Australian Securities and Investments Commission reports charges against Brian Creigh over unlicensed crypto fund and AUD 4.4 million in alleged proceeds of crime

The Australian Securities and Investments Commission (ASIC) reported that Brian Jacques Creigh has been charged with operating a financial services business without an Australian Financial Services (AFS) licence and dealing with proceeds of crime involving AUD 4.4 million invested in the business. Creigh was charged in the Melbourne Magistrates’ Court on 19 October 2026 and granted conditional bail. The allegations concern the Panacea Capital Cryptocurrency Investment Fund, which Creigh allegedly offered through Panacea Capital Pty Ltd between 22 April 2021 and 17 June 2022. The fund purported to invest in a diversified portfolio of digital assets to generate returns. Neither Creigh nor Panacea Capital held an AFS licence or was an authorised representative during the fund’s operation. The Commonwealth Office of the Director of Public Prosecutions is prosecuting the case following ASIC’s referral of a criminal brief. The unlicensed business charge carries a maximum penalty of five years’ imprisonment, a fine of AUD 133,200, or both. The proceeds of crime charge carries a maximum penalty of 25 years’ imprisonment, a fine of AUD 333,000, or both. ASIC previously permanently banned Creigh from providing financial services in March 2024 over conduct connected to the fund.