The BG Wealth Sharing scam did more than take money from its victims; it used trust, personal relationships and community connections to expand and draw in new victims. The impacts were significant: they affected the financial security of many Albertans and damaged trust among friends, families and communities. Understanding how the scam operated can help investors recognize similar warning signs and take steps to protect themselves.
How the BG Wealth Sharing scam worked
In early 2026, the Alberta Securities Commission (ASC) issued its first investor warning about BG Wealth Sharing, an online crypto and multi-level marketing (MLM) scam, after concerns were raised about its investment-related activities and its connection to the online trading platform DSJ Exchange (also known as DSJ EX). According to the ASC’s warning, BG Wealth Sharing marketed itself as a hedge fund, claiming to use AI-generated trading signals to produce guaranteed returns and grow investors’ funds rapidly. The opportunity was promoted through recruiters, social media, messaging apps and in-person events.
Investors were reportedly told to deposit crypto through DSJ Exchange and enter “signal codes” shared through encrypted messaging platforms. Participants were shown account balances that were likely fake but appeared to confirm high returns, helping build confidence in the platform.
When victims of this scam tried to access their money, they were met with difficulty withdrawing their funds. They reported high withdrawal fees, management approval requirements and delays. Some participants said they were asked to pay a 12 per cent “tax” to make a withdrawal.
In May 2026, the ASC issued several cease-and-desist letters to promoters associated with BG Wealth Sharing and DSJ Exchange. There was no evidence of legitimate trading activity on the platform, and the ASC again warned victims not to send any additional funds.
It’s important for investors to take note of warnings, like those shared by the ASC related to BG Wealth Sharing. These kinds of notices or cautions can help investors make informed decisions and better protect themselves from fraud.
What investors should know
Investment scams are designed to appear sophisticated, but many share common red flags of potential fraud. The BG Wealth Sharing case highlights several red flags for investors to look out for:
- Unrealistic returns: All investments carry risk, and no legitimate investments can guarantee high returns. Promises of unrealistic returns are a red flag to pay attention to.
- Changing website and communication channels: Fraudulent schemes often use multiple website domains and private encrypted messaging apps, like WhatsApp, Telegram or BonChat, to avoid detection and continue attracting new investors. Scammers may also attempt to rebrand the original scam under new names to continue the scam.
- Unverified trading platforms: Investors should be cautious when asked to transfer funds to unfamiliar platforms. In this case, BG Wealth used a fake trading platform called DSJ Exchange. If you cannot easily find information about how the platform operates, who runs it or where your money is being held, it could be a sign of fraud.
- Difficulty accessing funds: Trouble retrieving funds, unexpected fees or additional payment requests before a withdrawal can be processed are major warning signs that investors should take seriously. No legitimate investment company or advisor will require you to pay fees or taxes upfront to access your money.
- Beware of recovery scams: Scammers sometimes continue the scam by offering services to help victims of fraud recover lost investor funds for a fee. These offers may come through phone calls, email, social media or messaging apps and often appear shortly after a victim has lost money in an investment scheme.
Protecting yourself before you invest
The BG Wealth Sharing scam is a reminder that taking a few steps before investing can help protect your money. Before you invest:
- Verify registration on CheckFirst: Please ensure that the firm or individual you are investing with is registered with the Alberta Securities Commission or another regulator. Confirm registration through CheckFirst.
- Research before investing: Understand how the investment works, where your money is held and who is involved before investing.
- Keep up with securities regulators: Consistently check for investor alerts, caution lists and enforcement actions issued by securities regulators.
- Always ask, don’t assume: If any investment-related activity seems unclear, ask questions and seek advice from a registered individual or firm, or a reputable source that you know you can trust.
The BG Wealth Sharing case highlights several warning signs commonly found in investment scams, including promises of guaranteed returns, unverified platforms and difficulty accessing funds. Taking time to research an opportunity and verify registration can help protect you and your money before you invest.
If you suspect that you are involved with something that is potentially fraudulent, please contact the ASC. Complaints can be filed using the online complaint form or by calling us at 403-355-3888.
