Former NSW adviser banned over cryptocurrency scam investment
ASIC has banned a former NSW adviser from providing advice for 10 years for engaging in misleading or deceptive conduct.
Glenda Maree Rogan was an adviser with the Fincare group of companies based in Sutherland Shire and Wollongong in NSW, and an authorised representative of Private Wealth Pty Ltd.
She has not been licensed or authorised to provide financial services under an Australian Financial Services Licence since 8 February 2024.
From 6 June 2025, she has been banned by ASIC from performing any function involved in the carrying on of a financial services business, and controlling an entity that carries on a financial services business for 10 years.
Between March 2022 and June 2023, ASIC said Rogan transferred at least $14.8 million of funds invested by clients, family and friends to a cryptocurrency-based investment scam.
Investors’ funds were transferred to bank accounts held by Rogan and her personal company, the majority of which were converted to cryptocurrency then transferred to various wallets nominated by the Financial Centre, purportedly a UK-based trading platform.
“Rogan made false statements to clients, and engaged in conduct that misled clients, about the nature, risks and liquidity of the investment to induce them to invest, including that it was a high-yield fixed interest account, rather than cryptocurrency which carried significant risk, and that clients were dealing with her in her capacity as a representative of Fincare,” ASIC said.
ASIC noted the Financial Centre is already listed on its Investor Alert List as an unlicensed entity that should not be trusted, and Rogan should have had suspicions since October 2022 about the legitimacy of the company.
The banning has been recorded on ASIC’s banned and disqualified register and she has the right to appeal to the Administrative Review Tribunal.
ASIC’s investigation into her conduct is ongoing.
AUTHOR
Laura Dew
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