Olympic Breakdancer 'Raygun's' Brother Arrested Over $100K Crypto Scheme
In a case merging the viral world of Olympic breakdancing with financial crime, Brendan Gunn—the brother of Australian Olympic breakdancer Rachael "Raygun" Gunn—has been arrested over an alleged $100,000 cryptocurrency scheme.
The Australian Securities and Investments Commission (ASIC) announced this week that Brendan Gunn faces charges related to handling money suspected to be proceeds of crime. Gunn allegedly dealt with two bank cheques tied to $181,000 in investments from three victims who believed they were converting their funds into cryptocurrency.
According to ASIC, Gunn was operating through Mormarkets Pty Ltd., a company that promised overseas investment opportunities and crypto conversions. Despite banks repeatedly closing associated accounts due to scam concerns, Gunn allegedly continued to open new ones.
Charges and Penalties
Brendan Gunn has been charged with dealing in suspected criminal proceeds and could face up to three years in prison and a fine of $37,800.
Raygun: Viral Olympic Fame Meets Family Fallout
Rachael Gunn, a university professor turned breakdancer, went viral during the 2024 Paris Olympics. Competing as "Raygun," she scored zero points in the debut Olympic breakdancing event, but made headlines for her bold style and sparked heated debates across the internet.
Following harsh online backlash and conspiracy theories about her qualifications—despite being ranked No. 1—Raygun retired in November 2024, citing the emotional toll. "I just didn't have any control over how people saw me or who I was," she said in an interview.
What This Means for Crypto Investors
This case underscores the risks associated with unregulated crypto investment platforms. Investors are urged to do thorough due diligence and consult with experts before trusting new companies with large sums of money.