Brother of Olympian Raygun Sentenced to 12 Months for Handling $180,000 Linked to Crypto Scam

A New South Wales court sentenced Brendan Gunn, brother of Olympic breakdancer Rachael "Raygun" Gunn, to 12 months in jail for admitting he handled more than US$180,000 suspected to be proceeds of crime connected to an offshore cryptocurrency investment scam. He was released immediately after posting a US$3,000 recognisance and agreeing to 12 months of good behaviour.

Gunn directed Mormarkets—trading as Coinshype—from December 2018, which accepted cryptocurrency investment deposits from Australians. Between January 2019 and May 2020, the business operated 22 accounts across six financial institutions. Despite repeated bank fraud warnings about suspicious transactions and customer complaints, Gunn forwarded two cheques totaling US$181,000 to an associate, facilitating the transfer of funds to suspected international scammers targeting Australian investors.