Raygun’s brother Brendan Gunn charged with allegedly handling more than $100,000 being the proceeds of crime

The brother of controversial Olympic breakdancer Rachael “Raygun” Gunn has been charged with allegedly handling more than $100,000 being the proceeds of crime.

The brother of controversial Olympic breakdancer Rachael “Raygun” Gunn has been charged with allegedly handling more than $100,000 being the proceeds of crime.

Brendan Gunn, from Camp Hill, Queensland, appeared at Sydney Downing Centre Local Court on Tuesday charged with one count of "breaching the Criminal Code’’, according to the Australian Securities and Investments Commission (ASIC).

Mr Gunn is the director of Mormarkets Pty Ltd, which has been investigated by ASIC over the alleged scam.

The company, led by Mr Gunn, allegedly accepted deposits from Australian investors for conversion to cryptocurrency and overseas investment.

The Australian Securities and Investments Commission (ASIC) in a statement released today said Mr Gunn, between March 19, 2020, and May 15, 2020, dealt with money or other property with it being "reasonable to suspect’’ that the money or property was proceeds of crime of $100,000 or more.

Brendan Gunn. Picture: Facebook

Raygun during a backyard cricket event at Kirribilli House. Picture: Christian Gillies

"It is alleged that Mr Gunn dealt with two bank cheques, which contained the proceeds of four investment amounts totalling $181,000 made by three victim investors who deposited funds for conversion to cryptocurrency,’’ the ASIC statement said.

"On behalf of Mormarkets Pty Ltd, Mr Gunn sought to open a series of bank accounts on an ongoing basis to receive and transfer deposits, despite bank accounts being repeatedly closed due to concerns about scams and Mr Gunn being informed of these concerns.’’

Mr Gunn faces a maximum penalty of three years jail or a fine of $37,800 or both if found guilty.

ASIC chair Joe Longo said it prioritised scam prevention and would continue partnering with international law enforcement organisations to investigate misconduct.

"This matter reflects ASIC’s commitment to pursue those in Australia who it is alleged are involved in facilitating cross-border scams targeting Australian investors,’’ he said.

ASIC has referred the case to the Commonwealth Director of Prosecutions, which has confirmed to the Herald Sun it is prosecuting the case.

Mr Gunn’s sister, known as “Raygun’’, gained worldwide attention for her unorthodox breakdancing performance at the Paris Olympics which went viral.

Mr Gunn will next face court on April 29.