ASIC Bans Financial Adviser Over $14.8M Crypto Scam Fraud

Glenda Maree Rogan, a former accountant and wealth planner, has been barred from Australia''s financial services industry for a decade following an ASIC investigation into her role in a $14.8 million cryptocurrency fraud scheme. The regulator found she misled clients, friends, and family by presenting high-risk crypto investments as secure, fixed-income products.

Between March 2022 and June 2023, Rogan facilitated transfers to unlicensed crypto platforms while operating under Private Wealth Pty Ltd''s license. ASIC uncovered a pattern of deceptive conduct, with investor funds being funneled into speculative assets despite being marketed as professionally managed and low-risk.

The case highlights ongoing regulatory challenges in policing cryptocurrency-related misconduct within traditional financial advisory channels. ASIC''s decisive action underscores its commitment to enforcing compliance standards even as crypto adoption grows among mainstream investors.