Brendan Gunn charged in cryptocurrency laundering sting
The corporate regulator has brought charges against the iconic breakdancer’s brother, alleging he enabled a crypto scam.
Brendan Gunn, brother of Olympian Rachael “Raygun” Gunn, faces up to three years’ jail after being charged with money laundering in connection to a cryptocurrency scam.
Mr Gunn appeared in court on Tuesday charged with dealing with $181,000 in scam money, after a referral from the corporate regulator, amid allegations he assisted scammers to move money.
Mr Gunn, who appeared in the Sydney Downing Centre local court, is alleged to have cashed cheques containing proceeds from three scam victims through his Queensland business Mormarkets.
The court heard Mr Gunn opened a series of bank accounts through Mormarkets, a company he ran since 2019, to receive and transfer cash for cryptocurrency or overseas investment opportunities.
Mr Gunn allegedly opened the accounts, despite other accounts opened by the businessman being closed by other banks due to concerns about scams, with Mr Gunn allegedly being alerted to these concerns.
The Queensland businessman allegedly banked the $181,000 between March and May 2020, with the cash the result of four separate investments from three investors, who were allegedly scammed.
These funds were allegedly intended to be turned into cryptocurrency.
The case against Mr Gunn comes after a referral from the Australian Securities and Investments Commission, which handed the brief to the Commonwealth Department of Public Prosecutions some time ago.
Mr Gunn has held a series of roles in the financial sector, including founding The Hive International, a firm which touts its expertise in “Law, Financial Services, Technology and Energy”.
The firm claims to operate from a string of serviced offices in Sydney, London, and Brisbane.
“Hive International are committed to ensuring that any business undertakings are conducted as ethically as possible,” the business notes.
ASIC chair Joe Longo said the regulator would continue to prioritise scam prevention and detection.
“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.
Mr Gunn, who has previously publicly praised his Olympian sister, did not respond to requests for comment.
He next appears in court on April 29.
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