Brendan Gunn, the brother of Olympic breakdancer Rachael Gunn, also known as Raygun, has been charged with allegedly handling money believed to be the proceeds of crime. Brendan, from Camp Hill in Queensland, appeared yesterday at the Sydney Downing Centre Local Court in connection with one charge under the Criminal Code.
The Australian Securities and Investments Commission (ASIC) has accused him of dealing with over $100,000 that was suspected to be illegal proceeds between 19 March and 15 May 2020. During this period, he was serving as the director of Mormarkets, a position he has held since 2019. Brendan’s alleged dealings involved two bank cheques linked to four investments, totalling $181,000, from three investors seeking to convert their funds into cryptocurrency.
According to ASIC, he set up multiple bank accounts to facilitate ongoing deposits and withdrawals. However, these accounts were reportedly closed on numerous occasions due to suspicions of fraudulent activities, of which Brendan was made aware.
The investigation has been escalated to the Commonwealth Director of Public Prosecutions (CDPP), who is now pursuing the matter in court. Brendan faces a potential penalty of up to three years in prison, a fine of $37,800, or both. His next court appearance is scheduled for 29 April.
ASIC chairman Joe Longo commented on the case, emphasising his agency’s commitment to tackling individuals involved in cross-border scams targeting Australian investors. He reiterated ASIC’s focus on scam prevention and detection to ensure consumer protection and highlighted their collaboration with international law enforcement to address misconduct.
In addition to his role at Mormarkets, Brendan holds directorial positions at Geomarkets, Celcius, ODESI, and The Hive International, where he describes himself as pursuing his ambition of becoming a successful entrepreneur.
Rachael Gunn has recently gained fame for her performance in breakdancing at the Paris Olympics, capturing public attention after her viral appearance. Brendan publicly expressed his pride for his sister on social media, declaring her a winner in his eyes, despite the current legal troubles he faces.
As the case unfolds, 9news.com.au has reached out to Brendan for further comments.