Brendan Gunn, brother of Olympian Raygun, charged with dealing with crime proceeds

The brother of Australian Olympian Raygun has been charged with dealing with the proceeds of crime.

The brother of Australian Olympian Raygun has been charged with dealing with money suspected to be the proceeds of crime.

The Australian Securities and Investments Commission (ASIC) alleges Brendan Gunn, from Camp Hill in Queensland, dealt with money or other property, it being reasonable to suspect that the money or property was the proceeds of crime of $100,000 or more, between about March 19, 2020 and May 15, 2020.

Brendan Gunn, from Camp Hill in Queensland, is facing a single charge of dealing with money suspected to be the proceeds of crime. Picture: Supplied

Mr Gunn is the brother of Olympian Rachael 'Raygun' Gunn. Picture: Supplied

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

In a statement, the ASIC said Mr Gunn was a director of Mormarkets Pty Ltd, a company that accepted deposits from Australians for conversion to cryptocurrency and other purported overseas investment opportunities.

“On behalf of Mormarkets Pty Ltd, Mr Gunn (allegedly) 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,” the watchdog said.

Mr Gunn faces a maximum penalty of three years imprisonment or a $37,800 fine, or both, if convicted.

He will return to court on April 29.

The matter is being prosecuted by the Commonwealth Director of Public Prosecutions following an investigation and referral by ASIC.

In a post on his X (formerly Twitter) account in August last year, Mr Gunn backed his sister after her performance at the Paris Olympics sparked backlash.

Could not be prouder of my amazing sister #raygun aka Rachael Gunn who did an incredible job competing in a brand new Olympic sport representing this great country. 🇦🇺

You will always be a winner to me 🏆👌🦘

— Brendan Gunn (@BrendanGunn_) August 10, 2024

“Could not be prouder of my amazing sister #raygun aka Rachael Gunn who did an incredible job competing in a brand new Olympic sport representing this great country,” Mr Gunn wrote in support.

“You will always be a winner to me.”

More to come