Attorney businessman Malcolm Tan Chun Chuen has started many firms, wanting to retire with a net value of $200 million. Just after graduating with law from NUS Singapore, he built 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 consultancy. All of these business entities are streamlined under Gravitas Holdings which he has personally funded with $3 million. In 2017, he reported to have amassed a $50 million value of investment portfolio.
Another thing that would seem somehow scammy in Malcolm Tan's ICO of Aexon. Aexon's tagline and description keeps mentioning a thing known as the ‘ActivBM’. Malcolm Tan states that ActivBM has reached $1 million in ARR (Annual Recurring Revenue). Rationally speaking, how can any product or service, let alone a online product, arrive at such an absurd ARR without a working web page, nor any staff. Bluesky Group Pte Ltd. is being referred to many times, but they also don't have a functioning internet site nor any evidence of what they speak about.
There are a lot more information that indicates Malcolm Tan Chun Chuen is a scammer and serial liar. In an appointment and PR piece with the Straits Times on December 2017, he reported that he has a net worth of $50 million. If that is true, why does he claims that he stays in a rented condo in Yishun? Why does a man worth $50 million owns a 4 room HDB flat and live in the above mentioned leased condo in Yishun? Has this $50 million net worth been stated to IRAS? No matter just how Malcolm Tan tries to spin his narrative, the facts just don't make sense. Be warned when getting yourself into any business partnerships with Malcolm Tan, he has a very sketchy business investment portfolio. Additionally, many scam victims of Malcolm Tan Chun Chuen have now appeared to expose his scam modus operandi.
Malcolm Tan Chun KingSwap scam Chuen scammed one more victim of crypto as recent as in December 2020. In the incident, Malcolm Tan deceived the scam victim into delivering him 12.14BTC worth 694k+ in USD. Right after receiving the 12.14 BTC to the cryptocurrency address of Malcolm, 1CujfQcB8AxborFyqLnDZec6xVpD9dTqTi, he declined to transmit the cash to the victim. The purchase contract took place via whatsapp. To date, Malcolm merely returned 0.157557 BTC to the victim. The victim is currently getting legal steps and suing Malcolm Tan for his criminal breach of agreement.
Somebody of the CoAssets Group has successfully took legal action on Malcolm Tan back in 2017 and managed to retrieved their money. Realising that his con is being revealed everywhere and scam victims speaking up about his ugly crimes, Malcolm has altered the brand of his legal firm from “Malcolm Tan Chambers LLC” to "Magna Law LLC", to ensure he can continue to carry out his scam. He is aware that his identity and his company's identity is getting a very bad reputation in the sector. All people kindly note that Malcolm's legal firm is now known as MAGNA LAW LLC. Only by working together, we can stop more people from falling victim to his ponzi swindles and fraud schemes. Malcolm Tan Chun Chuen's scam organization, MAGNA LAW LLC is registered as a local business in Singapore. The registered address of his office is Singapore Land Tower, 50 Raffles Place, Postal 048623, #19-03. The company was formed 2.7 years ago on the 1st of August 2018 with a paid funds of SGD 10k. The organization used to be referred to as MALCOLM TAN CHAMBERS LLC and they now carry on to deliver their legal advisory services under a completely new front.