Australia Bans Financial Adviser for 10 Years Over $9.6M Crypto Fraud

Australia''s securities regulator has barred former financial adviser Glenda Maree Rogan from the industry for a decade after she allegedly diverted A$14.8 million (US$9.6 million) of client funds into a cryptocurrency scam. The Australian Securities and Investments Commission (ASIC) found Rogan misled investors by promoting the scheme as a high-yield fixed-income product while funneling money to a flagged UK crypto platform.

Between March 2022 and June 2023, Rogan solicited funds from clients, friends, and family through accounts she controlled, ultimately converting them to cryptocurrency. ASIC determined she likely knew the recipient platform—listed on its Investor Alert List—was illegitimate. The ban, effective June 6, prohibits Rogan from providing financial services or holding management roles.