Australian Financial Adviser Banned for Decade After Swindling $14.8M in Crypto Scheme

Another ''trusted'' finance pro bites the dust—this time with a crypto twist.

Down Under''s regulatory hammer just dropped hard on a financial adviser who turned $14.8 million of client funds into a personal crypto piggy bank. The 10-year ban proves even ''professionals'' can''t resist blockchain''s siren song when greed calls.

Regulators are cleaning house—one bad actor at a time.

Funny how these ''advisers'' always advise themselves to take the money and run. At least this clown picked an asset class that moves faster than extradition paperwork.

TLDR

• Glenda Rogan banned for 10 years by ASIC after transferring at least $14.8 million in client funds to crypto investment scam between March 2022 and June 2023
• Rogan told clients money was going into safe fixed-interest accounts when it was actually being sent to risky cryptocurrency investments
• Funds were transferred to “Financial Centre,” a UK-based platform already on ASIC’s blacklist of untrusted entities
• Rogan worked as authorized representative of Private Wealth Pty Ltd and Fincare group companies during the scheme
• ASIC’s investigation into her conduct remains ongoing and she can appeal the decision

Australian financial adviser Glenda Maree Rogan has received a 10-year ban from providing financial services after allegedly running a cryptocurrency investment scam worth at least $14.8 million. The Australian Securities and Investments Commission announced the penalty on June 12, 2025.

Between March 2022 and June 2023, Rogan transferred client money to a crypto-based investment scam while working as an authorized representative. She operated through Private Wealth Pty Ltd and the Fincare group of companies in the Sutherland Shire and Wollongong areas.

ASIC found that Rogan made false statements to clients about where their money was going. She told investors their funds WOULD go into a high-yield fixed interest account rather than cryptocurrency investments. The regulator said this conduct misled clients about the nature, risks and liquidity of the investment.

The scheme worked by transferring investor funds to bank accounts controlled by Rogan and her personal company. Most of this money was then converted to cryptocurrency and sent to various wallets controlled by an entity called the Financial Centre.

The Financial Centre Connection

The Financial Centre claimed to be a UK-based trading platform but was already listed on ASIC’s Investor Alert List as an unlicensed entity. ASIC maintains this blacklist to warn consumers about companies that should not be trusted with investments.

ASIC found that Rogan would have had suspicions about the legitimacy of the Financial Centre from at least October 2022. Despite these red flags, she continued to direct client funds to the platform for several more months.

The regulator also determined that Rogan falsely claimed clients were dealing with her as a Fincare representative. This misrepresentation gave her conduct an appearance of legitimacy that it did not actually possess.

Rogan’s ban took effect on June 6, 2025, and prohibits her from performing any function in a financial services business. She also cannot control entities that carry on financial services businesses during the 10-year period.

Regulatory Response

ASIC stated it found reason to believe Rogan is not a fit and proper person to participate in the Australian financial services industry. The regulator also determined she is not competent and is likely to contravene financial services laws.

The banning has been recorded on ASIC’s banned and disqualified register, which tracks individuals prohibited from working in financial services. Rogan retains the right to appeal the decision to the Administrative Review Tribunal.

ASIC’s investigation into Rogan’s conduct remains ongoing, suggesting additional penalties or charges may follow. The regulator has not indicated whether criminal charges will be pursued in connection with the scheme.

During the period of misconduct, Rogan worked as an accountant and financial adviser at the Fincare group companies. She served as a director of these companies at various times between May 2014 and February 2024.

Rogan has not been licensed or authorized to provide financial services since February 8, 2024. Clients affected by her conduct can lodge complaints with the Australian Financial Complaints Authority.