BG Wealth Sharing Securities Fraud Cease and Desist from Texas
The Texas State Securities Board (TSSB) has issued a securities fraud cease and desist order against BG Wealth Sharing. The order was filed on June 3, 2026.
Respondents Named in the Order
The TSSB order names five respondents:
- BG Wealth Sharing – A “click a button” app Ponzi scheme run by Chinese scammers based in Cambodia.
- DSJ Exchange PTY LTD – A fake crypto exchange created by the same scammers.
- Thaddious Thomas – Texas-based promoter.
- BG Wealth Texas – Texas corporation registered by Thaddious Thomas.
- Gagandeep Sarkaria (also known as Gagan Sarkaria) – Texas-based promoter.
How the BG Wealth Sharing Scam Worked
BG Wealth Sharing operated as a typical “click a button” Ponzi. Investors downloaded an app, deposited USDT (Tether), and clicked a button daily to earn promised returns. The scheme used fake trading signals and the phony DSJ Exchange platform.
Communication with victims mainly occurred through BonChat and Telegram.
Misleading Regulatory Claims
To appear legitimate, BG Wealth Sharing used several common scam tactics:
- Filed a Form D with the SEC and claimed Exempt Reporting Adviser status.
- Registered a Money Services Business (MSB) with FinCEN.
- Obtained an MSB license.
- Used a falsified certificate claiming SEC registration as a dealer and investment adviser.
The TSSB noted that none of these filings approve, endorse, or regulate the company. Scammers misused them to create a false impression of government oversight.
Texas Promoters Involved
- Thaddious Thomas registered BG Wealth Texas to host promotional meetings and presentations in Pearland, Texas.
- Gagan Sarkaria organized in-person events and online presentations to recruit new investors in Texas. She even referenced the fake FinCEN registration during promotions.
Collapse and Reboots
The original BG Wealth Sharing collapsed in late April 2026. Victims faced a “fake taxes” exit scam, followed by a demand for an extra $1,000 fee. The scheme then relaunched as HQI Exchange with a $100 entry fee. HQI Exchange stopped withdrawals on May 31, 2026.
Both Thomas and Sarkaria began deleting their promotional content after the collapse. Sarkaria even threatened legal action against critics.
TSSB’s Cease and Desist Orders
The Texas State Securities Board has ordered all respondents to immediately:
- Stop offering or selling any securities in Texas.
- Stop acting as securities dealers, agents, or investment advisers in Texas.
- Stop engaging in fraud related to securities.
- Stop using misleading statements in offers.
