Australian Woman Hit With Ten-Year Ban Over $9.6 Million Crypto Scheme

The Australian Financial Advisor was banned for ten years after allegedly stolen $ 9.6 million from clients until investment in a crypto fraud.

Glenda Maree Rogan allegedly transferred the client’s funds to crypto-In investments between March 2022 and June 2023, according to a statement Posted by the Australian Securities Commission on Wednesday.

While working as an authorized representative of Private Wealth Wealth Wealth Pty Ltd and Fincare Group of Company, Rogan “made false statements to clients and became involved in the behavior he seduced the clients, the nature, the risks and the liquidity of the investment,” said ASIC.

The 10 -year ban, which entered into force on June 6, also forbids Rogan to perform any function in business with financial services or controls such subjects.

“Asic also revealed that he has reason to believe that Mrs. Rogan is not a suitable and appropriate person, not competent to participate in the Australian Financial Services Industry and will probably be contrary to the Law on Financial Services,” the regulator added.

The regulator claimed that Rogan told the victims that their money was entering “a highly offensive account with fixed interest, not at the Kripto currency, which had a significant risk,” and falsely claimed that clients were dealing with it as a representative of Fincare.

The scheme involved the transfer of investors to bank accounts controlled by Rogan and its personal company, the regulator said.

Most of the funds were then transformed into cryptocurrencies and sent to wallets controlled by an entity called the Financial Center, an allegedly trade platform based in the UK on the ASIC black list.

Australian regulators have broken the crypto fraud in the last few years, and Asic claimed to have assisted in closing 615 KRIPTO Investment fraud Since August 2024.

Last month, Asic launched a civil proceedings against former ACX.IO LIANGA “ALAGA” GUOA DUE DUE DUE DUE TO BRAIN, which left customers Claims greater than $ 20 million.

In March, the Gunn Brendan – Brother Olympic Breakkdancer Rachel “Raygun” Gunn – was accused of dealing with suspicious crime income In a separate case of a crypto fraud that includes $ 181,000.

Meanwhile, Rogan’s ban was recorded in Asic’s banned and disqualified register. She reserves the right to appeal to the tribunal for administrative examination, while Asic’s investigation of her behavior remains ongoing.

Edited Sebastian Sinclair