A Hong Kong company claiming Australian credentials is promising investors 128% returns in seven months. New Tycoon Plus is peddling a familiar scam: take your money, recruit your friends, get rich.

The operation sits at the intersection of several red flags. Richard Tan chairs the venture. Michael Burnett serves as CEO. Veronica Tan holds the general manager title. Patrick Liew advises. These same names front Success Life, a Singapore outfit preparing to launch "Success Tokens" next month—a cryptocurrency nobody asked for.

New Tycoon Plus claims to be a wholly owned subsidiary of Success Resources Global Media, a company actually listed on the Australian Securities Exchange. That's a lie. Success Global Media's ASX filing contains zero mention of New Tycoon Plus. The corporate structure makes no sense anyway: a Singapore company supposedly listed on Australia's exchange, with a Hong Kong registration buried in the fine print. The company website provides a Singapore address, suggesting no actual Australian operations exist.

The website domain tells another story. New Tycoon Plus lists support at a newtycoon.com email address. Visit that domain and you find marketing for Success Resources seminars and workshops—paired with an MLM recruitment scheme. Sell seminars to people below you in the pyramid. Make commissions. The Alexa traffic data shows the website is dead weight.

Tan's history matters here. This is his second MLM attempt. The first one, simply called New Tycoon, failed. Now he's touring cryptocurrency investor summits worldwide, presumably to drum up fresh capital for version two.

New Tycoon Plus has no actual products or services. Affiliates buy membership and nothing else. The company exists only to recruit more affiliates.

The investment packages spell out the fraud plainly. Put in $1,200 and New Tycoon Plus promises $1,536 back. Invest $5,000 and collect $6,400. Drop $10,000 and receive $12,800. Seven months later, your investment supposedly matures. Affiliates also get 5% of their initial investment converted to Success Tokens, those launch-ready cryptocurrencies of dubious value.

New Tycoon Plus pays referral commissions through a unilevel structure. You sit at the top. Everyone you recruit goes directly under you at level one. When your recruits recruit others, those people slot below them. The commissions flow upward through the chain.

This is textbook MLM fraud. The money doesn't come from selling products. It comes from recruiting. Early participants might see returns when fresh recruits flood in with their bitcoin. The math collapses once recruitment slows. Most people lose everything.

Richard Tan provides no verifiable background information on either New Tycoon Plus or Success Life. A quick search yields nothing substantial about him. The vague credentials and phantom corporate addresses suggest intentional obscurity.

The regulatory gaps are glaring. How does an unlisted Singapore operation claim ASX credentials? Why hide behind a Hong Kong registration? Why create multiple shell companies with overlapping leadership?

New Tycoon Plus is running the oldest con in finance: promise extraordinary returns, keep it vague, move fast. The cryptocurrency wrapper makes it feel modern. The multilevel structure ensures those at the bottom—where most people sit—subsidize the few at the top.

Investors who send bitcoin to New Tycoon Plus should expect to lose it.

🤖 Quick Answer

What is New Tycoon Plus and what returns does it promise?
New Tycoon Plus is a Hong Kong-based company offering investors 128% returns over seven months. The operation combines investment promises with recruitment schemes, operating as an alleged subsidiary of Success Resources Global Media, an Australian Securities Exchange-listed entity.

Who are the key figures behind New Tycoon Plus?
Richard Tan chairs the organization, Michael Burnett serves as CEO, Veronica Tan holds the general manager position, and Patrick Liew provides advisory services. These individuals also front Success Life, a Singapore venture planning to launch cryptocurrency tokens.

What false claims does New Tycoon Plus make about its corporate structure?
New Tycoon Plus falsely claims to be a wholly owned subsidiary of Success Resources Global Media, an ASX-listed company. However, official ASX filings contain no mention of New Tyc

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