Categories: Market

Former Monero maintenance manager arrested in the US for billing fraud

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

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

CoinX

Recent Posts

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

42 minutes ago

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

2 hours ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

2 hours ago

Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!

XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…

2 hours ago

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

4 hours ago

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

4 hours ago

This website uses cookies.