TechFlow news, June 12 — According to Decrypt, the Australian Securities and Investments Commission (ASIC) has issued a 10-year ban against financial advisor Glenda Maree Rogan for allegedly diverting client funds into a cryptocurrency investment scam.
According to ASIC, Rogan directed approximately $9.6 million in client funds to a cryptocurrency investment scam platform called "Financial Centre," which has been listed on ASIC's blacklist of untrusted entities.
ASIC alleges that Rogan falsely told clients their money would be placed into "high-yield fixed-interest accounts" rather than high-risk cryptocurrency investments. She also falsely claimed to represent the company Fincare. Investigations revealed that client funds were transferred into bank accounts controlled by Rogan and her personal company, and most of the funds were subsequently converted into cryptocurrency and sent to wallets controlled by Financial Centre.
