5 months ago
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Australia’s concern watchdog has charged Brendan Gunn, the member of Olympian breaker Rachael Gunn, for allegedly dealing with wealth suspected to beryllium proceeds of transgression portion operating a fiat-to-crypto conversion company.
In a March 5 statement, the Australian Securities and Investments Commission said Gunn was charged with 1 number of dealing with wealth that could beryllium reasonably suspected to beryllium the proceeds of crime.
“It is alleged that Mr Gunn dealt with 2 slope cheques, which contained the proceeds of 4 concern amounts totaling $181,000 made by 3 unfortunate investors who deposited funds for conversion to cryptocurrency,” ASIC said successful its statement.
Rachael Gunn, amended known by her signifier sanction “Raygun,” went viral for her breakdance performances during the 2024 Olympics — 1 of which saw her hop similar a kangaroo.
She bombed retired of the competition, losing each 3 of her battles astatine the games. However, her member inactive complimented the performance.
Source: Brendan Gunn
In its statement, ASIC said Brendan Gunn was a manager astatine Mormarkets, a institution that accepted deposits for conversion to crypto.
“On behalf of Mormarkets, Mr Gunn sought to unfastened a bid of slope accounts connected an ongoing ground to person and transportation deposits, contempt slope accounts being repeatedly closed owed to concerns astir scams and Mr Gunn being informed of these concerns,” ASIC claimed.
Gunn faced a section tribunal connected March 4 and is expected to instrumentality connected April 29. If convicted, helium faces 3 years down bars, a $37,800 fine, oregon both.
ASIC Chair Joe Longo said the regulator “continues to prioritize scam prevention and detection activity” and volition instrumentality enactment wherever required.
Information for Gunn’s lawyers was not instantly available.
It comes arsenic regulators successful the state person flagged plans to displacement absorption toward the crypto industry.
Related: Australian constabulary 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 enactment against 13 remittance work providers and crypto exchanges successful February, with implicit 50 others inactive being investigated regarding imaginable compliance issues.
AUSTRAC CEO Brendan Thomas said successful December past twelvemonth the Anti-Money Laundering regulator was shifting its absorption to the cryptocurrency industry successful 2025 amid a crackdown connected crypto ATM providers who mightiness beryllium flouting Anti-Money Laundering laws.
ASIC also released a consultation insubstantial connected projected guidance for crypto successful December, placing galore integer assets nether the class of fiscal products and requiring firms dealing successful crypto to beryllium licensed.
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