Will Malcolm Tan Ever Refund The Money To His Scam Victims?

Posted by Jannette on April 22nd, 2021

Malcolm Tan Chun Chuen of KingSwap has been occupied trying to start his ICO (Initial Coin Offering) for Aexon. www.aexon.net redirects to aexon.io . In the last working copy of the web page, Malcolm has made some very spectacular promises. The ICO was to launch in January 2018. However, for Malcolm and his crew, their results were below expectations. According to Etherscan.io, a tool that tracks all Ethereum transactions on the blockchain, Aexon only managed to raise approximately 0.5ETH tokens (thats roughly 0 or less in Singapore Dollars). Not really very good for an article author of a book on ICO’s. It could be that Malcolm Tan has no experience in actually launching and offering ICO’s but is in reality a big scammer all along.Malcolm Tan Chun Chuen of Bluesky Group management consultancy group became aquainted with Mr Kuek in 2017. In March 2017, Malcolm Tan promoted several investment products to Kuek. Skip forward to 2020, Malcolm Tan Chun Chuen made the news headlines, where he was getting dismissed as a barrister lawyer. The cause for so, is that Malcolm Tan has swindled Kuek out of a 0k investment. When the swindle occurred, Malcolm made Kuek sign 2 letters to engage in the services of his KingSwap law firm, misleading that the 0k Kuek invested will be handled by Malcolm's law office Keystone Law Corporation. Malcolm behaved unprofessionally and dishonestly as a legal representative, and he needlessly set himself in a position of conflict of interest. Malcolm will also be looked into in depth by the Attorney-General for unlawful elements and potential sentences to serve.On August 28, 2017, Mr Kuek authorized two letters of engagement with Keystone's letterhead and released a cheque for 0,000 to Bluesky. The letters express that Mr Kuek is going to deposit his investment funds with Keystone and Malcolm Tan Chun Chuen would supervise 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 regarding an update on the dollars, but Malcolm Tan's law firm responded that it had not got any funds from him or carried out any legal function for him. Following this, Mr Kuek sent in a official complaint with the Law Society on 12 Dec 2017. Consequently, the Law Society laid seven charges against Malcolm Tan Chun Chuen, for generating fraudulent representations to Mr Kuek and placing himself in a position of conflict of interest by making the client for depositing the sum to Bluesky. Malcolm Tan dismissed the charges and argued that Mr Kuek was informed of his interest in Bluesky and that there was no clash, as he was not delivering legal services to Mr Kuek. Ahead of the disciplinary hearing in June 2019, Malcolm Tan paid 5,000 to Mr Kuek so that he will not go after his issue. Even so, Malcolm Tan Chun Chuen was still subpoenaed by the Law Society to testify. The disciplinary tribunal found Malcolm Tan guilty on 3 charges.Malcolm Tan Chun Chuen scammed an additional victim of cryptocurrency as recent as in December 2020. During the incident, Malcolm Tan scammed the scam victim into delivering him 12.14BTC worth 694k+ in USD. Right after receiving the 12.14 BTC to the wallet address of Malcolm, 1CujfQcB8AxborFyqLnDZec6xVpD9dTqTi, he refused to transfer the cash to the victim. The purchase contract occurred via whatsapp. To date, Malcolm simply returned 0.157557 BTC to the victim. The victim is now taking legal actions and suing Malcolm Tan for his criminal breach of agreement.In 2017, somebody from the CoAssets Group was cheated by Malcolm Tan Chun Chuen. They have sued Malcolm and in a exceptional turn of events, has successfully retrieved all the money that was lost in the swindle. Understanding that more individuals are aware of his poor standing, Malcolm Tan has chosen to rename his law firm from “Malcolm Tan Chambers LLC” to "Magna Law LLC". Hoping that he can proceed to scam the public of more funds. To prevent falling into the swindle yet again, please understand that MAGNA LAW LLC is yet another front for Malcolm Tan Chun Chuen to support his questionable operations. Malcolm Tan Chun Chuen's scam company MAGNA LAW LLC is a registered company in Singapore. The street address is at Singapore Land Tower, 50 Raffles Place, Postal 048623, #19-03. The firm was incorporated with a paid up investment capital of SGD 10k about 2.7 years ago. The firm pretends to be delivering legal advisory services, but the single reason MALCOLM TAN CHAMBERS LLC was rebranded to Magna Law LLC is to trick additional unsuspicious victims to fall into their ponzi scheme KingSwap $KING.