Crypto Scam Costs Glenda Rogan a 10-Year Ban from ASIC

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Crypto Scam Costs Adviser Glenda Rogan 10-Year Ban from ASIC

Written by Aaron S.,

Editor-In-Chief

Last Updated: June 12, 2025

Key Takeaways

Glenda Rogan was banned for 10 years after allegedly misusing $10 million in client funds in a crypto scheme;
ASIC says Rogan misled clients by claiming funds were in low-risk products while secretly buying crypto;
The funds were sent to a flagged offshore platform, and ASIC ruled Rogan unfit to work in finance again.

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Crypto Scam Costs Adviser Glenda Rogan 10-Year Ban from ASIC

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The Australian Securities and Investments Commission (ASIC) has imposed a ten-year industry ban on Glenda Maree Rogan, a financial adviser accused of misusing nearly $10 million in client funds.

The ban, effective from June 6, prevents Rogan from offering financial advice or being involved in any financial services business across the country, according to a June 11 press release.

Between March 2022 and June 2023, Rogan allegedly transferred client money into a cryptocurrency investment scheme, despite telling them it was being invested in a low-risk, fixed-interest product.

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At the time, she was working as an authorised representative of Private Wealth Pty Ltd and the Fincare group. ASIC said she provided false information to her clients and misled them about the investment’s safety, accessibility, and nature.

According to the regulator, Rogan also claimed to be acting on behalf of Fincare, when in fact that was not the case. She reportedly redirected investor funds into bank accounts under her control or those of her personal company.

These funds were then converted into cryptocurrency and sent to digital wallets owned by an entity called the Financial Centre, an overseas platform that ASIC has already identified as a possible scam.

ASIC concluded that Rogan is not a "fit and proper person" to work in the financial services industry and stated that there was a strong likelihood she would breach the rules again if allowed to continue.

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