The brother of infamous Australian Olympic breakdancer Rachael Gunn, aka “Raygun,” has been arrested on suspicion of orchestrating a $100,000 cryptocurrency scheme. The Australian Securities and Investments Commission announced the charges against Brendan Gunn on Wednesday, accusing the brother of the Olympic breaker of dealing “with money or other property” that were “reasonable to suspect” were the proceeds of a crime. “It is alleged that Mr. Gunn dealt with two bank cheques, which contained the proceeds of four investment amounts totaling $181,000 made by three victim investors who deposited funds for conversion to cryptocurrency,” the ASIC said in a statement. Gunn faces three years in prison and a fine of $37,800, according to authorities, who say that he was a director of Mormarkets Pty Ltd., “a company which accepted deposits from Australians for conversion to cryptocurrency and other purported overseas investment opportunities.” Australian authorities allege that Gunn had “sought to open a series of bank accounts on an ongoing basis to receive and transfer deposits, despite bank accounts being repeatedly closed due to concerns about scams and Mr. Gunn being informed of these concerns.” Want to keep up with the latest crime coverage? Sign up for PEOPLE's free True Crime newsletter for breaking crime news, ongoing trial coverage and details of intriguing unsolved cases. Gunn's sister Rachel made headlines around the globe for her outlandish performance at the Paris Olympics last summer, netting her 0 points in the first-ever break dancing competition. Competing as “Raygun,” the Australian professor became the subject of a litany of internet jokes, disputes over the validity of her style of dancing, and even conspiracy theories surrounding her qualification in the event – despite being ranked No. 1 in the world. The spotlight and ultimate criticism of her performance forced Raygun to announce her retirement last November, a decision she said was made as a result of the “upsetting” backlash she received online. “I’m not going to dance anymore, no,” Raygun told Australian radio show 2DayFM, per CNN, adding, “I still dance, and I still break. But, you know, that’s like in my living room with my partner. It’s been really upsetting. I just didn’t have any control over how people saw me or who I was.”