Australia's financial regulator, the Australian Securities and Investment Commission (ASIC), has imposed a 10-year ban on financial adviser Glenda Maree Rogan for allegedly deceiving clients in a $9.6 million crypto investment scam. ASIC stated that Rogan informed clients they were investing in a high-yield fixed-interest account but instead directed their funds to a cryptocurrency platform identified as a potential scam. The allegations include that Rogan transferred a total of AUD 14.8 million (USD 9.6 million) invested by clients, friends, and family to unlicensed accounts before converting a majority into cryptocurrency. The investigation claims Rogan misled her clients about investment risks and the liquidity of their funds to encourage their investments. Although Rogan was active as a financial adviser until February 2024 without proper licensing, ASIC is currently conducting an ongoing investigation into her practices. Rogan may appeal the ban, but until then, she is prohibited from engaging in any financial services in Australia and is recorded in ASIC's banned register.

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