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The brother of Olympic breakdancer Rachael “Raygun” Gunn has landed in court over accusations of involvement in a global scam ring fleecing investors of more than $150,000.

Brendan Gunn has been charged by financial watchdog ASIC for dealing with the proceeds of crime from the alleged fraud syndicate.

ASIC alleges he received two bank cheques totalling $181,000 in his role as director of financial services company Mormarkets, between about March 19 and May 15, 2020.

The funds were deposited by three victim investors for conversion into cryptocurrency.

Gunn allegedly tried to open a series of bank accounts on behalf of Mormarkets to receive and transfer deposits, despite them being repeatedly closed over concerns about scams and despite being warned about these concerns.

The Brisbane man appeared before Sydney Downing Centre Local Court on Tuesday, charged with dealing with proceeds of crime of $100,000 or more.

The charge carries a maximum penalty of three years’ imprisonment and a fine of $37,800.

Australian Securities and Investment Commission chair Joe Longo said the case reflects its commitment to pursue people who facilitate cross-border scams targeting Australian investors.

An account on social media platform X appearing to belong to Gunn congratulated his sister for her performance representing Australia at the Paris Olympics.

“Could not be prouder of my amazing sister Raygun aka Rachael Gunn who did an incredible job competing in a brand new Olympic sport representing this great country,” he wrote in August 2024.

The account’s bio describes his “passion for the financial markets, technology and sports” and states he is “following the lifelong dream of being a successful entrepreneur”.

Gunn is next due to face court on April 29. AAP has contacted him for comment.

AAP