ASIC Bans Adviser for a Decade After AU$15M Crypto Scam Theft

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• Glenda Maree Rogan was banned for 10 years after diverting practically AU$15M from purchasers right into a crypto rip-off by way of an unlicensed offshore scheme, whereas working as a monetary adviser.
• ASIC discovered she misled purchasers about danger, ignored pink flags, and didn’t act with integrity, declaring her unfit to function within the monetary companies business.
• Over time, ASIC has dismantled over 10,000 rip-off websites, however the nation faces rising stress for clearer nationwide crypto regulations.

Glenda Maree Rogan has been banned from Australia’s monetary companies business for ten years after funnelling practically AU$15M right into a crypto rip-off whereas performing as a monetary adviser.

The Australian Securities and Investments Commission (ASIC) decided that Rogan diverted consumer funds into The Financial Centre, an unlicensed offshore scheme, throughout her time at Fincare and as a consultant of Private Wealth Pty Ltd. 

Between March 2022 and June 2023, she satisfied purchasers they have been investing in low-risk, high-yield accounts. Instead, the cash was transformed into crypto and moved to wallets managed by the rip-off outfit.

Related: Ethereum Staking Soars as ETH Price Hits Two-Week Peak

Despite warning indicators about The Financial Centre as early as 2022, Rogan continued to route funds by the platform. ASIC mentioned she didn’t act with integrity and confirmed no regard for the obligations tied to her license.

Her ban, which took impact on June 6, 2025, prohibits her from providing monetary companies or managing any monetary companies enterprise. The regulator mentioned she is neither competent nor appropriate to take part within the sector.

ASIC Is not Playing Around

In common, Australia’s monetary watchdogs are ramping up enforcement towards crypto fraud by focusing on scams, illicit exchanges, and regulatory gaps throughout the sector.

ASIC has taken down greater than 10,000 rip-off web sites over the previous 12 months, with a big portion tied to crypto-related fraud. Among these have been 95 entities linked to “pig butchering” operations, long-cons that lure victims into faux funding platforms earlier than draining their funds.

It’s true that monetary regulators have tightened their grip on crypto crime, however in the case of regulations, issues are a bit extra complicated, each on the regulatory and political fronts, with some Senators claiming that Bitcoin and crypto typically produce “nothing”. Meanwhile, Prime Minister Anthony Albanese lately appointed pro-crypto Andrew Charlton as assistant minister for the digital financial system. 

Related: Guggenheim’s Digital Commercial Paper Goes Live on XRP Ledger

All in all, the crypto business in Australia is sort of unsure, which might be why well-known establishments like Coinbase have urged the federal authorities to take a number of steps to enhance its standing worldwide.

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