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Australia Bans Financial Advisor For 10 Years Over Crypto Scheme

June 13, 2025Updated:June 13, 2025No Comments3 Mins Read
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Australia Bans Financial Advisor For 10 Years Over Crypto Scheme
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Australia’s markets regulator has banned a monetary adviser from providing monetary companies for 10 years, alleging she deceptively invested her purchasers’ cash right into a crypto platform listed as a potential rip-off.

The Australian Securities and Funding Fee (ASIC) stated on Thursday that it had put Glenda Maree Rogan on a decade-long ban for allegedly transferring 14.8 million Australian {dollars} ($9.6 million) “invested by purchasers, household and associates to a cryptocurrency-based funding rip-off.”

The company claimed that between March 2022 and June 2023, Rogan took her purchasers’ funds and moved them to private and firm financial institution accounts earlier than changing a majority to crypto and sending the cash to the crypto platform Monetary Centre.

ASIC has listed Monetary Centre as an unlicensed entity that “shouldn’t be trusted” and claimed that Rogan “would have had suspicions in regards to the legitimacy of the Monetary Centre from at the least October 2022.”

Rogan’s purchasers deceived, ASIC claims

ASIC stated that between Might 2014 and early February 2024, Rogan was an accountant, monetary adviser and director at a gaggle of corporations known as Fincare positioned in Sutherland and Wollongong, two areas south of Sydney.