Gagan Sarkaria and BG Wealth Sharing: Fraud Risk Alert. How It Works and What Victims Can Do (2026)
Gagan Sarkaria promoted BG Wealth Sharing, a collapsed click-a-button app scheme. The British Columbia Securities Commission cited her promo domain in a January 2026 fraud warning. Here is what victims can do now.
By DefendMe Editorial, Intelligence Team · · Hot News
You were told you could double your investment in under sixty days through what a promoter called the world's largest hedge fund for retail investors. You deposited funds, watched the app show gains, and then watched withdrawals stop working entirely. BG Wealth Sharing collapsed in late April 2026, and the people who recruited you have gone quiet or, in some cases, are now sending legal threats to anyone who dares report on it.
If you lost money through BG Wealth Sharing after being recruited by a North American promoter, your experience is consistent with a textbook Ponzi collapse, and there are concrete legal and investigative steps available to you right now.
How It Works
BG Wealth Sharing was marketed as a click-a-button trading app that would generate returns large enough to double a participant's investment within sixty days. Recruits were told they could invest as little as three hundred dollars or as much as ten thousand, and that the platform was fully compliant and legal. These claims were made publicly, on video, at live promotional events across North America.
The scheme relied on a network of MLM-style promoters who recruited new participants and earned commissions on deposits. One of the most visible North American promoters was Gagan Sarkaria, a Dallas-Fort Worth based business coach and self-described life coach who joined the scheme at or around its launch in January 2025. Sarkaria promoted BG Wealth Sharing through her own website domain, through live presentations to Canadian audiences in December 2025, and as a headlining speaker at a promotional event in Utah on April 12th, 2026.
DefendMe analysts identified that the underlying scheme displays structural indicators consistent with a Ponzi operation: promised returns far above market norms, anonymous offshore operators, a recruitment-driven commission structure, and an exit event disguised as a tax-related withdrawal freeze before the platform collapsed entirely in late April 2026. No credible evidence of actual trading activity or a legitimate hedge fund structure has been identified in public records.
Prior to BG Wealth Sharing, Sarkaria was promoting another MLM crypto scheme called Blockchain Sports, describing herself as a founding member of that project. She later used her Blockchain Sports promotional website, hosted on the domain limitless.xyz, to funnel audiences into BG Wealth Sharing, creating a pipeline between two schemes that both display characteristics of fraudulent investment operations.
Red Flags. What Victims Reported
- Promised to double investor deposits in under sixty days with no credible explanation of how returns are generated
- Promoters claimed the platform was fully compliant and legal with no regulatory registration evidence provided
- British Columbia Securities Commission issued a formal fraud warning citing the scheme and naming the promoter's domain in January 2026
- FBI, DOJ, and US Secret Service seized the platform's original website domain in April 2026
- Platform collapsed with a fake tax-related withdrawal freeze used as an exit mechanism in late April 2026
- Lead North American promoter disabled her promotional domain and deactivated her Facebook profile after the collapse
- Same promoter had previously recruited for at least one other MLM crypto scheme (Blockchain Sports) before pivoting to BG Wealth Sharing
- Operators of the underlying platform are described as anonymous Chinese scammers with no verifiable corporate identity
- Promoter issued legal threats to a journalist reporting on the collapse rather than addressing victim losses publicly
- No public acknowledgment of victim losses or refund process from the promoter following the collapse
Investigation Findings
The British Columbia Securities Commission (BCSC) issued a formal fraud warning about BG Wealth Sharing in January 2026. Publicly available records of that warning specifically cited the promotional domain limitless.xyz, a site operated by Gagan Sarkaria to recruit investors into the scheme. That citation places Sarkaria's promotion activity directly within the scope of a securities regulator's fraud finding.
In April 2026, a joint operation involving the FBI, the US Department of Justice, and the US Secret Service resulted in the seizure of BG Wealth Sharing's original website domain. Domain seizure by federal law enforcement agencies is a standard enforcement step taken when authorities have identified a scheme as fraudulent and are building or pursuing a criminal case. Federal investigations into BG Wealth Sharing are believed to be ongoing as of the date of this report, according to open-source reporting reviewed by DefendMe analysts.
On May 13th, 2026, Sarkaria sent a cease-and-desist notice to a journalist who had published and livestreamed coverage of her BG Wealth Sharing promotion activities. The notice demanded that the journalist stop publishing statements about her involvement with BG Wealth Sharing, characterizing her well-documented promotional work as alleged involvement. Publicly available video recordings show Sarkaria presenting at a BG Wealth Sharing event in Utah on April 12th, 2026, and making promotional claims to a Canadian audience in December 2025. Sarkaria disabled her limitless.xyz domain and deactivated her Facebook profile following the platform's collapse.
Under US federal law, promoting unregistered securities constitutes securities fraud, which is also routinely charged as wire fraud when electronic communications are used. At the state level, the Texas State Securities Board has civil and criminal jurisdiction over securities fraud committed by Texas residents. Civil fraud lawsuits by victims against individual promoters are a separate avenue that does not depend on criminal charges being filed.
Criminal Context and Enforcement Landscape
BG Wealth Sharing sits within a well-documented category of click-a-button app Ponzi schemes that have proliferated since 2020. These schemes are typically operated by anonymous overseas actors who build a polished mobile app, recruit MLM-style promoters in English-speaking markets to handle local recruitment, and exit by inventing a reason to freeze withdrawals before disappearing. The promoters are left to face victims, regulators, and journalists while the operators move on to the next scheme.
In this case, official action is documented and significant. The British Columbia Securities Commission issued a fraud warning naming BG Wealth Sharing in January 2026 (BCSC public notice, January 2026). A joint FBI, DOJ, and US Secret Service operation seized the platform's primary domain in April 2026, a step that US federal agencies take when a scheme has been identified as criminal and an investigation is underway. Open-source records indicate federal investigations are ongoing.
For promoters who recruited investors, the legal exposure is real and does not require waiting for criminal charges. The SEC handles civil securities fraud at the federal level. The DOJ and FBI handle criminal securities fraud and wire fraud charges. The Texas State Securities Board can act against Texas-based promoters at the state level. Victims who suffered documented losses also have the option of filing civil fraud actions directly against individual promoters, independent of any government enforcement timeline.
What Victims Should Do Now
- Stop all deposits immediately. Do not send any additional funds to BG Wealth Sharing or any platform claiming to be its successor.
- Do not pay any recovery fee. Any person or service promising to recover your BG Wealth Sharing funds in exchange for an upfront payment is running a secondary scam targeting the same victims.
- Preserve all evidence now. Screenshot or download your account dashboard, deposit confirmations, withdrawal refusals, chat logs, emails, promotional materials, and any video or audio recordings. Store copies in at least two separate locations.
- Do not contact the promoter or the platform operator directly. Any communication you initiate can be used to complicate your legal position and may alert operators to destroy records.
- Report to authorities. In the US, file a complaint with the FBI Internet Crime Complaint Center (IC3) at ic3.gov, the SEC at sec.gov/tcr, and the Texas State Securities Board if you were recruited by a Texas-based promoter. In Canada, file with your provincial securities commission.
- Record the full money trail. Gather every wallet address, bank transfer record, and payment reference number linked to your deposits. Blockchain records are permanent and can support tracing and recovery efforts.
- Consult a specialist platform. DefendMe offers crypto tracing tools and case documentation support to help victims build a record suitable for regulatory complaints and civil proceedings.