He’s going away for a while.
Brendan Gunn, the brother of Australian Olympian Rachael “Raygun” Gunn, has been hit with a prison sentence after pleading guilty in an international cryptocurrency fraud case.
An Australian court sentenced Gunn to a maximum term of 12 months after he admitted dealing with funds that he reasonably suspected were the proceeds of crime.
According to the Australian Securities and Investments Commission (ASIC), Gunn handled more than AU$180,000 linked to an offshore cryptocurrency investment scam that targeted Australian victims.
Authorities released Gunn immediately after he entered an AU$3,000 recognizance. The agreement requires him to stay out of trouble for the next 12 months.
ASIC Chair Sarah Court criticized Gunn’s actions following the sentencing, per Investor Daily.
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“Gunn ignored several clear warnings, including customer complaints made to Mormarkets’ various Australian banks, that the money moving through Mormarkets’ accounts was linked to suspected scam activity.”
“By continuing to deal with those funds, he helped suspected international scammers move money taken from Australians,” Court added.
Case Comes To An End As Netflix Prepares To Launch Raygun Documentary
According to ASIC, Gunn served as a director of Mormarkets, a company that accepted deposits for cryptocurrency and other investment products beginning in late 2018.
Court documents stated that Mormarkets opened 22 bank accounts across six financial institutions between January 2019 and May 2020.
During that period, several banks warned Gunn after customers reported suspected fraud involving money deposited into those accounts. Australian authorities eventually took him into custody.
Meanwhile, the sentencing has arrived amid another eventful period for his sister.
Netflix has scheduled the release of ‘Raygun: Breaking Badly’ for Sept. 1. The documentary examines Rachael Gunn’s rise to international attention following her widely discussed performance at the 2024 Paris Olympics.
Gunn failed to score a point in any of her three Olympic breaking battles before retiring from competition later that year. Despite the criticism surrounding her Olympic appearance, she briefly reached No. 1 in the World DanceSport Federation’s rankings under that organization’s points system.
Since then, Gunn has been involved in disputes over the use of her “Raygun” persona and has lost her lecturing position at Macquarie University.
