SEC charges two Colorado entities in $130 million fraud scheme

The Securities and Exchange Commission said it charged BG Wealth Sharing Ltd. and DSJ Exchange Pty Ltd, two foreign-operated Colorado-incorporated entities, in an alleged $130 million fraud scheme that used false SEC filings to bolster investor confidence, according to the agency’s Oct. 29, 2026 press release.

Evidence and context

The SEC’s announcement said the companies orchestrated a scheme that relied on false filings made with the agency. The release did not, in the source text provided, detail the specific charges beyond that description, but it identified both entities by name and said they were Colorado-incorporated and foreign-operated.

Available enrichment indicates the companies had already drawn scrutiny from state and territorial regulators earlier in 2026. Washington State’s Department of Financial Institutions issued an alert on April 10, 2026, saying the firms’ claimed founding dates conflicted with incorporation records and describing listed addresses as a generic PostNet location and temporary office space, according to the background material supplied. On May 26, 2026, the Washington regulator said the companies used fake certificates claiming government approval. Washington later entered a final order against BG Wealth Sharing Ltd. and DSJ Exchange Pty Ltd. on June 30, 2026, case S-26-4210-26-FO01, according to the enrichment.

The Bahamas Securities Commission also warned on July 3, 2026, that neither company nor their representatives were registered or licensed by that commission, the supplied enrichment said. Colorado Secretary of State records in the background material identify BG Wealth Sharing Ltd. as a Colorado corporation formed on April 13, 2025, with status listed as delinquent, and DSJ Exchange Pty Ltd. as a Colorado corporation formed on June 30, 2025, with status listed as noncompliant. The retrieved records did not include an exact retrieval timestamp.

The background material further says Washington identified the firms as affiliated, with BG Wealth promoting investment opportunities and trading signals and DSJ supplying the purported cryptocurrency trading platform. It also notes that BG Wealth’s SEC-hosted Form ADV identified CRD number 338316 as an SEC Exempt Reporting Adviser submission, which Washington said was not SEC registration or approval, while DSJ had a Form D exemption filing and a FinCEN Money Services Business filing. Those filings, the supplied material says, should not be treated as investment or exchange licences.

The SEC’s Oct. 29 announcement adds a federal enforcement action to the earlier state and territorial warnings. The next verified catalyst was not supplied.