Australian Woman Hit With Ten-Year Ban Over $9.6 Million Crypto Scheme
An Australian financial adviser, Glenda Maree Rogan, has been banned for ten years for allegedly stealing $9.6 million from clients to invest in a crypto scam. Between March 2022 and June 2023, Rogan transferred client funds to a crypto investment scam while working with Private Wealth Pty Ltd and Fincare. She misled clients about the nature, risks, and liquidity of the investments, falsely claiming their money was in a high-yield fixed interest account instead of cryptocurrency. The funds were redirected to bank accounts controlled by Rogan and her company, then converted to crypto and sent to wallets linked to a U.K.-based trading platform on ASIC's blacklist. ASIC found Rogan unfit to participate in the financial services industry. Her ban took effect on June 6, and she is prohibited from any financial services roles. ASIC's investigation into her conduct continues, and she may appeal the ban.
