Brian Jacques Creigh, of Morton Bay, Queensland, has been charged with carrying on a financial services business without an Australian Financial Services (AFS) licence and dealing with proceeds of crime.

Mr Creigh was charged in the Melbourne Magistrates' Court on 19 October 2026.

It is alleged that between 22 April 2021 and 17 June 2022 Mr Creigh offered a digital asset-based investment product referred to as the ‘Panacea Capital Cryptocurrency Investment Fund’ (Crypto Fund) via Panacea Capital Pty Ltd. Purportedly, the Crypto Fund’s purpose was to invest in a diversified portfolio of digital assets to generate returns.

Neither Mr Creigh nor Panacea Capital held an AFS licence or were authorised representatives during the period the Crypto Fund was in operation.

Mr Creigh is facing one charge of carrying on a financial services business without a licence under section 911A(1) of the Corporations Act 2001 (Cth) and one charge of dealing in the proceeds of crime worth $1 million or more under section 400.3(1) of the Criminal Code (Cth), in relation to $4.4 million, being investments made in the unlicensed business.

The matter is being prosecuted by the Office of the Director of Public Prosecutions (Cth) following a referral of a criminal brief by ASIC.

On 19 October 2026, the Court granted Mr Creigh conditional bail.

Background

The maximum penalty for carrying on a financial services business without an Australian financial services licence, is five years’ imprisonment, a fine of $133,200, or both.

The maximum penalty for dealing with proceeds of crime worth $1 million or more, believing it to be the proceeds of crime, is 25 years’ imprisonment, a fine of $333,000 or both.

In March 2024, Mr Creigh was permanently banned from providing financial services in respect of conduct connected to the Crypto Fund (24-054MR).