when it was a Hong Kong registered company and was one of the most popular shipping container investment companies in the world. They ask investors to buy containers for a price (approx $4000) and then lease them out to the shipping industry.
The investors can select a fixed-lease option where they would be promised a return of 12% or above. Their containers are insured and after a specific time frame, selectively 5 years, they can get their entire money by selling them for a profit plus the investment. The investment is often promoted as a high return low-risk option, and this is clearly a signal of a fake investment as such investments are actually not viable. Enough to prove the existence of the Pacific Tycoon Scam.
Pundits have said that the shipping container scams can be a Ponzi scam and suggests you to stay out of it. It is because unless the company gets more investors on board, it will be more difficult to get the profits in the long run. Soon after some time, the investor might realize that he has lost his money. Also, the scam regulatory authorities cannot do anything if anything goes wrong. They won’t be able to track down the fraudsters as the address given on the Pacific Tycoon scam is a fake one.
The address given there is LEVEL 11, ADMIRALTY CENTRE TOWER 2 18 HARCOURT ROAD, ADMIRALTY, HONG KONG, which doesn’t match up to the standards. Being an old company and having just 9 reviews (all 5 stars) clearly suggests that something is wrong. The company website hasn’t been updated since 2018, which signals that the company is not serious about the business that they are running. Another sign of the Pacific Tycoon Scam.
Also, the website states that containers are always in high demand but unfortunately the opposite is true. The truth is that there is limited demand and massive supply. The container industry is jeopardized by that very excess supply, where more than a million of them are currently sitting idle.
This clearly raises eyebrows about the Pacific Tycoon scam and how it would be able to manage a 12% investment over a time period of many years and how are they going to provide their customers with such returns.
Sounds dubious, doesn’t it? Till then, stay safe with your money.
What to do if you have been a victim of the Pacific Tycoon Scam?
The first thing is that you don’t need to worry about anything. You can always rely upon First Option Recovery to do the needful for you. We have been dealing with all kinds of financial frauds over a decade now, and with the best in house team of recovery specialists and attorneys spread across 22 countries, we are destined to solve all your financial queries at one go. Shipping container scams are brand new in the world of financial trades, although strictly they are a very risky investment because they are not proven yet, and you can lose your money at one go. As a fund recovery group, we have recovered money from other scams like Forex Scams and Crypto Scams as well. We suggest you to be aware of all the financial frauds that are still existent. Till then, it is highly suggested to stay safe and invest your money wisely.