BG Wealth Sharing has received a cease and desist order from the Philippine SEC.

The SEC’s May 20th order names BG Wealth Sharing and fictional CEO Stephen Beard as respondents.

The SEC notes that, despite previously issuing a BG Wealth Sharing fraud warning, filipinos are still being targeted by scammers.

The Commission has received reports and information the solicitation activities of “BG WEALTH SHARING LTD.” through STEPHEN BEARD.

“BG WEALTH SHARING LTD.” entice the public, particularly Overseas Filipino Workers (OFW).

Stephen Beard is an AI creation. Having previously appeared in BG Wealth Sharing marketing videos, today Beard only exists in social media accounts run by Chinese scammers.

The SEC notes BG Wealth Sharing scammers are primarily targeting filipinos through FaceBook.

Citing BG Wealth Sharing’s ongoing securities fraud in the Philippines, the SEC has ordered the Ponzi scheme to “immediately cease and desist from further engaging in” securities fraud.

The cease and desist also applies to promoters of BG Wealth Sharing targeting filipinos.

The SEC warns the failure to adhere to the cease and desist may result in criminal charges being brought.

The Commission through the EIPD will initiate the appropriate administrative and criminal action against any persons or entities found to act as solicitors, information providers, salesmen, agents, brokers, dealers or the like for and in their behalf.

BG Wealth Sharing is an MLM “click a button” app Ponzi run by Chinese scammers. BehindMLM has documented hundreds of the scams since they first emerged back in 2021.

DSJ Exchange, or DSJEX, is a fake crypto trading platform attached to BG Wealth Sharing. BG Wealth Sharing’s specific Ponzi ruse was bogus trading signals provided by DSJEX.

The original iteration of BG Wealth Sharing collapsed in late April 2026. Pending further action from authorities, BG Wealth Sharing investors, most of whom are victims who lost money, are now trapped between a “fake taxes” exit-scam and attempted reboot.

The BG Wealth Sharing “fake taxes” exit-scam has seen scammers running the Ponzi demand a 12% recovery fee. Outside of a few suspect withdrawal claims on social media, investors who the pay add to existing losses.

After the 12% recovery fee BG Wealth Sharing demanded an additional $1000 from each investor. The fee was announced and then dropped within 48 hours.

Currently three known BG Wealth Sharing reboots are being coordinated over Telegram and BonChat.

  1. various hqiXX.com domains – HQI Exchange, BG Wealth Sharing reboot with DSJ Exchange switched out for HQI Exchange
  2. bgwealthltd.7324.app (also bgw.7324.app) – domain privately registered on May 9th, 2026
  3. zxa220.net – privately registered April 30th, 2026
  4. zxb321.net – privately registered April 30th, 2026
  5. cdw723.icu – privately registered April 30th, 2026
  6. vfe926.com – privately registered April 30th, 2026

These are all Ponzi schemes run by the same Chinese scammers.