TLDR
- Brendan Gunn, sibling to the celebrated Rachael 'Raygun' Gunn, has found himself in legal trouble due to accusations surrounding illicit financial dealings.
- Allegedly, he managed a hefty sum of $181,000 from three individuals investing in cryptocurrency conversion.
- Gunn held a directorial role at Mormarkets, a company trading fiat for digital currency.
- If found guilty, Gunn might spend three years behind bars, pay a $37,800 fine, or confront both penalties.
- This case fits into a larger trend in Australia, where officials are honing in on cryptocurrency oversight.
Rachael 'Raygun' Gunn's brother from the Australian Olympic team is now under legal scrutiny. He faces accusations related to handling suspicious funds through his crypto exchange business. Brendan Gunn's court journey began on March 4, 2025, at Sydney's legal hub and will continue on April 29.
The Australian Securities and Investments Commission asserts that Gunn worked with two bank drafts linked to $181,000 in investments meant for crypto conversions.
During his time with Mormarkets, Gunn attempted to set up various bank accounts for handling deposits, reflecting ASIC's claims.
Repeated account closures due to scam alerts did not deter Gunn, per ASIC's accusations, as he pursued fresh banking venues.
A conviction could mean a triple-year sentence for Gunn, a sizable fine, or both, tied to mishandling crime proceeds over $100,000.
Three Years in Prison
Joe Longo from ASIC maintains a proactive stance against scams, vowing actions against those facilitating international fraud targeting Australians.
With the Gunn case unfolding, Australian regulators are signaling heightened vigilance toward crypto industries due to rising fraud fears.
AUSTRAC, Australia's money laundering watchdog, has recently targeted over a dozen crypto and remittance services, with ongoing investigations into many more.
AUSTRAC's CEO, Brendan Thomas, indicated a shift towards tougher cryptocurrency scrutiny in 2025, especially against potential law-breaking crypto ATMs.
ASIC's December release included a draft guideline reclassifying many crypto assets under financial products, pressing for licensed operations.
Rachael 'Raygun' Gunn, Brendan's sister, garnered fame for her amazing breakdance routines at the 2024 Paris Olympics, notably one that charmed viewers with its kangaroo theme.
Her sibling expressed immense pride over social media, applauding her breakthrough Olympic performance in a sporting debut for the nation.
Rachael 'Raygun' Gunn continues to inspire, as her brother admires her resilience and spirit, dubbing her a lifelong champion. #raygun Despite Rachael's Olympic setbacks, Gunn showed his admiration through a heartfelt message on social platform X, acknowledging her as a national icon.
Gunn's social profile paints him as an enthusiast of finances, technology, and sports, pursuing entrepreneurial success.
— Brendan Gunn (@BrendanGunn_) August 10, 2024
There's no available information on who represents Gunn legally, spotlighting the broader crackdown on cryptocurrency ventures in Australia.
Charges against Gunn are part of an Australian initiative against dubious financial dealings in the crypto world.
Blockonomi's Editor-in-Chief, a staunch supporter of open-source software and blockchain, is also the mind behind Kooc Media in the UK.
His work has caught the attention of industry giants like Nasdaq and Forbes, and he remains a contact point at Oliver@level-up-casino-app.com.
