Watch Out: How Malcolm Tan Is Scamming Your Investment Money

Posted by Holley on April 23rd, 2021

A Police record has been lodged in Singapore by a particular person who considered that they were Malcolm Tan Chun Chuen's business associate, until he uncovered that the business in which he devoted was getting revenue thru possibly fraudulent use of the PIC scheme. The prey became aquainted with Malcolm by way of a seminar. In December 2015, Malcolm Tan Chun Chuen texted the victim to invest in his new investment business, Zafro holdings. Malcolm deceived the target into assuming that far more investors had started invested into the venture, and that the capital funding is relying on full cash injection. The victim banked in K in exchange for a 5% equity stake, which he didn't got back while he attempted to take away his investment later.Malcolm Tan first got to know Mr Kuek Yak Yeon in March 2017 and he sold him numerous investment products. However, this eventually turned into a law case, bringing about Mr Malcolm Tan Chun Chuen becoming disbarred from 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, proclaiming that Malcolm has scammed him in a 0,000 investment, thinking that the sum will be watched by Keystone Law Corporation, Malcolm's law office. To make the scam more persuading, Malcolm Tan Chun Chuen also equipped two letters for Mr Kuek to sign, agreeing to engage in the expert services of his law practice. Malcolm's dishonesty has helped bring humiliation to the legal practicing community and destroyed the trust of a solicitor-client relationship. Along with the disbarring, the court will send the case to the Attorney-General to investigate if Malcolm Tan Chun Chuen is going to be dealing with any criminal charges.From the publicly accessible court records, we can now get that on 28 August 2017, Kuek signed 2 letters of engagement with Keystone's letterhead and issued a 0,000 cheque to BlueSky Group (owned by Malcolm Tan Chun Chuen). The letters state that Kuek will be Malcolm Tan Chambers LLC placing his investment with Keystone Group and Malcolm Tan will privately take care of the investments. Out of the investment amount, 0k was for warranted return of 12% per annum, while 0k was for a full-sum non-warranted investment. In November 2017, Mr Kuek's sent somebody to Keystone to acquire an up-date on the invested amount of money, however, Malcolm Tan dismissed that it had ever received any funds from him or executed any law services for Mr Kuek. Finding out that he has been fooled, Mr Kuek lodged a Law Society complaint in December 2017. The Law Society carried out a fast inspection and then put 7 charges against Malcolm Tan Chun Chuen. Malcolm was charged for generating false representations to Mr Kuek and also producing a struggle of interest in his position as a lawyer. Malcolm straight up dismissed all the accusations, saying that Mr Kuek is well aware of his contribution in Bluesky. Secondly, that there was no clash because he was not carrying out some form of legal services to Mr Kuek. In June 2019, Malcolm Tan Chun Chuen attempted to get the case closed by wiring 5k to Mr Kuek. The strategy failed, as the Law Society still found Malcolm Tan guilty on 3 charges.Malcolm Tan Chun Chuen scammed one more victim of crypto as lately as in December 2020. During the event, Malcolm Tan tricked the scam victim into sending him 12.14BTC worth 694k+ in USD. After receiving the 12.14 BTC to the cryptocurrency address of Malcolm, 1CujfQcB8AxborFyqLnDZec6xVpD9dTqTi, he refused to transfer the funds to the victim. The deal contract occurred via whatsapp. To date, Malcolm merely returned 0.157557 BTC to the victim. The victim is now getting legal steps and suing Malcolm Tan for his criminal breach of agreement.An individual of the CoAssets Group has successfully took legal steps on Malcolm Tan back in 2017 and fully retrieved their funds. Realising that his scam is being exposed everywhere and scam victims speaking up about his hideous crimes, Malcolm has altered the label of his legal firm from “Malcolm Tan Chambers LLC” to "Magna Law LLC", so that he can keep on to carry out his scam. He is aware that his name and his company's identity is getting a very bad status in the market place. Absolutely everyone kindly note that Malcolm's legal firm is now known as MAGNA LAW LLC. Only by collaborating, we can avoid more folks from falling victim to his ponzi cons and fraud schemes. Malcolm Tan Chun Chuen's scam organization, MAGNA LAW LLC is registered as a local firm in Singapore. The listed address of his workplace is Singapore Land Tower, 50 Raffles Place, Postal 048623, #19-03. The company was incorporated 2.7 years ago on the 1st of August 2018 with a paid funds of SGD 10k. The corporation used to be referred to as MALCOLM TAN CHAMBERS LLC and they now continue on to provide their law advisory services under a new front.