Former Monero maintenance manager Riccardo Spagni, nicknamed Fluffypony, has been arrested in the United States for billing fraud.

The allegations don’t have anything to do with Spagen’s function at Monero. Instead, it began in 2009 when Spagni was working at a South Africa-based firm referred to as Cape Cookies.

Riccardo Spagni

Spagni allegedly stole invoices and information from one other firm, Ensync, after which created cast paperwork to divert funds to an account he managed.

Spagni made roughly $ 99,200 by means of its fraudulent actions, in accordance with court docket data.

These paperwork additionally state that Spagni has a number of cryptocurrencies that would assist him get away and estimates his present holdings at $ 800,000.

Spagni was arrested final month whereas stopping for gas in Nashville, Tennessee, on a flight from New York to Los Cabos, Mexico. At the request of the South African authorities, he was arrested by US authorities.

If convicted, Spagni faces as much as 20 years imprisonment.

Spagni was a senior developer at Monero till he left in December 2019. However, since then he has been closely concerned in the growth of Monero.

Skeptics in the Monero neighborhood have urged that these allegations have been fabricated due to the anti-crypto sentiment in governments, however there isn’t a purpose to consider that this skepticism is appropriate.

Cong Tu Ngang

According to AZCoin News

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