Australian Olympian Raygun’s brother sentenced to 12 months for crypto‑scam money handling

Brendan Gunn, brother of Australian Olympic breakdancer Rachael Gunn – known as Raygun – was sentenced by the Local Court of New South Wales to a 12‑month custodial term, the maximum penalty for the offence, after pleading guilty to dealing with more than US$180,000 that was suspected to be the proceeds of crime linked to an offshore cryptocurrency investment scam.

Gunn had served as a director of Mormarkets (trading as Coinshype), which accepted Australian deposits for crypto investments between December 2018 and May 2020, opening 22 bank accounts across six institutions. Despite repeated warnings from banks and the Australian Securities & Investments Commission that customers were reporting fraud and suspicious activity, Gunn continued to move the funds, facilitating suspected international scammers in transferring money taken from Australians. He was released immediately after signing a AU$4,350 recognizance requiring good behaviour for one year.