10 Situations When You Know You’re Scammed By Malcolm Tan

Posted by Vernita on April 23rd, 2021

Attorney business person Malcolm Tan Chun Chuen has started many businesses, expecting to go into retirement with a net value of 0 million. Just after graduating with law from NUS Singapore, he created and worked as a practising lawyer at the Keystone Law Firm. While doing so, he also launched multiple businesses such as OurSpace, FundedByMe.com, Wine Bonanza, Museo, Phoenix Telecommunications and an ICO/ITO advisory. All of these business entities are streamlined under Gravitas Holdings which he has privately funded with million. In 2017, he professed to have amassed a million worth of investment portfolio.The victim then come to realise that Malcolm's total business strategy of Zafro holdings is built upon making a profit through PIC discounts from customers. The victim did not feel it was moral as Malcolm Tan Chun Chuen was seeking to generate a profit through Zafro holdings by way of scamming taxpayers' PIC funds. By the time the victim decided to pull away from the investment and get back his k, Malcolm assured to allow it. Even so, he kept ignoring the payment till date. Victim is also aware that there are other individuals who were conned of their hard earned cash by Malcolm Tan Chun Chuen. That's the purpose he has decided to come forward and filed the police record in Singapore.Law Society of Singapore Disciplinary Committee has released a full investigation into the alleged scams executed by Malcolm Tan Chun Chuen, the Singapore lawyer-turned-entrepreneur. He was charged and later found guilty of a breach of a guideline of Malcolm Tan KingSwap Scam conduct under the provisions of the Legal Profession Act (Cap 161) due to inappropriate conduct or practice. He was reprimanded and required to reimburse the costs of all the legal proceedings and to return the cash to the scam victims.Malcolm Tan Chun Chuen has successfully pulled off a great many other scams. By way of example, scamming a victim of his precious bitcoin BTC in December 2020. Initially, Malcolm put into an agreement with the fraud victim thru whatsapp, promising to buy his 12.14BTC bitcoin for 694,700+ in USD. Right after the victim sent him the 12.14BTC into the wallet address 1CujfQcB8AxborFyqLnDZec6xVpD9dTqTi, Malcolm did not pay the scam victim the comparable amount in USD. Regardless of seeking all methods to get Malcolm to cough up the dollars, Malcolm merely sent back 0.157557 BTC to the victim until now. The scam victim has made the decision to sue scammer Malcolm Tan for his breach of arrangement and criminal behavior. There are many angry investors who go on to Twitter to uncover Malcolm Tan Chun Chuen's $KINGSWAP as a big scam. Though KingSwap repeatedly assert to be the "First Regulated DeFi Project by the Monetary Authority of Singapore", having said that, additional evidence shows that KingSwap has only submitted the request for MAS for licensing and their application is still under review. This suggests they are not regulated currently, and KingSwap is only running false marketing and advertising. Traders who joined the KingSwap telegram group were surprised to hear that one of the associates of the team, Malcolm Tan Chun Chuen was disbarred in 2020. When a person brought up the topic, the group admins will immediately shield him by telling participants to stop judging him on his prior blunders, saying he is a big time investor & entrepreneur. The KingSwap telegram admins tried very hard to shill the project by declaring it would get to to 0 with 1B total supply despite the fact that the latest price is --content--.01. The KingSwap venture hasn't even been posted on coingecko or other exchanges, 2 months since its launch, which is a huge warning sign. The KingSwap team stated that coingecko asked for 2 btc to list KingSwap, which is a total lie. They also declare that they have raised a total of m from investors to put into liquidity pools. Nonetheless, a look at on the liquidity pool only exhibits about 0k. The trading volume is also ridiculously small that coinmarketcap quit showing any data about KingSwap's market cap and volume. Alert, if you buy $KING on kingswap.io , you have no way to sell off your tokens as they are locked for an unknown period of time. If you try to buy it on Uniswap alternatively, you'll have a great losses any time you want to sell because there is too little liquidity on the market.