Australia financial regulator ASIC has announced that Brendan Gunn of Camp Hill Queensland, appeared in the Sydney Downing Centre Local Court yesterday charged with one offence against s.400.9.(1) to the Criminal Code. The charges against Brendan Gunn allege that between about 19 March 2020 and 15 May 2020 he dealt with money or other property, it being reasonable to suspect that the money or property was proceeds of crime of $100,000 or more.

The maximum penalty at the time of the alleged offences was three years imprisonment or a fine of $37,800 or both.

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.

Charges against Brendan Gunn

It is alleged that Brendan Gunn dealt with two bank cheques, which contained the proceeds of four investment amounts totaling $181,000 made by three victim investors, who deposited funds for conversion to cryptocurrency.

Brendan Gunn was a director of Mormarkets Pty Ltd, a company which accepted deposits from Australians for conversion to cryptocurrency and other purported overseas investment opportunities.

On behalf of Mormarkets Pty Ltd, Brendan Gunn sought to open a series of bank accounts on an ongoing basis to receive and transfer deposits, despite bank accounts being repeatedly closed due to concerns about scams and Mr. Gunn being informed of these concerns.

ASIC Chair Joe Longo said,

“ASIC continues to prioritise scam prevention and detection activity to protect consumers. We will continue to partner with international law enforcement organisations and investigate and take action where we see misconduct.

“This matter reflects ASIC’s commitment to pursue those in Australia who it is alleged are involved in facilitating cross border scams targeting Australian investors.”

The matter is being prosecuted by the Commonwealth Director of Public Prosecutions following an investigation and referral by ASIC. The matter is next listed on 29 April 2025.