The brother of Olympic breakdancer Rachael Gunn, or Raygun, has been charged for allegedly dealing with money that was the proceeds of crime.

Brendan Gunn, from Camp Hill in Queensland, faced Sydney Downing Centre Local yesterday over one count against the Criminal Code.

The Australian Securities and Investments Commission (ASIC) alleged he dealt with more than $100,000 in money or property that was reasonable to suspect were the proceeds of crime between March 19, 2020, and May 15, 2020, while director of Mormarkets — a role he has held since 2019.

Brendan allegedly dealt with two bank cheques, which contained four investments totalling $181,000, by three investors who deposited the funds to convert to cryptocurrency.

He opened several bank accounts to receive and transfer deposits on an ongoing basis.

ASIC alleged the bank accounts were repeatedly closed due to concerns about scams and Gunn was informed of these concerns.

Following an investigation, the matter was referred to the Commonwealth Director of Public Prosecutions, who is prosecuting the case in court.

Brendan is facing a maximum penalty of three years’ imprisonment, a $37,800 fine or both.

He will return to court on April 29. 

ASIC chair Joe Longo said this case reflected his commitment to pursue those who are allegedly involved in facilitating cross-border scams targeting Australian investors.

“ASIC continues to prioritise scam prevention and detection activity to protect consumers,” he said in a statement.

“We will continue to partner with international law enforcement organisations and investigate and take action where we see misconduct.”

Brendan holds several positions as director at Geomarkets, Celcius, ODESI and The Hive International and, on social media, writes that he is “following the lifelong dream of being a successful entrepreneur”.

He is the brother of Raygun, who became a household name after her viral breakdancing performance in the sport’s debut at the Paris Olympics last year. 

In a social media post at the time, Brendan said he “could not be prouder of my amazing sister” and that she will “always be a winner to me”.

9news.com.au has contacted Brendan for comment.