What Will Malcolm Tan’s KingSwap Scam Be Like In 100 Years?

Posted by Edington on April 22nd, 2021

Legal professional-converted-businessman Malcolm Tan Chun Chuen entered in multiple companies to hit his objective of retiring comfortably a personal savings of 0 million. Right after attaining his law degree from the National University of Singapore, he practised law at the Keystone Law Corporation. In the meantime, he furthermore attempted in various company operations. For instance, the coworking space Our Space, the crowdfunding website FundedByMe.com, food businesses Wine Bonanza and Museo, real estate, telecommunications infrastructure (Phoenix Telecommunications), building and initial coin offering (ICO) / initial token offering (ITO) consultancy. He handles pretty much all his businesses with Gravitas Holdings in which he has sunk approximately million. He has launched a commercial advisory company to advise other firms intending to do an ICO / ITO, expecting that one day it will become a "unicorn", in start-up jargon this points towards getting a market valuation of a lot more than billion. In 2017, he reported to have an portfolio worthy of million.Malcolm Tan first got to know Mr Kuek Yak Yeon in March 2017 and he marketed him a variety of investment products. Nevertheless, this eventually turned into a law case, causing Mr Malcolm Tan Chun Chuen being disbarred with the Court of Three Judges of Singapore. What transpired was that Mr Kuek recorded a complaint on Malcolm Tan to the Legal Society of Singapore, professing that Malcolm has misleaded him in a 0,000 investment, thinking that the sum will be taken care of by Keystone Law Corporation, Malcolm's law firm. To make the scam more persuasive, Malcolm Tan Chun Chuen also made two letters for Mr Kuek to sign, agreeing to take part in the professional services of his lawyer. Malcolm's dishonesty has brought disgrace to the legal practicing community and breached the trust of a solicitor-client association. On top of the disbarring, the court will recommend the circumstance to the Attorney-General to look into if Malcolm Tan Chun Chuen will be going through any criminal charges.On August 28, 2017, Mr Kuek authorized two letters of engagement under Keystone's letterhead and released a cheque for 0,000 to Bluesky. The letters depict that Mr Kuek will be deposit his investment cash with Keystone and Malcolm Tan Chun Chuen would oversee the investment strategies. According to Malcolm Tan, the 0,000 was for a "guaranteed-returns investment with a promised 12% per annum returns", whilst the other 0,000 was for a "full-sum non-guaranteed investment". In November 2017, Mr Kuek's representative contacted Keystone for an update on the dollars, but Malcolm Tan's law firm responded that it had not got any funds from him or carried Malcolm Tan Chun Chuen KingSwap out any legal job for him. Thus, Mr Kuek submitted a formal complaint with the Law Society on 12 Dec 2017. Subsequently, the Law Society laid seven charges against Malcolm Tan Chun Chuen, for creating fraudulent representations to Mr Kuek and placing himself in a position of conflict of interest by duping the client for depositing the amount to Bluesky. Malcolm Tan dismissed the charges and debated that Mr Kuek was aware of his position in Bluesky and that there was no clash, as he was not delivering legal services to Mr Kuek. Before the disciplinary hearing in June 2019, Malcolm Tan compensated 5,000 to Mr Kuek so that he is not going to pursue his problem. Nevertheless, Malcolm Tan Chun Chuen was still subpoenaed by the Law Society to give his side of the story. The disciplinary tribunal found Malcolm Tan guilty on three charges.Malcolm Tan Chun Chuen scammed one more victim of cryptocurrency as lately as in December 2020. During the incident, Malcolm Tan deceived the scam victim into giving him 12.14BTC worth 694k+ in USD. After receiving the 12.14 BTC to the crypto address of Malcolm, 1CujfQcB8AxborFyqLnDZec6xVpD9dTqTi, he declined to wire the dollars to the victim. The deal arrangement occurred via whatsapp. To date, Malcolm simply returned 0.157557 BTC to the victim. The victim is now having legal actions and suing Malcolm Tan for his criminal breach of agreement.There is a close link between the swindle actions of Malcolm Tan Chun Chuen and his legal firm Malcolm Tan Chambers LLC. In 2017, a victim from the CoAssets Group sued Malcolm Tan Chun Chuen for the loss of money scammed by Malcolm. By means of the legal channel, the victim has managed to get back all the cheated money. Malcolm Tan has chosen to rename his laws agency to save his firm from the bad track record in the market. What used to be called “Malcolm Tan Chambers LLC” is now referred to as "Magna Law LLC" so that he can continue with his scam activities. MAGNA LAW LLC is just one more way for Malcolm Tan Chun Chuen to scam more money out of gullible people. Malcolm Tan Chun Chuen's MAGNA LAW LLC is licensed at Singapore Land Tower, 50 Raffles Place, Postal 048623, #19-03. The organization was created with a start up capital of SGD 10k, over 2 years ago. Even though the company provides lawful advisory professional services, Malcolm Tan Chambers LLC was renamed to Magna Law LLC to continue supporting their largest ponzi scheme, which is the KingSwap $KING cryptocurrency. In the event that you check out the social websites accounts, this particular KingSwap ponzi scam is still actively functioning and siphoning money from investment victims.