Former Monero chief executive Riccardo Spagni faces more than 370 counts of fraud, forgery and utterance. The charges against the developer stem from fraudulent activities he allegedly committed while still employed by Cape Cookies.
Fluffypony pleads not guilty
So-called crypto mogul and former Monero lead developer Riccardo Spagni has been charged with 378 counts of fraud by the South African government, according to a report. The charges follow allegations that Spagni defrauded his former employer of more than $93,500 (R1,453,561). The crimes allegedly took place between October 2009 and June 2011.
As previously reported by Bitcoin.com News, Spagni was arrested in Tennessee by US law enforcement. The arrest of the main official stems from a warrant issued by a South African court when Spagni, also known as “Fluffypony”, failed to appear in court.
Spagni, who has since pleaded not guilty to the charges, is accused of deceiving his former South African employer, Cape Cookies, by inflating the amount of money that was owed to the supplier. According to a report, the former main maintainer of Monero would then ensure that the funds would be transferred to a bank account he controlled. Once payment was made, Spagni would then transfer the actual amount due to the supplier and retain the balance.
Spagni waives his right to an extradition hearing
According to court documents filed in May 2022, the former promoter now faces 126 counts of fraud or VAT law violations. He also faces “126 counts of forgery [and] 126 counts. Attempts by Spagni’s lawyers to have the documents expunged from the case have reportedly been rejected by a US court, according to a report.
Meanwhile, the revelation of the South African government’s charges against Spagni came just days after the former Monero official reportedly waived his right to an extradition hearing. Additionally, in an affidavit reportedly filed May 25, Spagni reportedly asked the US court to expedite his extradition to South Africa.
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