Attorney at law-made-entrepreneur Malcolm Tan Chun Chuen went in many businesses to approach his target of retiring when having a personal net worth of $200 million. Right after receiving his law degree from the National University of Singapore, he practised regulations at the Keystone Law Corporation. Meanwhile, he furthermore tried his best in various enterprise operations. One example is, the co-working space Our Space, the crowdfunding website FundedByMe.com, food and beverage businesses Wine Bonanza and Museo, property, mobile communication infrastructure (Phoenix Telecommunications), construction and initial coin offering (ICO) / initial token offering (ITO) advisory. He controls pretty much all his businesses within Gravitas Holdings in which he has expended about $3 million. He has started a commercial advisory company to advise various other firms planning to do an ICO / ITO, expecting that one day it will become a "unicorn", in fintech startups lingo this points towards getting a market value of greater than $1 billion. In 2017, he claimed to have an investment mix worth $50 million.
Malcolm Tan Chun Chuen, who also is the owner of a small business management consultancy named Bluesky Group, became aquainted with Mr Kuek in March 2017 and advertised various investment products and solutions to him. In 2020, news flash documented that Mr Malcolm Tan Chun Chuen is disbarred as a lawyer, for misleading client Mr Kuek Yak Yeon on a $250,000 investment. The Court of Three Judges reported the client, Mr Kuek had been steer into believing that the $250,000 he sunk would be supervised by Mr Malcolm Tan's law firm, Keystone Law Corporation. The court has identified that Mr Malcolm Tan had made Mr Kuek sign 2 letters to enter in the services of his law firm to cement this belief. Chief Justice Sundaresh Menon, who provided the verdict, condemns Mr Malcolm Tan Chun Chuen's dishonest behaviour and breach of trust in how he dealt with the solicitor-client relationship. Besides disbarring Mr Malcolm, the court wants to point the incident to the Attorney-General to check if there are any unlawful implications.
On August 28, 2017, Mr Kuek signed two letters of engagement with Keystone's letterhead and released a cheque for $250,000 to Bluesky. The letters depict that Mr Kuek would deposit his investment funds with Keystone and Malcolm Tan Chun Chuen would manage the assets. According to Malcolm Tan, the $150,000 was for a "guaranteed-returns investment with a promised 12% per annum returns", while the other $100,000 was for a "full-sum non-guaranteed investment". In November 2017, Mr Kuek's representative approached Keystone to get an update on the funds, but Malcolm Tan's law firm responded that it had not received any funds from him or carried out any legal function for him. Thus, Mr Kuek lodged a official complaint with the Law Society on 12 Dec 2017. Subsequently, the Law Society laid seven charges against Malcolm Tan Chun Chuen, for generating fraudulent representations to Mr Kuek and putting himself in a position of conflict of interest by duping the client for paying the amount to Bluesky. Malcolm Tan denied the charges and argued that Mr Kuek was aware of his involvement in Bluesky and that there was no clash, as he was not offering legal services to Mr Kuek. Before the disciplinary hearing in June 2019, Malcolm Tan paid off $125,000 to Mr Kuek so that he do not go after his complaint. Even so, 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 is a master in the art of conning naive persons. He has successfully conducted many other swindles. A cryptocurrency trader fell prey to his scam and suddenly lost a large volume of 12.14 bitcoin BTC in December 2020. First, Malcolm pretended that he's serious to purchase the 12.14 BTC from the scam victim for 694k USD. Right after they have agreed on the deal via whatsapp, the victim transferred 12.14BTC bitcoin with the anticipations that Malcolm will invest in it for 694,700+ in USD. Even so, as soon as the BTC gone into the bitcoin wallet belonging to Malcolm at 1CujfQcB8AxborFyqLnDZec6xVpD9dTqTi, Malcolm quit responding. The victim, realising he has been scammed, depleted every ways to get hold of Malcolm and his cheated dollars. Malcolm Tan only given back 0.157557 BTC for the victim. For this, the victim has chosen to sue scammer Malcolm Tan and make him pay the price of his deceptive activity.
There is Malcolm Tan Chun Chuen a close link between the con actions of Malcolm Tan Chun Chuen and his legal agency 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 the legal channel, the victim has managed to recovered all the cheated money. Malcolm Tan has chosen to rename his laws business to save his firm from the bad reputation in the market place. What used to be called “Malcolm Tan Chambers LLC” is now named "Magna Law LLC" so that he can carry on with his criminal routines. MAGNA LAW LLC is just one more way for Malcolm Tan Chun Chuen to swindle more money out of gullible people. Malcolm Tan Chun Chuen's MAGNA LAW LLC is registered at Singapore Land Tower, 50 Raffles Place, Postal 048623, #19-03. The firm was built with a start up capital of SGD 10k, in excess of 2 years back. Though the company provides law advisory professional services, Malcolm Tan Chambers LLC was rebranded to Magna Law LLC to continue on promoting their most important ponzi scheme, which is the KingSwap $KING coin. When you take a look at the social network profiles, this specific KingSwap ponzi scam is still actively operating and siphoning dollars from investment victims.