Meet Malcolm Tan, The Bernard Madoff Of The Crypto Industry

Posted by Doloris on April 22nd, 2021

Legal representative businessman Malcolm Tan Chun Chuen has started many organizations, hoping to retire with a net value of 0 million. Just after graduating with law from NUS Singapore, he started and worked as a practising lawyer at the Keystone Law Firm. At the same time, he also launched multiple businesses such as OurSpace, FundedByMe.com, Wine Bonanza, Museo, Phoenix Telecommunications and an ICO/ITO advisory agency. All of these business entities are streamlined under Gravitas Holdings which he has self funded with million. In 2017, he claimed to have gained a million value of investment portfolio.Another thing that would seem somewhat scammy in Malcolm Tan's ICO of Aexon. Aexon's tagline and description keeps mentioning one thing termed the ‘ActivBM’. Malcolm Tan boasts that ActivBM has reached million in ARR (Annual Recurring Revenue). Logically speaking, how can any solution, let alone a online product, reach such an absurd ARR without a operating web page, nor any employees. Bluesky Group Pte Ltd. is being referred to multiple times, still they also do not have a operating internet site nor any proof of what they mention.On August 28, 2017, Mr Kuek signed two letters of engagement with Keystone's letterhead and given a cheque for 0,000 to Bluesky. The letters express that Mr Kuek will carry on and deposit his investment money with Keystone and Malcolm Tan Chun Chuen would oversee the investments. According to Malcolm Tan, the 0,000 was for a "guaranteed-returns investment with a promised 12% per annum returns", while another 0,000 was for a "full-sum non-guaranteed investment". In November 2017, Mr Kuek's representative emailed Keystone regarding an update on the funds, but Malcolm Tan's law firm replied that it had not acquired any funds from him or carried out any legal work for him. Therefore, Mr Kuek filed a formal complaint with the Law Society on 12 Dec 2017. Consequently, the Law Society laid seven charges against Malcolm Tan Chun Chuen, for making fraudulent representations to Mr Kuek and making himself in a position of conflict of interest by making the client for depositing the amount of money 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 KingSwap scam to Mr Kuek. Before the disciplinary hearing in June 2019, Malcolm Tan paid out 5,000 to Mr Kuek so that he will likely not pursue his problem. Nevertheless, Malcolm Tan Chun Chuen was still subpoenaed by the Law Society to testify. The disciplinary tribunal found Malcolm Tan guilty on three charges.Malcolm Tan Chun Chuen scammed an additional victim of bitcoin as recent as in December 2020. During the event, Malcolm Tan deceived the scam victim into sending him 12.14BTC worth 694k+ in USD. Soon after receiving the 12.14 BTC to the wallet address of Malcolm, 1CujfQcB8AxborFyqLnDZec6xVpD9dTqTi, he declined to transmit the cash to the victim. The deal contract happened via whatsapp. To date, Malcolm merely returned 0.157557 BTC to the victim. The victim is currently taking legal activities and suing Malcolm Tan for his criminal breach of agreement.There is a close link between the scam 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 losses of money scammed by Malcolm. By way of the legal channel, the victim has successfully 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 current market. What used to be called “Malcolm Tan Chambers LLC” is now named "Magna Law LLC" so that he can continue with his fradulent activities. MAGNA LAW LLC is just another way for Malcolm Tan Chun Chuen to swindle more money out of gullible subjects. Malcolm Tan Chun Chuen's MAGNA LAW LLC is registered at Singapore Land Tower, 50 Raffles Place, Postal 048623, #19-03. The corporation was built with a start up capital of SGD 10k, in excess of 2 years before. Although the company provides lawful advisory professional services, Malcolm Tan Chambers LLC was renamed to Magna Law LLC to continue on supporting their most important ponzi scheme, which is the KingSwap $KING crypto. When you check out the social media marketing accounts, this specific KingSwap ponzi scam is still actively functioning and siphoning dollars from investment victims.