Australian Olympic Breakdancer Rachel "Raygun" Gunn is best-known for her kangaroo-like hopping at the Olympics in 2024. Now her name is linked with Brendan Gunn’s, accused of crypto-fraud.
Brendan Gunn has been charged by the Australian Finance Regulator with dealings with money which could reasonably be suspected as being proceeds of criminal activity.
Securities and Investments Commission, in an official statement on March 5, stated that "Mr. Gunn dealt with two bank cheques, which contained the proceeds of four investment amounts totaling $181,000 made by three victim investors who deposited funds for conversion to cryptocurrency."
Gunn had access to funds as he was the director of Mormarkets. This company accepted deposits and converted them to crypto.
The regulator noted: “Mr. Gunn, on behalf of Mormarkets sought to continuously open bank accounts in order to receive deposits and to transfer them, despite the fact that bank accounts had been closed multiple times due to fears about scams. Mr. Gunn also knew of this concern."
While Gunn was in local court on March 4, he is set to return on April 29. During that proceeding, he could be facing a sentence of three years in prison, a fine of $37,800—or both.
This public case comes as the ASIC Chair Joe Longo says the regulator "Continues to prioritise scam detection and prevention." This is following a countrywide focus shift towards the crypto industry.
This also comes following a warning by ASIC that crypto crimes are ongoing despite a drop this time last year.
More recently, in a UK report related to a six-figure "pig butchering" scam, it was found that crypto crime revenue was up 40% in 2024.
Gunn’s lawyers did not share any additional information Decrypt Press time is as of this time.
Stacy Elliott is the editor.