South Africa Charges Former Monero Lead Developer With 378 Counts of Fraud and Forgery – Regulation Bitcoin News

Riccardo spagni was a Monero former lead maintainer. He faces more than 350 counts of fraud and forgery. These charges stem from fraud he is accused of committing while still working for Cape Cookies.

Fluffypony Pleads Not Guilty

According to a report, Riccardo Spagni (a crypto mogul who was also the former Monero chief developer) has been accused of 378 counts fraud by South Africa’s government. Spagni was accused of defrauding more than $93,500 from his ex-employer (R1,453,561). They are said to have occurred between October 2009 – June 2011.

According to Bitcoin.com News reports, Spagni was detained in Tennessee by U.S. authorities. The lead maintainer’s arrest stems from a warrant that was issued by a South African court when Spagni, who is also known as “Fluffypony,” failed to make a routine court appearance.

Spagni, who has now pleaded not guilty, was accused of defrauding Cape Cookies, his former South African employer. This included inflating the payment due to the supplier. One report states that Spagni, who was the Monero’s former lead maintainer, would ensure funds were transferred to his bank account. Spagni then would pay the supplier for the exact amount and keep the remainder.

Spagni is entitled to extradition hearing

According to court records filed May 20,22, the ex-developer is facing 126 charges of fraud or contraventions under the VAT Act. He also faces “126 counts of forgery [and] 126 counts of uttering.” Attempts by Spagni’s lawyers to have the documents struck from record were reportedly rejected by a U.S. court, a report said.

Meanwhile, the revelation of the South African government’s charges against Spagni came just a few days after the former Monero maintainer reportedly waived his right to an extradition hearing. Spagni also allegedly requested that the U.S. court expedite his extradition from South Africa in an affidavit filed May 25.

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Terence Zimwara

Terence Zimwara, a Zimbabwean journalist, writer and author who has been awarded the Zimbabwe Booker Prize. He is a prolific writer on the economic woes of African countries, as well as digital currencies that can be used to provide an escape path for Africans.