Olympian breakdancer Raygun’s brother charged in $100K crypto fraud #CriptoNews

Olympian Rachael “Raygun” Gunn’s brother has been charged for allegedly handling money totaling more than $100,000 that was the proceeds of crime.

Raygun shot to fame for her performance during breakdancing’s debut at last year’s Paris Olympic Games.

Her brother, Brendan Gunn from Camp Hill, Queensland, is a director of Mormarkets Pty Ltd, a company that accepts deposits for conversion to cryptocurrency and other investment opportunities.

The Australian Securities and Investments Commission (ASIC) investigated Mormarkets and released a statement detailing the allegations against Gunn.

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

“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.”

Gunn appeared in Downing Centre Local Court on Tuesday.

If Gunn is convicted, he faces a maximum penalty of three years’ imprisonment, a $37,800 fine or both.

ASIC chairman Joe Longo added: “ASIC continues to prioritize scam prevention and detection activity to protect consumers.

“We will continue to partner with international law enforcement organizations and investigate and take action where we see misconduct.

“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.”

It is not alleged that Raygun is involved in any wrongdoing, with Brendan Gunn to return to court on April 29.

Raygun shot to fame for her performance at the Paris Games, which was widely panned around the world.

But her brother Brendan publicly supported her on social media at the time.

In a post on X on August 10 last year, Brendan wrote: “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.”

In a subsequent post retweeting a video of Aussie athletes dancing with Raygun ahead of the Closing Ceremony, Brendan wrote: “Doesn’t surprise me at all. We love you @rachlgunn.

“This is just another example of your unique and beautiful spirit. #RayGun getting the love she deserves.”