According to ASIC, from March 2022 to June 2023, Rogan, being a financial consultant in the Fincare group and the authorized representative of Private Wealth Pty Ltd, transferred at least 14.8 million Australian dollars (about $ 9.5 million) into cryptocurrency. This money belonged to customers, family and friends Rogan.
The woman made false statements, misleading her customers regarding the risks and liquidity of investments. Rogan claimed that their funds are on a highly profitable fixed percentage, and not in cryptocurrencies, which are characterized by high volatility.
However, Rogan converted most of the funds into cryptocurrencies, and then transferred them to the Financial Center trading platform. It is assumed that this platform is based in the UK. Earlier, ASIC has already included Financial Center in the list of unlicensed organizations. Given that the woman could violate the law on financial services, deceiving her customers, the regulator doubted her competence as a financial consultant. The regulator also noted that since February 2024, Rogan had no license to provide financial services.
The violator is prohibited for ten years to provide any financial services and occupy senior positions in financial institutions. The ban entered into force on June 6, 2025. Rogan has the right to appeal to revise the ASIC solution. The regulator continues to investigate Rogan.
In May, ASIC accused the former director of Blockchain Global Lyana “Allan” Guo in violation of the official duties that could lead to the collapse of the ACX Exchange exchange. Earlier, the regulator warned that the vast majority of investors do not understand the risks of investing in crypto assets.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
