Panacea Capital Director Charged Over A$4.4M Crypto Fund

Panacea Capital director Brian Jacques Creigh faces criminal charges over an allegedly unlicensed cryptocurrency investment business involving A$4.4 million, according to ASIC. He was charged in Melbourne Magistrates’ Court on 19 October 2026 and granted conditional bail.

Two Charges Over Crypto Fund Operations

ASIC alleges Creigh offered the Panacea Capital Cryptocurrency Investment Fund through Panacea Capital Pty Ltd between 22 April 2021 and 17 June 2022, without either holding an Australian financial services licence or acting as an authorised representative.

He faces one charge of operating an unlicensed financial services business and one of dealing with proceeds of crime worth A$1 million or more, relating to the A$4.4 million invested. Commonwealth prosecutors are handling the case following ASIC’s referral. The charges are allegations, not convictions.

Earlier Ban and Investor Losses

In its 2024 banning decision, ASIC permanently banned Creigh from financial services, finding misleading representations about capital guarantees, targeted returns and fund operations.

The regulator said investor money was transferred overseas to the Liquid Assets Group fund, which proved to be an investment scam, causing losses of approximately A$7.7 million. That earlier loss figure is distinct from the amount involved in the current charges.

Investors should independently verify licensing and product authorisations before transferring money. For questions about a broker’s regulatory status or background, visit BrokersView’s Q&A section to support your due diligence.

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