$130 Million Scam Used SEC Website to Deceive Investors
Companies faked official regulatory filings to simulate authorization and lure victims with promises of high profits.
The U.S. Securities and Exchange Commission has removed fraudulent records from its public database. The companies BG Wealth Sharing and DSJ Exchange exploited the official system to validate a 130 million dollar scam.
The fraudsters promised investors monthly returns of 60 percent. The scheme claimed that capital could double in just 40 days without any financial risk involved.
The companies submitted documents such as Form ADV and Form D to gain credibility. They directed victims to the agency's EDGAR portal as proof that they held official licenses to operate.
Investigations revealed that the trading activities were entirely fictitious. Most of the deposits were embezzled by the operators instead of being invested in the cryptocurrency market as previously advertised.
The scheme operated between October 2025 and June 2026. The total losses for the thousands of affected investors exceed 100 million dollars.
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