# Regulators Issue Fraud Warnings Against BG Wealth Sharing

**Published:** 2026-05-29T04:53:05.000Z  
**Topic:** Crypto Scam  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/0d064910-ba10-4f43-b1b4-b24ce3f9f830

Financial regulators in Utah, Alaska, and other regions are warning investors about BG Wealth Sharing, a suspected cryptocurrency investment fraud scheme.

Financial regulators across multiple jurisdictions have issued urgent alerts regarding BG Wealth Sharing Ltd. and its associated platform, DSJ Exchange, characterizing the entities as part of a widespread, suspected cryptocurrency investment fraud scheme [1]. Authorities warn that the organization, which has operated through social media, private messaging apps, and recruitment-based networks, lacks proper registration to sell securities or provide investment advice [1, 3].

**Key takeaways**
* Regulators in Utah, Alaska, Hawaii, Washington, and several international jurisdictions have issued formal warnings or cease-and-desist orders against BG Wealth Sharing [1, 3].
* The scheme allegedly uses private messaging platforms like WhatsApp, Telegram, and Signal to provide "trading signals" and maintain anonymity [1].
* Investors report being asked to pay a 12% "recovery fee" to access their account balances, a practice officials identify as a common scam tactic [2, 3].
* The Utah Division of Securities states there is no record of the company being registered to sell securities, despite claims that it is a major hedge fund [1, 3].
* Evidence suggests the platform’s reported account balances may be fabricated to build trust, with no proof that legitimate trading transactions occurred [3].

## The mechanics of the alleged scheme
BG Wealth Sharing has utilized high-profile events, including a gathering at the Mountain America Expo Center in Utah, to attract participants with promises of substantial returns and prizes like vehicles and electronics [3]. According to state regulators, the company operates as an invitation-only opportunity where existing members are encouraged to recruit friends and family through referral bonuses [1, 2]. Once involved, investors are directed to create accounts on DSJ Exchange, a purported trading platform linked to the group [1].

The operation relies heavily on anonymity and rotating web domains to avoid detection [1, 2]. While the company has claimed to be the "world’s largest hedge fund," the Utah Division of Securities noted that the entity falsely claimed to be licensed by the Securities and Exchange Commission [1, 3]. In Utah, a business license application was submitted for a local office, but officials found the location locked with a note indicating the business was still awaiting approval [3].

## Exit-scam tactics and investor losses
As the scheme has faced increased scrutiny, investors have reported being unable to withdraw their funds [3]. Many participants were told they must pay an additional 12% of their balance as a "recovery fee" to access their money, a demand that regulators warn is a hallmark of fraudulent activity [2, 3]. Following this, some investors were reportedly asked for an additional $1,000, though that specific demand was retracted shortly after [2]. 

Robert Cummings, director of the Utah Division of Securities, has explicitly labeled the organization an international fraud [3]. Reports indicate that the original iteration of the platform collapsed in April 2026, leading to various attempted reboots under different names and domains coordinated through private messaging channels [2, 3].

## Why it matters
The collapse of BG Wealth Sharing leaves many investors, who were often motivated by a desire to support their families, unable to recover their capital [3]. Regulators emphasize that investors should never send money to third parties or pay upfront fees to access their own accounts [1, 3]. Authorities in Utah and Alaska are urging anyone who has interacted with these entities to file formal complaints with their respective state divisions and the Internet Crime Complaint Center to assist in ongoing investigations [1, 3].

## Sources
1. Juneauempire — [Alaskans warned of suspected cryptocurrency investment fraud](https://www.juneauempire.com/2026/05/26/alaskans-warned-of-suspected-cryptocurrency-investment-fraud/)
2. Behindmlm — [BG Wealth Sharing & DSJEX fraud warning from Alaska](https://behindmlm.com/mlm-reviews/bg-wealth-sharing-dsjex-fraud-warning-from-alaska/)
3. Totalnews — [Residents of Utah alerted to potential fraud by cryptocurrency...](https://totalnews.com/residents-of-utah-alerted-to-potential-fraud-by-cryptocurrency-investment-company-bg-wealth-sharing/)

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Cite as: TrendWatcher, "Regulators Issue Fraud Warnings Against BG Wealth Sharing", https://www.trendwatcher.in/article/0d064910-ba10-4f43-b1b4-b24ce3f9f830