Former finance director Brendan Gunn has been sentenced in the Local Court of NSW for dealing with over $180,000 when it was reasonable to suspect that those funds were proceeds of crime.

Mr Gunn was sentenced to 12 months’ imprisonment, to be released immediately upon entering into a recognizance of $3000 requiring he be of good behaviour for 12 months.

The funds were suspected of being proceeds of crime derived from an offshore cryptocurrency investment scam that targeted Australians.

The maximum sentence of imprisonment able to be imposed in a summary prosecution for this offence is 12 months.

From December 2018, Mr Gunn was a director of Mormarkets Pty Ltd, trading as Coinshype. Mormarkets received deposits from Australians…