SEC Charges BG Wealth Sharing Ltd. and DSJ Exchange Pty Ltd. In 130 Million Dollar Crypto Fraud

The Securities and Exchange Commission charged BG Wealth Sharing Ltd. and DSJ Exchange Pty Ltd. with operating a crypto investment fraud that raised over 130 million dollars from retail investors. The complaint, filed in the U.S. District Court for the Northern District of California, alleges that from October 2025 to June 2026, the companies induced investors across more than 40 states and U.S. territories to join a 'wealth-sharing program' with promises of risk-free returns from crypto trading signals. BG Wealth falsely claimed to be the world's largest hedge fund and registered with the SEC as an investment adviser, while DSJ Exchange was presented as a licensed trading platform. The SEC states these claims were untrue and that the companies submitted false Form ADV and Form D filings to mislead investors. The operation utilized social media, encrypted messaging, and a mobile app to engage investors, displaying fake SEC certificates and making periodic payments to some, described as a 'Ponzi-like tactic.' The SEC charged both companies with violating antifraud provisions of the Securities Act and the Securities Exchange Act, and BG Wealth with additional violations under the Investment Advisers Act. The SEC seeks permanent injunctions, disgorgement, and civil penalties against both companies. The fraudulent filings have been removed from the SEC website, and investor alerts have been issued to warn against scams using false legitimacy.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.