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SEC sues BG Wealth and DSJ over crypto scheme

Topic: Investment schemes
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Contents

At a glance

The SEC says BG Wealth and DSJ Exchange raised more than $130 million while using false public filings to imply official approval. The civil case contains allegations, not a judgment.

SEC brings a new civil case

The US Securities and Exchange Commission sued BG Wealth Sharing Ltd and DSJ Exchange Pty Ltd on 29 October 2026, alleging an investment scheme that raised more than $130 million from retail investors. A litigation release published on 30 October describes the defendants as Colorado-incorporated businesses operated from abroad. The complaint was filed in the Northern District of California. It concerns alleged misconduct involving crypto trading claims and misleading regulatory credentials, rather than a newly announced exchange hack. The statements in the complaint are allegations by the regulator.

[1]

Public filings presented as approval

According to the SEC, BG Wealth promoted a supposed wealth-sharing program and presented DSJ Exchange as its licensed trading partner. Investors were told that technology-generated trading signals would produce exceptional returns without risk. The regulator alleges that false Form ADV and Form D submissions were then shared as evidence that the SEC had approved or licensed the businesses. The complaint also describes fabricated registration certificates. A document appearing in a public filing system therefore served as a marketing prop: its availability did not establish the approval investors were being promised.

[2]

Displayed profits and blocked withdrawals

The complaint says investors deposited crypto and copied trading signals into DSJ accounts, where a dashboard displayed purported transactions and rising balances. The SEC alleges that the promised trading and profits were fictitious and that earlier payments helped sustain the scheme. It also describes withdrawals being blocked, demands for additional tax payments and instructions to move to another platform. Those allegations do not establish that paying another fee would release a balance. Nor should earlier payments described in the complaint be confused with a new recovery or compensation distribution.

[3]

Claims still require a court decision

The SEC is seeking injunctions, civil penalties and the surrender of allegedly ill-gotten gains with interest. These are requests for court relief, not an announced award or confirmed repayment to investors. Its release says the BG Wealth Form ADV and DSJ Form D were removed from the Commission website. Investors assessing similar pitches should verify the legal entity and actual regulatory status through official channels rather than relying on a filing screenshot, a displayed account balance or a promise that another payment will unlock funds.

[4]

Evidence & sources

Source record: · Checked:

Record limits · Checked on 2 November 2026 against the SEC release and filed complaint. Civil allegations and requested remedies are not judicial findings or confirmed restitution.

  1. [1]Source reported

    The SEC sued BG Wealth and DSJ in a civil case alleging a scheme that raised more than $130 million.

    Supporting excerpt: SEC: BG Wealth Sharing Ltd and DSJ Exchange Pty Ltd, litigation release

    Original quotation

    helped them raise more than $130 million from tens of thousands of retail investors.
    SEC: BG Wealth Sharing Ltd and DSJ Exchange Pty Ltd, litigation release ↗

    Source language: EN · Captured Nov 2, 2026

  2. [2]Filed allegation

    The SEC alleges that false filings and certificates were used to imply regulatory approval.

    Supporting excerpt: SEC complaint against BG Wealth Sharing Ltd and DSJ Exchange Pty Ltd

    Original quotation

    Defendants then portrayed those filings —and fabricated registration certificates bearing the SEC’s seal—as proof that the SEC had licensed or approved them
    SEC complaint against BG Wealth Sharing Ltd and DSJ Exchange Pty Ltd ↗

    Source language: EN · Captured Nov 2, 2026

  3. [3]Filed allegation

    The complaint alleges fictitious trading profits, withdrawal barriers and demands for more payments.

    Supporting excerpt: SEC complaint against BG Wealth Sharing Ltd and DSJ Exchange Pty Ltd

    Original quotation

    Investors who paid remained unable to withdraw their funds.
    SEC complaint against BG Wealth Sharing Ltd and DSJ Exchange Pty Ltd ↗

    Source language: EN · Captured Nov 2, 2026

  4. [4]Source reported

    The SEC seeks court relief and says the disputed filings were removed; this does not confirm investor repayments.

    Supporting excerpt: SEC: BG Wealth Sharing Ltd and DSJ Exchange Pty Ltd, litigation release

    Original quotation

    The complaint seeks permanent injunctions, disgorgement with prejudgment interest, and civil penalties against both defendants and conduct-based injunctions against BG Wealth.
    SEC: BG Wealth Sharing Ltd and DSJ Exchange Pty Ltd, litigation release ↗

    Source language: EN · Captured Nov 2, 2026