Laura D'Allaird of the SEC Enforcement Division stated that BG Wealth Sharing Ltd. and DSJ Exchange Pty Ltd. displayed fake SEC certificates while making periodic Ponzi-like payments to investors to maintain confidence.

From the articleSEC Charges Two Companies In $130 Million Crypto Trading SchemeAlso in US Regulator Charges Two Firms Over Alleged $130M Crypto Investment Fraud, SEC Says $130 Million Crypto Scheme Used the Agency's Own Databases to Look Registered - Unchained