From Cointelegraph

June 12, 2025 10:30 PM:

Australia’s financial adviser Glenda Rogan banned for 10 years by ASIC for allegedly scamming clients of $9.6 million into a crypto platform labeled as a possible scam. Rogan transferred clients’ funds to personal accounts and then converted majority to crypto. ASIC investigation into Rogan still ongoing, ban effective June 6.

ASIC claims Rogan misled clients into investing in a high-yield fixed-interest account, deceiving them about the risks and nature of the investment. Rogan was involved in financial services companies located in Sutherland and Wollongong. ASIC banned Rogan for not being a fit and proper person in the financial industry.

Rogan is now prohibited from engaging in financial services or controlling a business that provides such services. She has the right to appeal ASIC’s decision. Australia’s financial intelligence agency has also implemented new rules for crypto ATM operators to combat rising scams. AUSTRAC has taken action against dormant crypto exchanges to prevent potential scams.

Australia tightening regulations on crypto to prevent scams, with AUSTRAC cracking down on dormant exchanges and taking action against remittance service providers. Rogan’s ban recorded in ASIC’s banned register. Ongoing investigation into Rogan by ASIC.

Read more at Cointelegraph: Australia Bans Financial Advisor For 10 Years Over Crypto Scheme