9 Things Your Parents Warned You About Malcolm Tan’s Scam

Posted by Livers on April 23rd, 2021

Malcolm Tan Chun Chuen is a attorney who later on turned into a serial entrepreneur who started out a lot of companies. His aim is to earn a wealth of 0 million net worth to ensure that he can retire easily. Equipped with a laws college degree from the NUS, he worked well as a attorney at the Keystone Law Corporation for some moment. He found out that reaching his 0 million retirement goal is close to unattainable if he continues on to work for a salary, and so he started to invest and grow many companies. Our Space, a co-working space; FundedByMe.com, a crowdfunding software; Wine Bonanza, Museo, Phoenix Telecommunications, BlueSky Group and Gravitas Holdings are some of companies that he has set-up. Not too long ago, he also started to venture into ICO / ITO advisory and management services by creating a corporate advisory firm. By 2017, he has an approx . investment portfolio of million.Malcolm Tan Chun Chuen, who also owns a small business management consultancy termed Bluesky Group, met Mr Kuek in March 2017 and promoted various investment products to him. In 2020, news flash documented that Mr Malcolm Tan Chun Chuen is disbarred as a lawyer, for duping client Mr Kuek Yak Yeon on a 0,000 investment. The Court of Three Judges said the client, Mr Kuek had been steer into trusting that the 0,000 he invested would be supervised by Mr Malcolm Tan's law practice, Keystone Law Corporation. The court has uncovered that Mr Malcolm Tan had made Mr Kuek sign two letters to engage in the services of his law firm to fortify this belief. Chief Justice Sundaresh Menon, who delivered the verdict, condemns Mr Malcolm Tan Chun Chuen's dishonesty and violation of trust in how he addressed the solicitor-client relationship. Aside from disbarring Mr Malcolm, the court is going to refer the matter to the Attorney-General to investigate if there are any unlawful consequences.From the publicly accessible court papers, we can now comprehend that on 28 August 2017, Kuek signed 2 letters of engagement with Keystone's letterhead and after that issued a 0,000 cheque to BlueSky Group (owned by Malcolm Tan Chun Chuen). The letters say that Kuek will be depositing his investment with Keystone Group and Malcolm Tan will personally handle the investments. Out of the investment amount, 0k was for guaranteed return of 12% per annum, while 0k was for a full-sum non-secured investment. In November 2017, Mr Kuek's directed another person to Keystone to receive an update on the invested sum, however, Malcolm Tan declined that it had ever got any hard earned cash from him or performed any law services for Mr Kuek. Realizing that he has been deceived, Mr Kuek lodged a Law Society complaint in December 2017. The Law Society carried out a fast investigation and then put 7 charges against Malcolm Tan Chun Chuen. Malcolm was charged for generating false representations to Mr Kuek and also producing a clash of interest in his place as a lawyer. Malcolm outright denied all the accusations, citing that Mr Kuek is clearly aware of his participation in Bluesky. Secondly, that there was no turmoil because he was not carrying out any legal services to Mr Kuek. In June 2019, Malcolm Tan Chun Chuen attempted to get the case shut by paying 5k to Mr Kuek. The strategy failed, as the Law Society still found Malcolm Tan guilty on 3 charges.Malcolm Tan Chun Chuen has managed to run various other scams. For instance, scamming a victim of his expensive bitcoin BTC in December 2020. Initially, Malcolm put into an agreement with the fraud victim through 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 off the scam victim the equal sum in USD. Even with trying all options to get Malcolm to return the cash, Malcolm just returned 0.157557 BTC to the victim until now. The scam victim has chosen to sue scammer Malcolm Tan for his violation of contract and criminal activitiy. There are several furious investors who took it to Twitter to uncover Malcolm Tan Chun Chuen's $KINGSWAP as a huge scam. Even though KingSwap repeatedly claim to be the "First Regulated DeFi Project by the Monetary Authority of Singapore", having Malcolm Tan Lawyer said that, further evidence shows that KingSwap has only sent in the request for MAS for accreditation and their application is still unconfirmed. This indicates they are not regulated as of this moment, and KingSwap is just engaging in false marketing. Shareholders who signed up with the KingSwap telegram group were surprised to find out that one of the members of the crew, Malcolm Tan Chun Chuen was disbarred in 2020. Any time an individual brought up the topic, the group admins will immediately shield him by informing participants to stop judging him on his earlier problems, proclaiming he is a big time investor & entrepreneur. The KingSwap telegram admins tried very hard to shill the venture by declaring it could get to to 0 with 1B total supply despite the fact that the current price is --content--.01. The KingSwap endeavor hasn't even been posted on coingecko or other exchanges, 2 months after its launch, which is a enormous red flag. The KingSwap team claimed that coingecko desired 2 btc to list KingSwap, which is a complete lie. They also assert that they have brought up a total of m from investors to inject into liquidity pools. Even so, a look at on the liquidity pool just shows about 0k. The trading volume is also ridiculously low that coinmarketcap quit showing any info about KingSwap's market cap and volume. Alert, if you buy $KING on kingswap.io , you are not allowed sell your tokens as they are shut for an unknown time period. If you try to buy it on Uniswap instead, you'll have a great losses whenever you want to sell because there is too little liquidity on the market.