Panacea Capital Director Brian Creigh Faces Financial Services and Proceeds of Crime Charges

Brian Jacques Creigh of Moreton Bay, Queensland, appeared in the Melbourne Magistrates' Court on 19 October 2026, facing criminal charges for operating an unlicensed financial services business and dealing with the proceeds of crime.

According to the Australian Securities and Investments Commission (ASIC), Mr Creigh is alleged to have offered a digital asset-based product named the "Panacea Capital Cryptocurrency Investment Fund" through Panacea Capital Pty Ltd between 22 April 2021 and 17 June 2022. The fund was purportedly created to generate returns by investing in a diversified portfolio of digital assets.

ASIC stated that neither Mr Creigh nor Panacea Capital held an Australian Financial Services (AFS) licence or acted as authorised representatives while the fund operated.

Mr Creigh faces one charge of carrying on a financial services business without a licence under section 911A(1) of the Corporations Act 2001 (Cth), which carries a maximum penalty of five years’ imprisonment, a $133,200 fine, or both. He also faces one charge of dealing in the proceeds of crime worth $1 million or more under section 400.3(1) of the Criminal Code (Cth) concerning $4.4 million in investments made in the unlicensed business. The maximum penalty for the proceeds of crime charge is 25 years’ imprisonment, a $333,000 fine, or both.

The Commonwealth Director of Public Prosecutions is prosecuting the matter following a referral from ASIC. The Melbourne Magistrates' Court granted Mr Creigh conditional bail on 19 October 2026.

In March 2024, ASIC previously issued a permanent ban prohibiting Mr Creigh from providing financial services in connection with his conduct involving the crypto fund.

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