The Australian Securities and Investments Commission (ASIC) has banned financial advisor Glendy Marie Rogan from providing financial services for 10 years due to cryptocurrency fraud amounting to 15 million AUD ($9.5 million). Between March 2022 and June 2023, Rogan misled clients by promising to invest their funds in 'high-yield fixed rate accounts.' Instead, the money was transferred to her personal and company-controlled accounts, converted into cryptocurrency, and directed to wallets linked to the Financial Centre platform, which was already blacklisted by ASIC.
This case is part of a global fight against crypto fraud. ASIC reported that by August 2024, it had helped shut down 615 crypto investment scams. In May 2025, the regulator initiated a civil lawsuit against the former CEO of the ACX exchange, following its collapse which caused investors to lose over 58 million AUD. Rogan has the right to appeal the ban in the Administrative Tribunal, but the investigation into her activities is ongoing.
This case highlights the need for caution when investing in cryptocurrencies. Stay informed to avoid scams! Subscribe to #MiningUpdates
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