Australia financial regulator ASIC has reported that Brendan Gunn of Brisbane has pleaded guilty to dealing with more than $180,000 when it was reasonable to suspect that those funds were the proceeds of crime, derived from suspected international scams that targeted Australian investors.

This matter is being prosecuted by the CDPP following an investigation and referral from ASIC.

Charges against Brendan Gunn

We had reported the initial charges made against Brendan Gunn early last year. At the time of offending, Brendan Gunn was a director of Mormarkets Pty Ltd, a company that accepted deposits from Australians for cryptocurrency and other supposed investment opportunities. While Mormarkets’ bank accounts were in operation, Mr. Gunn was repeatedly notified of suspicious activity or reports of fraud, with the accounts progressively closed.

On the closure of two Mormarkets bank accounts, between March 2020 and May 2020, Brendan Gunn received two bank cheques which included proceeds of investment amounts totaling $181,000. Mr. Gunn admitted that he then dealt with the bank cheques by sending them to an associate.

Brendan Gunn FX and CFDs career

Brendan Gunn is a well-known and longtime FX and CFDs industry executive. He began his career as Director Global Client Services APAC for GAIN Capital and its Forex.com brand (2006-2013), before serving as CEO of Invast Financial Services (now 26 Degrees) from 2013-2015. From 2016-2020 Brendan ran FX industry news site The Industry Spread, and since he has been involved in a number of businesses, include CFD executives recruiting through The Hive International. Brendan is also known in his native country as the brother of popular Australian Olympic athlete and competitive breakdancer Rachael “Raygun” Gunn.

Penalties

The Office of the Director of Public Prosecutions (Cth)(CDPP) and Mr. Gunn consented to the matter being dealt with for sentence in the local court. Brendan Gunn faces a maximum penalty in the Local Court of one year imprisonment, a fine of $12,600, or both.

The matter is next listed in the Downing Centre Local Court on 10 February 2026 for mention to obtain a sentencing date.