Binance News
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Australian Financial Advisor Banned for Decade Over Crypto Fraud
According to Foresight News, the Australian Securities and Investments Commission (ASIC) has imposed a 10-year ban on Glenda Rogan due to her involvement in a cryptocurrency scam. Between March 2022 and June 2023, Rogan, while serving as a financial advisor for Fincare Group and as an authorized representative of Australian Financial Services (AFS) licensee Private Wealth Pty Ltd, redirected at least $14.8 million from clients, family, and friends into a fraudulent crypto-based investment scheme.Rogan misrepresented the nature, risks, and liquidity of the investments to her clients and engaged in deceptive practices to persuade them to invest. Her actions have led to significant financial losses for those involved, prompting ASIC to take decisive action against her professional conduct.
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