The SEC sued BG Wealth Sharing Ltd and DSJ Exchange Pty Ltd on October 29. It says they raised more than $130 million from tens of thousands of people with a crypto plan promising at least 60% a month. They showed investors their SEC filings as proof of a license. A filing is not a license. If you're asked to pay a "tax" to unlock a BG Wealth or DSJ account, don't pay.

Key facts

  • Who: BG Wealth Sharing Ltd and DSJ Exchange Pty Ltd, Colorado-incorporated companies the SEC says were run from abroad
  • What: SEC fraud lawsuit; the companies promised "zero risk" returns of at least 60% a month from crypto trading signals
  • How much: More than $130 million raised from tens of thousands of investors; losses above $100 million, the SEC says
  • When: Complaint filed October 29, 2026, in federal court in San Francisco (N.D. Cal.)
  • Source: SEC Litigation Release No. 26679

The proof looked official because part of it was on the SEC's own website. On October 29, the Securities and Exchange Commission sued BG Wealth Sharing Ltd and DSJ Exchange Pty Ltd. It says they raised more than $130 million from tens of thousands of retail investors in more than 40 states.

What BG Wealth promised

According to the SEC's complaint, BG Wealth called itself the world's largest hedge fund. It promised returns of at least 60% a month and said investors could double their money in 40 days with "zero risk." The returns supposedly came from trading "signals" with 99.6% accuracy, credited to a founder called "Professor" Stephen Beard.

Investors opened accounts on DSJ Exchange, deposited crypto and copied the signals in. The app showed trades, profits and growing balances. The SEC says none of it was real. Most of the money was taken, and no more than $25 million went back out in Ponzi-like payments to keep people in.

The trick with the SEC filings

BG Wealth filed a Form ADV saying it was an "exempt reporting adviser." DSJ Exchange filed a Form D for a $100 million offering. Both forms showed up in the SEC's public search. The companies then showed them to investors, along with fake certificates bearing the SEC seal, as proof they were licensed.

Anyone can submit those forms. Being listed in an SEC database does not mean the SEC checked, approved or licensed anyone. The SEC says neither company was registered, and both filings had false information. It has since taken the filings down.

The "tax" to get your money out

The SEC says withdrawals came with fees as high as 20% and long delays. After the FBI seized BG Wealth's main website in April, Beard blamed a "Chinese hack." DSJ Exchange later blocked withdrawals entirely. Investors were then told to pay a "tax" to unlock their accounts, or move more money to a new platform called HQI Exchange. People who paid still couldn't withdraw.

If that's happening to you, stop paying. A fee to release your own money is a classic second-round scam, and so are "recovery" services that contact you afterward. Our guide to crypto recovery scams shows how they work.

How to check an "SEC registered" claim

  • Search the name on investor.gov. It's the SEC's free lookup for advisers and brokers. A real adviser shows as registered, not just "exempt reporting."
  • Ignore certificates. The SEC doesn't issue registration certificates with its seal for companies to post.
  • Treat "zero risk" and fixed monthly returns as the warning. No legitimate trading program can promise them.
  • Be wary of pay for recruiting. Bonuses for bringing in new people helped this scheme grow, the SEC says.

Lost money to BG Wealth or DSJ Exchange? Our guide shows where to report it. Our due diligence checklist covers the checks to run before you deposit anywhere. These are the SEC's claims; the companies haven't answered them in court yet.

Sources: US Securities and Exchange Commission, Litigation Release No. 26679, SEC v. BG Wealth Sharing Ltd and DSJ Exchange Pty Ltd (October 30, 2026), SEC complaint, SEC v. BG Wealth Sharing Ltd, et al., No. 3:26-cv-12746 (N.D. Cal., filed October 29, 2026), Washington State Department of Financial Institutions, alert on BG Wealth Sharing Ltd and DSJ Exchange.