The Australian Securities & Investments Commission announced that former finance director Brendan Gunn of Brisbane has pleaded guilty to dealing with more than AUD 180,000 when it was reasonable to suspect the funds were proceeds of crime derived from suspected international scams targeting Australian investors. At the time, Gunn was a director of Mormarkets Pty Ltd, which accepted deposits from Australians for cryptocurrency and other purported investment opportunities. While Mormarkets’ bank accounts were operating, Gunn was repeatedly notified of suspicious activity or fraud reports, with the accounts progressively closed. After two accounts were closed, between March and May 2020 Gunn received two bank cheques representing investment proceeds totalling AUD 181,000 and admitted dealing with them by sending the cheques to an associate. The Commonwealth Director of Public Prosecutions is prosecuting the matter following an ASIC investigation and referral, with the parties consenting to sentencing in the Local Court where the maximum penalty is one year imprisonment, a AUD 12,600 fine, or both. The matter is next listed in the Downing Centre Local Court on 10 February 2026 for mention to obtain a sentencing date.
Australian Securities & Investments Commission 2026-01-27
Australian Securities & Investments Commission investigation results in Brendan Gunn guilty plea over AUD 181,000 suspected scam proceeds
The Australian Securities & Investments Commission reported that Brendan Gunn, former finance director of Mormarkets Pty Ltd, pleaded guilty to dealing with over AUD 180,000 suspected to be proceeds of crime from international scams. The case, prosecuted by the Commonwealth Director of Public Prosecutions, is set for mention in the Downing Centre Local Court on 10 February 2026 to obtain a sentencing date.