Australian Olympic Breakdancer’s Brother Accused of Crypto Fraud

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• Brendan Gunn, brother of Australian Olympic breakdancer Rachael “Raygun” Gunn, has been charged with allegedly dealing with a crypto-related fraud
• The Australian Securities and Investments Commission (ASIC) alleges that Gunn handled over $100,000 suspected to be proceeds of crime
• The charges relate to his role as director of Mormarkets Pty Ltd, where he purportedly managed funds intended for cryptocurrency conversion between March and May 2020

Brendan Gunn, brother of renowned Australian breakdancer Rachael “Raygun” Gunn, has been formally charged by ASIC for allegedly handling substantial funds suspected to be proceeds of crime. As the director of Mormarkets Pty Ltd, Gunn is accused of managing significant investments intended for cryptocurrency conversion during a two-month period in 2020. The legal repercussions could include imprisonment, a hefty fine, or both.

Bitcoins Check-mate for Gunn

According to ASIC, between March 19 and May 15, 2020, Gunn dealt with two bank checks totaling $181,000, representing investments from three individuals seeking cryptocurrency conversion services. ASIC published a press release in which it outlined the case against Gunn:

On behalf of Mormarkets Pty Ltd, 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 Chair Joe Longo emphasized the commission’s dedication to safeguarding consumers from fraudulent activities:

ASIC continues to prioritise scam prevention and detection activity to protect consumers. We will continue to partner with international law enforcement organisations and investigate and take action where we see misconduct.

Gunn appeared at the Sydney Downing Centre Local Court on March 4, 2025, facing charges under section 400.9.(1) of the Criminal Code. If found guilty, he could face up to three years in prison, a fine of $37,800, or both. The next court date is scheduled for April 29, 2025.

Bitcoins Not The Gunns’ Only Claim to Fame

This legal development brings attention to Gunn’s familial connection to Rachael Gunn, known in the breakdancing community as “Raygun.” Rachael gained international recognition for her participation in the 2024 Paris Olympics, where breakdancing made its debut, but faced public ridicule following her less-than-stellar performance, which saw her become a viral sensation.

Brendan publicly supported his sister during that time, expressing pride in her achievements, but will be hoping that his defense team can put in a better performance.