Crypto Con: Aussie Adviser Banned 10 Years Over $9.6 Million Scam

Well now, gather ’round, folks! It seems our dear friend Glenda Maree Rogan from Sydney has found herself in a bit of a pickle. The financial watchdogs down under, known as ASIC, have decided to give her a ten-year timeout for sending client funds into a crypto venture that was as trustworthy as a snake oil salesman. A whopping A$14.8 million (or $9.6 million for those who prefer the greenbacks) has vanished into the ether, leaving clients, family, and friends scratching their heads and wondering where their hard-earned cash went. 🐍💸

Adviser Accused Of Misleading Clients

Now, according to the fine folks at ASIC, Glenda was peddling a “high-yield fixed-interest account” from May 2014 to February 2024. She was supposed to be a financial whiz at Fincare firms in Sutherland and Wollongong, but instead of tucking those funds away in safe havens, she funneled them into her own personal piggy bank. And wouldn’t you know it, most of that cash ended up in the wild world of crypto, specifically a place called Financial Centre, which ASIC warns is about as reliable as a three-legged dog in a race. 🐶💰

Funds Routed Through Personal Accounts

Reports suggest that from March 2022 to June 2023, Glenda was busy moving money like a magician at a carnival. A total of A$14.8 million was shuffled into her personal and corporate accounts before most of it took a one-way trip into the crypto abyss. Investigators reckon she must have had a nagging doubt about the platform’s legitimacy by October 2022, yet she pressed on like a stubborn mule. Now, her family and friends who took her advice are caught in a web of ongoing investigations. 🕸️🤔

10-Year Ban Imposed

On June 6, 2025, ASIC announced that Glenda would be taking a long vacation from the financial world for a decade. Under this ban, she can’t touch any financial services business with a ten-foot pole. The regulators have deemed her “not a fit and proper person,” which is a fancy way of saying she’s likely to break the rules again if given half a chance. Her license expired on February 8, 2024, and she’s been unlicensed ever since. She can appeal, but for now, her name is on the naughty list. 🎭🚫

Broader Crypto Crackdown

This whole affair is part of a larger crackdown on shady crypto operations in Australia. Just recently, AUSTRAC rolled out new rules and set transaction caps for crypto ATMs to keep the scammers at bay. In April, they told inactive crypto exchanges to either shape up or ship out. And in February, they took action against 13 remittance firms and exchanges, with more than 50 under scrutiny for potential breaches. It’s clear that the regulators are not playing around when it comes to unlicensed services. ⚖️💼

Investors are being urged to check ASIC’s register before handing over their hard-earned cash. If something sounds too good to be true, it probably is. So, while ASIC continues its inquiry into Glenda, let this be a lesson: be wary when a trusted adviser leads you down a path that seems paved with gold. 🏆💰

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2025-06-13 18:15