Riccardo Spagni, the previous maintainer of the Monero (XMR) cryptocurrency, was arrested final month in Nashville, Tennessee on fraud costs tied to alleged offenses in South Africa between 2009 and 2011.
Spagni was on board a non-public jet scheduled to fly to Los Cabos, Mexico when he was apprehended in Nashville throughout a scheduled refueling cease, according to courtroom paperwork. His journey initially started simply exterior of New York Metropolis. He’s presently within the custody of the U.S. Lawyer Basic, in response to courtroom paperwork.
The arrest was made on the request of the South African authorities, which is in search of Spagni’s extradition on fraud costs. The costs, that are unrelated to Spagni’s position at Monero, are tied to his earlier employment as an info expertise supervisor at an organization known as Cape Cookies. Concerning Spagni’s alleged misdeeds, the courtroom paperwork learn:
“As an worker of Cape Cookies, SPAGNI intercepted invoices from one other firm, Ensync, regarding info expertise items and providers it had provided Cape Cookies. SPAGNI knowingly used false info to manufacture comparable invoices purporting to be from Ensync, counting on particulars together with this firm’s Worth Added Tax (VAT) quantity and financial institution account info. SPAGNI then inflated the costs for the products and/or providers.”
The Authorities of South Africa alleges that the invoices didn’t include the true checking account of Ensync, however relatively a checking account opened and managed fully by Spagni.
Within the courtroom submitting, Appearing United States Lawyer Mary Jane Stewart requested that the courtroom deny any bail requests by Spagni “pending decision of this extradition continuing.” The doc describes Spagni as a flight threat with a powerful motivation to flee to keep away from dealing with costs. He’s believed to have “vital crypto-assets” in addition to a watch valued at $800,000.
Spagni now faces a listening to on August 5 to find out whether or not he’s held pending trial. If convicted in South Africa, Spagni might resist 20 years in jail.
Spagni has been concerned within the cryptocurrency market since no less than 2011 and is energetic on Twitter below the deal with @FluffyPony. He has not tweeted for the reason that arrest on July 20, 2021. In December 2019, he stepped down as lead maintainer of Monero.