Australia’s financial watchdog has slapped a decade-long ban on a Sydney-based adviser after she sent client funds into a crypto operation flagged as risky. The Australian Securities and Investments Commission (ASIC) says Glenda Maree Rogan moved A$14.8 million ($9.6 million) into a platform already marked as unlicensed. Clients, family and friends reportedly lost out when their money vanished into what ASIC calls a likely scam.
Investors are being urged to check ASIC’s register before handing over cash. High promised returns, especially in crypto, should raise red flags. Anyone hitting a supposed “guarantee” might be staring at an unregulated scheme. While ASIC continues its inquiry into Rogan, this case underlines just how careful people must be when a trusted adviser steers them toward something that sounds too good to be true.
Featured image from FinanceAsia, chart from TradingView
