Despite being disbarred just last week by the Law Society of Singapore for being dishonest with clients, Malcolm Tan, Singapore lawyer is still, this week raising capital through an ICO of his Aexon Community Token. Unfortunately, the marketing material being used on the website is also misleading at best, and outright lies at its worst. You can find more information about it on their website right here: https://aexon.co/
This image was just taken from the Aexon.Co website, detailing the history of the project. You may recall that this project was mentioned previously, in our post back in 2018, which you can read here: https://malcolmtanchunchuen.com/2018/02/10/www-aexon-net-malcolm-tans-ico/
While some changes have been made, outright lies are still front and center in this promotional material. A quick check with ACRA will inform you that ActivBM was certainly NOT incorporated in 2016, nor has it been incorporated at any time SINCE then in Singapore.
Similarly, the valuation of $5 million in June of the same year can be proven as a figment of the imagination. Indeed, is it not reasonable to ask a question as to how a newly incorporated company with zero sales can be valued at such a figure only ONE MONTH after its incorporation. Even if it wasn’t incorporated. Which it wasn’t. Do you see the problem here?