The Securities and Exchange Commission charged two Colorado-incorporated entities, BG Wealth Sharing Ltd and DSJ Exchange Pty Ltd, with orchestrating a $130 million fraud scheme targeting tens of thousands of retail investors across more than 40 U.S. states and multiple territories.
From at least October 2025 through June 2026, the defendants induced investors to participate in a purported "wealth-sharing program" promising extraordinary, risk-free returns generated by so-called SI-generated signals for crypto asset trading. BG Wealth falsely claimed to be the world's largest hedge fund registered with the SEC as an investment adviser and partnered with DSJ Exchange, which it represented as a licensed and secure crypto trading platform. None of those representations were true.
The defendants created a false appearance of legitimacy by submitting false Form ADV and Form D filings to the SEC, which were publicly viewable and shared with investors as proof of SEC licensing or approval. They sustained the scheme through multiple communications channels including social media, encrypted messaging, weekly live videoconferences, and a mobile app. They displayed fake certificates bearing the SEC's seal and made periodic payments to certain investors in a Ponzi-like tactic while misappropriating remaining funds.
The SEC filed charges in the United States District Court for the Northern District of California alleging violations of the antifraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. BG Wealth faces additional charges for violating Sections 204(a) and 207 of the Investment Advisers Act of 1940. The SEC seeks permanent injunctions, disgorgement with prejudgment interest, civil penalties against both defendants, and conduct-based injunctions against BG Wealth.
The Form ADV filed by BG Wealth and the Form D filed by DSJ Exchange have been removed from the SEC website. The SEC has issued investor alerts warning that scammers use SEC exempt reporting adviser filings to create false impressions of legitimacy and recommends investors use Investor.gov to verify the background of investment professionals.