ASC issues cease-and-desist letters to prevent further harm to victims of BG Wealth Sharing as scam collapses

CALGARY, AB, May 25, 2026 /CNW/ - The Alberta Securities Commission (ASC) has issued several cease-and-desist letters to promoters linked to BG Wealth Sharing, an online cryptocurrency and multi-level marketing (MLM) scam, and its associated fraudulent trading platform, DSJ Exchange (also known as DSJ EX) in an attempt to prevent further investor harm.

The ASC issued an Investor Alert for BG Wealth Sharing in February 2026 after first placing it on the ASC Investment Caution List in January. Recent complaints indicate that promoters and others linked to the scheme are trying to obtain more money from investors as it begins to collapse. The BG Wealth Sharing website (bgwealthsharing.com) was seized by U.S. law enforcement in late April 2026.

How the scheme worked

The scheme was promoted through individual recruiters, referral networks, storefronts and in-person events, as well as social media and private messaging apps. Members were promised unrealistically high returns and told to deposit crypto into wallets controlled by BG Wealth Sharing and DSJ EX.

No evidence of legitimate trading

Members were shown account balances with high returns, but these are believed to be fake and intended to increase confidence in the platform. To date, there is no evidence that any legitimate trading occurred on DSJ EX websites or applications.

Investors urged not to transfer any additional funds and to beware of recovery scams

Some members report they are unable to withdraw funds unless they first pay a so-called 12 per cent "tax" to access their accounts. The ASC urges Albertans not to pay this tax, as it will not result in the recovery of any funds.

Requests for additional deposits -- especially crypto -- before you can access your funds are a common sign a scam is nearing collapse. If you are asked to send more money to recover your funds, it is a major warning sign of fraud.

The ASC expects the scam may evolve to try to defraud victims again by offering to recover lost funds for a fee. This is known as a recovery scam. Fraudsters often target recent victims using information from the original scam.

Investors should be aware that social media groups linked to BG Wealth Sharing may change their names to appear as new investment opportunities or to operate as recovery scams.

Protect yourself: Remove scam apps and secure your information

The ASC recommends that anyone involved with BG Wealth Sharing or DSJ EX:

• Exit any group chats (including WhatsApp, Telegram, BonChat or other messaging platforms) associated with the scheme.
• Delete any applications linked to the scheme from your device, including trading or exchange apps you were directed to download.
• Do not engage further with individuals connected to these groups or platforms.
• Secure your personal information and accounts by changing passwords and enabling additional security measures, where available.
• Do not send any additional funds to BG Wealth Sharing or to anyone claiming they can help recover lost funds.
• Visit CheckFirst.ca for more information on how to spot scams and protect yourself.

The ASC is reviewing activity associated with BG Wealth Sharing and continues to work with securities regulators in Canada and the U.S. with an aim to stop further harm to the public.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

SOURCE Alberta Securities Commission

For further information, please contact: For Media inquiries: Tanja McMorris, Senior Advisor, Communications, [email protected]; For Investor inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488, [email protected]