Brother of Australian Olympic Breakdancer Charged in $181,000 Crypto Fraud Case

Brendan Gunn, sibling of viral Olympic breakdancer Rachael 'Raygun' Gunn, faces allegations of handling proceeds of crime through his crypto investment firm.

• Brendan Gunn, director of the Australian firm Mormarkets, is accused by the Australian Securities and Investments Commission (ASIC) of handling $181,000 in suspected criminal proceeds.
• The funds, reportedly from three investors, were deposited for cryptocurrency conversion and linked to two bank cheques under Gunn's management.
• ASIC alleges Gunn opened multiple bank accounts for these transactions, which were repeatedly closed due to scam-related concerns raised by banks.
• If convicted, Gunn faces a maximum penalty of three years in prison, a fine of $37,800, or both, with his next court appearance scheduled for April 29, 2025.
• The case highlights ASIC's ongoing efforts to combat crypto-related scams, as crypto crime revenue reportedly increased by 40% in 2024 despite a prior decline.

3 Articles

Decrypt CoinDesk 9News