Is BG Wealth Sharing Ltd a Scam?

Regulators warn that the entity is not authorized to sell securities and exhibits, hallmarks of a Ponzi scheme.

Red Flags

• Regulatory Alerts: The Alberta Securities Commission (ASC), BC Securities Commission (BCSC), Utah Division of Securities, and Saskatchewan FCAA have issued warnings against BG Wealth Sharing Ltd.
• Unregistered Operations: The entity is not registered to trade or advise on securities in these jurisdictions.
• Method of Fraud: Participants are urged to deposit cryptocurrency into a "trading account" on the DSJ exchange, often via links sent through encrypted apps like WhatsApp, Telegram, and Bonchat.
• "Trading Signals": Investors receive daily "trading signals" from a self-proclaimed professor named Stephen Beard, promising high, guaranteed returns (e.g., 2000 USDT earning 1500 USDT/month).
• Fake Returns & Withdrawal Issues: While early investments may show profits, users report high fees (20-32%), severe restrictions, and "management approval" delays when trying to withdraw funds, often leading to a total loss of investment.
• High-Pressure Tactics: The scheme uses multi-level marketing (MLM) tactics, urging members to recruit others for bonuses and promoting a "cult-like" following.
• Impersonation: The group has falsely claimed to be registered with the SEC and ASIC.
• Associated Domains: The group frequently changes website domains to avoid detection, including bg662.com, dsjex.net, dsj89.com, and dsjzn.com.

Distinction

The ASC advises that this scheme should not be confused with BG Wealth Group Inc. (an Ontario-based entity also under regulatory scrutiny) or Beutel Goodman Balanced Fund.

Action Required

If you have been approached by this entity, regulatory authorities advise against sending funds and suggest reporting them immediately.