Pacific regulators crack down on BG Wealth crypto scheme

By Samoa News staff reporters@samoanews.com Pago Pago, AMERICAN SAMOA — American Samoa residents are being urged to exercise extreme caution before investing in BG Wealth Sharing LTD or its associated cryptocurrency trading platform, DSJ Exchange (DSJ EX), following a series of regulatory actions and public warnings issued across the Pacific and North America. Over the past several months, securities regulators, central banks, and financial intelligence agencies have warned that BG Wealth is allegedly operating as an unregistered investment scheme that promises unusually high returns while encouraging participants to recruit family members and friends. The warnings are particularly relevant to American Samoa because the scheme has been actively promoted throughout Pacific communities, including Tonga, Samoa, Hawaiʻi, New Zealand, Australia, and the United States. HAWAIʻI ORDERS BG WEALTH TO CEASE AND DESIST On May 6, 2026, the Hawaiʻi Department of Commerce and Consumer Affairs, through Securities Commissioner Ty Y. Nohara, issued a Preliminary Order to Cease and Desist against BG Wealth Sharing LTD, Cranci Ilima Luci Hoopai, and Ligaya Joy Arcenas. According to the Hawaiʻi order, BG Wealth allegedly solicited Hawaiʻi residents to invest through the DSJ Exchange cryptocurrency platform. Regulators described an investment presentation held at the Nanakuli Public Library in Waiʻanae attended by approximately 40 to 50 people. The promotional materials allegedly promised: A 99.6% trading win rate; daily compounded profits; capital increasing within two months; and, claims that BG Wealth was the “world’s largest hedge fund”. The order also alleges that one presenter claimed she had withdrawn more than $300,000, earned $17,500 per day, and that anyone could become a millionaire in 11 months. Hawaiʻi regulators concluded, on a preliminary basis, that the investments were unregistered securities being offered illegally in Hawaiʻi. PACIFIC REGULATORS ISSUE WARNINGS The concerns extend well beyond Hawaiʻi. The Central Bank of Samoa issued a public advisory warning that BG Wealth has been widely promoted across social media under slogans such as “Join the Crypto Revolution.” The Central Bank warned that BG Wealth is not regulated in Samoa, that cryptocurrency schemes promising high or guaranteed returns present significant risks, and that the Samoa Financial Intelligence Unit has alerted banks and money- transfer operators to report information related to the scheme for possible investigation. Earlier this year, regulators in New Zealand and the National Reserve Bank of Tonga jointly warned that BG Wealth/ DSJ EX displayed characteristics of a Ponzi-style investment scheme using multi-level marketing recruitment techniques. According to those regulators, promoters promised 100% returns, recruited investors through private messaging groups, and frequently used individuals identified only as “professor,” “assistant,” or “crypto adviser” to build credibility. ADDITIONAL REGULATORY ACTION Regulators outside the Pacific have also begun taking action. The Washington State Department of Financial Institutions issued an alert warning that cryptocurrency scammers associated with BG Wealth may attempt to move investors onto successor platforms after regulatory scrutiny increases. The Utah Division of Securities issued an Investor Alert warning that BG Wealth claims to offer high-return opportunities through cryptocurrency trading on DSJ Exchange but is not registered to provide investment advice or sell securities in Utah. Utah regulators specifically warned investors that SEC filings cited by promoters do not constitute SEC approval or endorsement of the investment. In Canada, the Alberta Securities Commission issued cease-and-desist letters to promoters connected with BG Wealth and warned investors that victims were being asked to pay additional “taxes” or fees to release their money—a common hallmark of cryptocurrency investment fraud. SOCIAL MEDIA PROMOTION CONTINUES Despite increasing regulatory attention, BG Wealth continues to be heavily promoted on Facebook and other social media platforms throughout the Pacific. Public posts reviewed by Samoa News show advertisements encouraging people to attend investment seminars and “crypto” presentations. Other social media discussions indicate that recruitment efforts have focused heavily on Pacific Island communities and often rely on testimonials from relatives, church members, and friends rather than independently verifiable financial information. STORIES FROM VICTIMS AND FAMILIES One of the most troubling aspects of BG Wealth has been its effect on families. Public discussions among Pacific community members describe situations in which early participants reported successful withdrawals and encouraged relatives to invest. Some individuals stated that family members retired early or urged entire extended families to join because initial returns appeared genuine. Other participants warned that they feared loved ones were being drawn into the scheme because of fear of missing out and constant success stories on social media. They expressed concern that if the scheme ultimately collapsed, the financial and emotional damage within Pacific families could be severe. These accounts are anecdotal and should not be treated as verified evidence, but they illustrate how rapidly recruitment can spread through close-knit communities. RED FLAGS Financial regulators have consistently warned the public to be cautious of investments that: promise unusually high or guaranteed returns; claim extraordinarily high trading success rates; rely on recruiting new investors; pressure people to invest quickly; encourage cryptocurrency transfers to unfamiliar platforms; require additional payments or “taxes” before allowing withdrawals; or rely primarily on testimonials instead of independently verifiable financial information. ADVICE FOR AMERICAN SAMOA At this time, Samoa News is not aware of any enforcement action involving BG Wealth in American Samoa. However, given the widespread promotion of the scheme throughout Pacific communities, residents should exercise extreme caution before investing. Anyone approached about BG Wealth, DSJ Exchange, or a similar cryptocurrency investment should independently verify whether the promoters are properly licensed and whether the investment is registered with appropriate securities regulators. Anyone who believes they may have invested in BG Wealth, been solicited by promoters, or possesses information about BG Wealth activities in American Samoa should contact the Office of the Attorney General of American Samoa. Early reporting may assist authorities in identifying potential victims, preserving evidence, and determining whether any violations of territorial law have occurred. Section: Regional Tags: BG Wealth crypto scheme
2026-07-14 16:41:06