ASIC Bans Former Financial Adviser for 10 Years Over Crypto Scam

Glenda Maree Rogan, a former financial adviser, has been banned by ASIC for 10 years after being involved in a cryptocurrency scam that misappropriated at least $14.8 million of investor funds. She transferred these funds to accounts linked to a fraudulent trading platform. Rogan’s dealings raised significant red flags about her fitness to operate within the financial services industry, leading to regulatory actions against her.

A former financial adviser based in Sutherland Shire has been banned for a decade following her involvement in a substantial cryptocurrency scam. The Australian Securities and Investments Commission (ASIC) announced that Glenda Maree Rogan was prohibited from offering financial services for 10 years due to her actions that led to the diversion of at least $14.8 million in funds between March 2022 and June 2023.

While serving as a financial adviser with the Fincare group, Rogan allegedly transferred investor funds to a fraudulent cryptocurrency scheme, sending money to personal accounts and then converting these funds into various cryptocurrencies. According to ASIC, these transactions were directed towards a platform called the Financial Centre, which is identified as an unlicensed entity that should be avoided by investors.

The inquiry revealed that Rogan likely had doubts about the legitimacy of the Financial Centre as early as October 2022. This led ASIC to conclude that she had engaged in misleading and deceptive conduct, thus violating financial services law. They believe that she is unsuitable to operate in the Australian financial services sector.

During the time her misconduct occurred, Rogan held multiple roles including accountant and director within the Fincare group, covering subsidiaries like Fincare Planning Pty Ltd and Fincare Private Wealth Pty Ltd. She was also an authorised representative of Private Wealth Pty Ltd until earlier this year, specifically from November 2020 until February 2024.

The ban took effect on 6th June 2025, and Rogan retains the right to challenge ASIC’s ruling through the Administrative Review Tribunal. Notably, she has not been licensed to provide financial services since February 2024. Additionally, her membership with the Financial Advice Association Australia was terminated in May 2024, with the association confirming she was deemed unfit for membership.