The Australian authorities charged Brendan Gunn, Breakdancer Raygun’s brother, for his alleged role in a fraud program linked to the crypto.
The Australian Securities and Investments Commission (ASIC) announced that Gunn was facing a cash treatment leader suspected of being the product of the crime.
Presumed illegal operations
According to a March 5 statementGunn would have managed two bank checks containing $ 113,000 of three investors who had transferred funds for cryptocurrency conversion.
ASIC identified Gunn as Director of PTY LTD MORMARKETS, which facilitated cryptographic transactions and investments abroad. The regulator says that it has repeatedly opened bank accounts under the name of the company to receive and transfer funds, despite several closures due to fraud problems. The ASIC also said that the banks had warned it of these questions, but it continued to operate.
The chairman of the commission, Joe Longo, stressed that the agency “continues to prioritize the prevention of the scam and the detection activity to protect consumers”. He added that he would continue to collaborate with international law enforcement organizations, investigate misconduct and take appropriate measures if necessary.
The accused appeared in court on March 4 and is expected to return on April 29. If he is convicted, he could incur up to three years in prison, a fine of $ 23,814, or both.
Rachael “Raygun” Gunn is an Australian breakdancer whose Olympic performance in 2024 has become viral. While she retired later from the competition, her routine caused an online discussion and became the subject of several memes.
Australian regulators intensify the repression of cryptography
This is not the first time that the ASIC has taken action measures of industry. The agency previously spear A Bit Trade survey, the operator of Kraken’s Australian Exchange, accusing the firm not to comply with the standards of financial compliance by offering an unauthorized margin loan product.
The financial guard dog also prosecuted Justice action against John Bigatton, a key promoter of the BitConnect Ponzi program, who promised high yields before closing suddenly.
This repression occurs when Australian regulators increase their surveillance of activities related to crypto. In December, the CEO of Austrac Brendan Thomas announcement that the anti-money laundering agency would aim for its objective towards the cryptography sector in 2025. The target initiative in particular the automatic crypto counter suppliers suspected of having violated financial laws.
“This is the first step in Austrac’s objective to reduce the criminal use of cryptocurrency in Australia. We will focus on this industry in next year, “said the agency.
Meanwhile, ASIC has worked on the refinement of its regulatory approach to digital assets. In December, he launched consultations with industry stakeholders to update his cryptographic guidelines, in particular by clarifying when these assets fall under existing financial frameworks.
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