{"id":13840,"date":"2025-03-05T15:05:45","date_gmt":"2025-03-05T15:05:45","guid":{"rendered":"https:\/\/www.cryptometer.io\/news\/?p=13840"},"modified":"2025-03-05T14:05:54","modified_gmt":"2025-03-05T14:05:54","slug":"olympian-breakdancers-brother-charged-in-crypto-crime-case","status":"publish","type":"post","link":"https:\/\/www.cryptometer.io\/news\/olympian-breakdancers-brother-charged-in-crypto-crime-case\/","title":{"rendered":"Olympian Breakdancer\u2019s Brother Charged in Crypto Crime Case"},"content":{"rendered":"\n<p>Brendan Gunn, the brother of Australian Olympian breakdancer Rachael &#8220;Raygun&#8221; Gunn, has been charged with dealing in funds suspected to be proceeds of crime while running a fiat-to-crypto conversion business.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-allegations-of-crypto-related-fraud\">Allegations of Crypto-Related Fraud<\/h3>\n\n\n\n<p>Australia\u2019s financial watchdog, the Australian Securities and Investments Commission (ASIC), announced on March 5 that Gunn faces one count of dealing with money that could be reasonably suspected of being linked to criminal activity.<\/p>\n\n\n\n<p>According to ASIC, Gunn allegedly handled two bank cheques totaling $181,000\u2014funds from three victims who deposited money for cryptocurrency conversion.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-role-in-crypto-transactions\">Role in Crypto Transactions<\/h3>\n\n\n\n<p>Gunn served as a director at Mormarkets, a company that facilitated fiat-to-crypto transactions. ASIC claims that:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Gunn repeatedly opened bank accounts for Mormarkets despite previous accounts being shut down due to scam concerns.<\/li>\n\n\n\n<li>Banks had warned him about these concerns, yet he continued operations.<\/li>\n<\/ul>\n\n\n\n<p>Gunn appeared in court on March 4 and is scheduled to return on April 29. If convicted, he could face up to three years in prison, a $37,800 fine, or both.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-australia-s-crypto-crackdown\">Australia\u2019s Crypto Crackdown<\/h3>\n\n\n\n<p>ASIC Chair Joe Longo reaffirmed the regulator\u2019s focus on scam prevention, stating that authorities will take necessary action against fraudulent activities.<\/p>\n\n\n\n<p>Meanwhile, Australia\u2019s Anti-Money Laundering regulator, AUSTRAC, has ramped up its scrutiny of the crypto industry. In February, it took action against 13 remittance service providers and crypto exchanges, with over 50 others still under investigation for potential compliance violations.<\/p>\n\n\n\n<p>AUSTRAC CEO Brendan Thomas previously stated that regulators would intensify their oversight of the crypto industry in 2025, targeting crypto ATM providers and businesses that may be sidestepping anti-money laundering laws. Additionally, ASIC has proposed new guidance that could classify many digital assets as financial products, requiring firms to obtain proper licensing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brendan Gunn, the brother of Australian Olympian breakdancer Rachael &#8220;Raygun&#8221; Gunn, has been charged with dealing in funds suspected to be proceeds of crime while running a fiat-to-crypto conversion business. Allegations of Crypto-Related Fraud Australia\u2019s financial watchdog, the Australian Securities and Investments Commission (ASIC), announced on March 5 that Gunn faces one count of dealing [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":4689,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2,43],"tags":[],"class_list":{"0":"post-13840","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-featured","8":"category-general-news"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Olympian Breakdancer\u2019s Brother Charged in Crypto Crime Case<\/title>\n<meta name=\"description\" content=\"Brendan Gunn, the brother of Australian Olympian breakdancer Rachael &quot;Raygun&quot; Gunn, has been charged with dealing in funds suspected to be proceeds of\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cryptometer.io\/news\/olympian-breakdancers-brother-charged-in-crypto-crime-case\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Olympian Breakdancer\u2019s Brother Charged in Crypto Crime Case\" \/>\n<meta property=\"og:description\" content=\"Brendan Gunn, the brother of Australian Olympian breakdancer Rachael &quot;Raygun&quot; Gunn, has been charged with dealing in funds suspected to be proceeds of\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.cryptometer.io\/news\/olympian-breakdancers-brother-charged-in-crypto-crime-case\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoMeter.io\" \/>\n<meta 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