The complaint alleges BG Wealth and DSJ Exchange used bogus registration claims, AI trading signals and social promotion to attract retail investors.The SEC has charged BG Wealth Sharing Ltd and DSJ Exchange Pty Ltd over an alleged fraud scheme that raised more than $130 million from retail investors. The agency says the foreign-operated, Colorado-incorporated entities promised extraordinary, risk-free returns from crypto trading signals, falsely claimed regulatory status and submitted misleading Form ADV and Form D filings that were publicly visible and shown to investors as supposed proof of SEC approval.The complaint covers conduct from at least October 2025 through June 2026 and says investors came from more than 40 U.S. states and several territories. The SEC alleges that BG Wealth claimed to be the world’s largest hedge fund and a registered investment adviser, while DSJ Exchange was presented as a licensed and secure crypto platform. Neither claim was true, according to the complaint. The Commission seeks permanent injunctions, disgorgement with prejudgment interest and civil penalties; the allegations have not been proven in court.
The case illustrates a persistent misunderstanding about regulatory filings: the appearance of a filing in a government database does not mean that an agency has licensed, approved or endorsed the issuer. Form ADV is associated with investment advisers, while Form D is generally used to...
What's True A law that passed the Welsh Parliament, known as the Senedd, in March 2026 tasked ministers with creating a criminal offense for making "false or misleading statements of fact" before ...