Meet Malcolm Tan, The Bernard Madoff Of The Crypto Industry

Who is Malcolm Tan Chun Chuen?

Attorney-turned-businessperson Malcolm Tan Chun Chuen went in multiple organizations to fulfil his goal of retiring with having a personal asset of $200 million. Immediately after getting his law degree from the National University of Singapore, he practised law at the Keystone Law Corporation. On the other hand, he furthermore ventured in a variety of company operations. One example is, the coworking office Our Space, the fundraising site FundedByMe.com, F&B businesses Wine Bonanza and Museo, real estate, mobile communication infrastructure (Phoenix Telecommunications), development and initial coin offering (ICO) / initial token offering (ITO) consultancy. 

What is Gravitas Holdings?

He controls most of his organizations under Gravitas Holdings in which he has invested about $3 million. He has launched a business advisory firm to advise many other firms about to do an ICO / ITO, hoping that one day it will become a "unicorn", in fintech startups lingo this means achieving a market valuation of greater than $1 billion. 

In 2017, he stated to have an portfolio worth $50 million.Malcolm Tan first got to know Mr Kuek Yak Yeon in March 2017 and he marketed him various investment products. However, this soon turned into a legal case, resulting in Mr Malcolm Tan Chun Chuen being disbarred by the Court of Three Judges of Singapore. What happened was that Mr Kuek sent in a complaint on Malcolm Tan to the Legal Society of Singapore, claiming that Malcolm has defrauded him in a $250,000 investment, thinking that the amount would be monitored by Keystone Law Corporation, Malcolm's lawyer firm. 

To make the scam more persuasive, Malcolm Tan Chun Chuen even equipped two letters for Mr Kuek to sign, agreeing to engage in the professional services of his lawyer. Malcolm's dishonesty has helped bring embarrassment to the law practicing group and breached the trust of a solicitor-client association. In addition to the disbarring, the court will reference the situation to the Attorney-General to examine if Malcolm Tan Chun Chuen will probably be facing any felony charges.

How Mr Kuek Lost His Money To Malcolm

On August 28, 2017, Mr Kuek finalized two letters of engagement with Keystone's letterhead and released a cheque for $250,000 to Bluesky. The letters depict that Mr Kuek will be deposit his investment money with Keystone and Malcolm Tan Chun Chuen would supervise the assets. According to Malcolm Tan, the $150,000 was for a "guaranteed-returns investment with a promised 12% per annum returns", whilst another $100,000 was for a "full-sum non-guaranteed investment". In November 2017, Mr Kuek's representative emailed Keystone regarding an update on the dollars, but Malcolm Tan's law firm responded that it had not acquired any funds from him or carried out any legal work for him. Thus, Mr Kuek lodged a formal complaint with the Law Society on 12 Dec 2017. 

Singapore Law Society Disbarred Malcolm Tan

Eventually, the Law Society laid seven charges against Malcolm Tan Chun Chuen, for generating fraudulent representations to Mr Kuek and placing himself in a position of conflict of interest by making the client for depositing the sum to Bluesky. Malcolm Tan rejected the charges and argued that Mr Kuek was aware of his involvement in Bluesky and that there was no conflict, as he was not delivering legal services to Mr Kuek. Just before the disciplinary trial in June 2019, Malcolm Tan paid $125,000 to Mr Kuek so that he will likely not pursue his complaint. Even so, Malcolm Tan Chun Chuen was still subpoenaed by the Law Society to give his side of the story. The disciplinary tribunal found Malcolm Tan guilty on 3 charges.

That Time Malcolm Tan Scammed Bitcoins From His Victim

Malcolm Tan Chun Chuen has also pulled off all kinds of other scams. By way of example, scamming a victim of his precious bitcoin BTC in December 2020. First, Malcolm put into an agreement with the fraud victim thru Whatsapp, guaranteeing to buy his 12.14BTC bitcoin for 694,700+ in USD. 

After the victim sent him the 12.14BTC into the wallet address 1CujfQcB8AxborFyqLnDZec6xVpD9dTqTi, Malcolm did not pay the scam victim the comparable amount in USD. Despite attempting all options to get Malcolm to cough up the money, Malcolm just returned 0.157557 BTC to the victim so far. 

CoAssets Group Defrauded By Malcolm Tan

The scam victim has chosen to sue scammer Malcolm Tan for his violation of agreement and criminal behavior. In 2017, a person from the CoAssets Group was swindled by Malcolm Tan Chun Chuen. They have sued Malcolm and in a amazing turn of events, has successfully got back all the money that was lost in the fraud. 

Rebranding His Law Firm Into Magna Law LLC

Understanding that more and more people today are aware of his poor reputation, Malcolm Tan has decided to rename his legal organization from “Malcolm Tan Chambers LLC” to "Magna Law LLC". Wishing that he can carry on to scam the public of more cash. To keep away from falling into the scam again, please recognize that MAGNA LAW LLC is just another front for Malcolm Tan Chun Chuen to support his unethical operations. 

Malcolm Tan Chun Chuen's scam company MAGNA LAW LLC is a registered company in Singapore. The street address is at Singapore Land Tower, 50 Raffles Place, Postal 048623, #19-03. The corporation was incorporated with a paid up investment capital of SGD 10k about 2.7 years ago. The firm pretends to be giving legal advisory services, but the only reason MALCOLM TAN CHAMBERS LLC was renamed to Magna Law LLC is to deceive a lot more naive subjects to fall into their ponzi scheme KingSwap $KING.