{"id":11220,"date":"2026-07-29T06:35:08","date_gmt":"2026-07-29T06:35:08","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=11220"},"modified":"2026-07-29T06:35:08","modified_gmt":"2026-07-29T06:35:08","slug":"brother-of-olympian-raygun-jailed-over-180000-linked-to-alleged-crypto-scam","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=11220","title":{"rendered":"Brother of Olympian Raygun Jailed Over $180,000 Linked to Alleged Crypto Scam"},"content":{"rendered":"

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  • Brendan Gunn received a suspended custodial sentence after admitting he dealt with funds suspected to be the proceeds of crime linked to a cryptocurrency investment scam.<\/span><\/li>\n
  • The case centred on Mormarkets\u2019 banking activity, with repeated fraud warnings preceding the movement of more than $181,000 through closed accounts.<\/span><\/li>\n
  • The prosecution forms part of broader regulatory efforts to pursue people accused of facilitating cross-border investment scams targeting Australians.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n

    A New South Wales court has sentenced Brendan Gunn, brother of Australian Olympian Rachael \u201cRaygun\u201d Gunn, after he admitted handling more than US$180,000 (AU$261,000) that was reasonably suspected to be the proceeds of crime connected to an offshore cryptocurrency investment scam.<\/p>\n

    Gunn was jailed for 12 months, the maximum penalty for the offence, but was released immediately after agreeing to a US$3,000 (AU$4,350) recognisance requiring 12 months of good behaviour. He had pleaded guilty earlier this year to dealing with the suspected proceeds of crime.<\/p>\n

    Related: SparkKitty Malware Stole Crypto Wallet Recovery Phrases From Photos on iPhones and Android Devices<\/strong><\/p>\n

    Inside the Mormarkets Operation\u00a0<\/h2>\n

    From December 2018, Gunn acted as a director of Mormarkets, which traded as Coinshype and accepted deposits from Australians for cryptocurrency and other purported investments. Over a period spanning January 2019 to May 2020, the business opened 22 accounts with six financial institutions.<\/p>\n

    During that time, banks repeatedly alerted Gunn to customer complaints involving alleged fraud and suspicious transactions linked to the accounts. After two accounts were closed, he received two bank cheques containing investment proceeds worth US$181,000 (AU$262,450) before forwarding them to an associate.<\/p>\n

    The regulator said Gunn continued dealing with the funds despite multiple warnings that the money was connected to suspected scam activity, helping suspected international scammers transfer money taken from Australians. The case followed an investigation by the regulator and prosecution after the matter was referred for criminal proceedings.<\/p>\n

    Related: Triple-A Crypto Wallet Hack Swells to Nearly $12 Million<\/strong><\/p>\n<\/p><\/div>\n

    Law,Scams#Brother #Olympian #Raygun #Jailed #Linked #Alleged #Crypto #Scam1785306908<\/p>\n","protected":false},"excerpt":{"rendered":"

    Brendan Gunn received a suspended custodial sentence after admitting he dealt with funds suspected to be the proceeds of crime linked to a cryptocurrency investment scam. The case centred on Mormarkets\u2019 banking activity, with repeated fraud warnings preceding the movement of more than $181,000 through closed accounts. The prosecution forms part of broader regulatory efforts<\/p>\n","protected":false},"author":1,"featured_media":11221,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[3074,5787,62,3067,3070,5788,5789,659],"class_list":["post-11220","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","tag-alleged","tag-brother","tag-crypto","tag-jailed","tag-linked","tag-olympian","tag-raygun","tag-scam"],"yoast_head":"\nBrother of Olympian Raygun Jailed Over $180,000 Linked to Alleged Crypto Scam - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=11220\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brother of Olympian Raygun Jailed Over $180,000 Linked to Alleged Crypto Scam\" \/>\n<meta property=\"og:description\" content=\"Brendan Gunn received a suspended custodial sentence after admitting he dealt with funds suspected to be the proceeds of crime linked to a cryptocurrency investment scam. 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