The Australian Securities & Investments Commission (ASIC) has charged Brendan Gunn of Camp Hill, Queensland with one offence under section 400.9(1) of the Criminal Code, alleging that between 19 March 2020 and 15 May 2020 he dealt with money or other property where it was reasonable to suspect the funds were proceeds of crime of AUD 100,000 or more. Mr Gunn appeared in the Sydney Downing Centre Local Court on 4 March 2025. ASIC alleges Mr Gunn dealt with two bank cheques containing proceeds from four investment amounts totalling AUD 181,000 made by three victim investors who deposited funds for conversion to cryptocurrency. Mr Gunn was a director of Mormarkets Pty Ltd, which accepted deposits from Australians for conversion to cryptocurrency and other purported overseas investment opportunities, and is alleged to have sought to open a series of bank accounts to receive and transfer deposits despite repeated account closures due to scam concerns and being informed of those concerns. The maximum penalty at the time of the alleged offences was three years’ imprisonment or a fine of AUD 37,800, or both, and the matter is being prosecuted by the Commonwealth Director of Public Prosecutions following an ASIC investigation and referral. The matter is next listed on 29 April 2025.
Australian Securities & Investments Commission 2025-03-05
Australian Securities & Investments Commission charges Brendan Gunn over alleged handling of AUD 181,000 suspected proceeds of crime
The Australian Securities & Investments Commission (ASIC) has charged Brendan Gunn with dealing in proceeds of crime over AUD 100,000, under section 400.9(1) of the Criminal Code. ASIC alleges Gunn, a director of Mormarkets Pty Ltd, managed bank cheques from investments totaling AUD 181,000 for cryptocurrency conversion, despite scam warnings and account closures. The case, prosecuted by the Commonwealth Director of Public Prosecutions, follows an ASIC investigation. The maximum penalty is three years’ imprisonment or a fine of AUD 37,800, or both.