Olympian breakdancer Raygun’s brother accused of crypto-linked crime

Olympian breakdancer Raygun’s brother accused of crypto-linked crime


Australia’s finance watchdog has charged Brendan Gunn, the brother of Olympian breaker Rachael Gunn, for allegedly dealing with money suspected to be proceeds of crime while operating a fiat-to-crypto conversion company.

In a March 5 statement, the Australian Securities and Investments Commission said Gunn was charged with one count of dealing with money that could be reasonably suspected to be the proceeds of crime.

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

Rachael Gunn, better known by her stage name “Raygun,” went viral for her breakdance performances during the 2024 Olympics — one of which saw her hop like a kangaroo. 

okex

She bombed out of the competition, losing all three of her battles at the games. However, her brother still complimented the performance.

Source: Brendan Gunn

In its statement, ASIC said Brendan Gunn was a director at Mormarkets, a company that accepted deposits for conversion to crypto.

“On behalf of Mormarkets, 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,” ASIC claimed.

Gunn faced a local court on March 4 and is expected to return on April 29. If convicted, he faces three years behind bars, a $37,800 fine, or both.

ASIC Chair Joe Longo said the regulator “continues to prioritize scam prevention and detection activity” and will take action where required. 

Information for Gunn’s lawyers was not immediately available. 

It comes as regulators in the country have flagged plans to shift focus toward the crypto industry. 

Related: Australian police find ‘Aladdin’s cave’ of stolen Bitcoin ATMs, Pokemon cards

Australia’s Anti-Money Laundering regulator, the Australian Transaction Reports and Analysis Center, recently took action against 13 remittance service providers and crypto exchanges in February, with over 50 others still being investigated regarding possible compliance issues.

AUSTRAC CEO Brendan Thomas said in December last year the Anti-Money Laundering regulator was shifting its focus to the cryptocurrency industry in 2025 amid a crackdown on crypto ATM providers who might be flouting Anti-Money Laundering laws.

ASIC also released a consultation paper on proposed guidance for crypto in December, placing many digital assets under the category of financial products and requiring firms dealing in crypto to be licensed.

Magazine: Off The Grid’s ‘biggest update yet,’ Rumble Kong League review: Web3 Gamer



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

You have not selected any currency to display

Pin It on Pinterest

Crypto-Moon
Coinmama
Crypto-Moon
Olympian breakdancer Raygun’s brother accused of crypto-linked crime
okex
Changelly
Harvard Enters the Crypto Market With BlackRock’s Bitcoin ETF
Binance teams up with banking giant BBVA to let clients store assets off-exchange
Why BJMINING Attracts Crypto Holders Worldwide
VeWorld Overview: VeChain’s Web3 Super App Enabling Seamless Onboarding for VeBetter
CZ Asks US Bankruptcy Court to Invalidate FTX’s $1.76 Billion Lawsuit
Galaxy Digital adds 4,272 Bitcoin in Q2, reduces ETH, XRP exposure
Ledger
Bybit
Institutions and Big Banks Dominating Crypto Narratives, While Cypherpunk Ethos Retreats
Bitcoin Miner Cleanspark Posts Record $257M Profit, Faces $185M Tariff Dispute
'World’s First' In-Club Art Gallery Launches With Works by Beeple, Mad Dog Jones
Crypto investor charged with kidnapping, torturing an Italian for passwords
Institutions and Big Banks Dominating Crypto Narratives, While Cypherpunk Ethos Retreats
Bitcoin Miner Cleanspark Posts Record $257M Profit, Faces $185M Tariff Dispute
'World’s First' In-Club Art Gallery Launches With Works by Beeple, Mad Dog Jones
Crypto investor charged with kidnapping, torturing an Italian for passwords