Panacea Capital director Brian Jacques Creigh faces two criminal charges concerning an allegedly unlicensed cryptocurrency fund. ASIC’s 20 October announcement says he was charged in Melbourne Magistrates’ Court on 19 October and granted conditional bail.[1]
ASIC alleges he offered the fund between April 2021 and June 2022 without authorisation. The Commonwealth Director of Public Prosecutions is pursuing an unlicensed-business charge and a proceeds-of-crime charge relating to A$4.4 million invested.[1]
The criminal allegations remain for the court to determine. A separate administrative decision preceded them: ASIC permanently banned Creigh from financial services in March 2024. Its findings included misleading representations about a capital guarantee, targeted returns and how the fund operated.[2]
The earlier decision also supplies an important authorisation chronology. Panacea was a corporate authorised representative of Drashta Capital from 3 November 2016 to 5 July 2018. That relationship had ended before the fund’s operating period. A past association with a licensee cannot establish permission for subsequent business.[2]
ASIC’s 2024 account put investor losses from the overseas Liquid Assets Group scheme at approximately A$7.7 million. That historical loss figure differs in scope from the A$4.4 million investment amount addressed by the criminal charge.[2][1]
Sources & further reading
- Panacea director charged with criminal offences ASIC · 20 Oct 2026 · Accessed 21 Oct 2026
- ASIC bans Panacea Capital director ASIC · 21 Mar 2024 · Accessed 21 Oct 2026