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Ex-Monero custodian arrested in the US on non-crypto-related charges

August 2, 2021 - Around 2 mins mins to read

Riccardo Spagni, a former Monero (XMR) cryptocurrency supervisor, was arrested final month in Nashville, Tennessee, for fraud-related crimes dedicated in South Africa between 2009 and 2011.

Spagni was on a non-public airplane scheduled to fly to Los Cabos, Mexico, when court docket paperwork stated he was arrested throughout a scheduled refueling cease in Nashville. His journey started simply outdoors of New York City. He is presently in the custody of the US Attorney General, in line with court docket data.

The arrest was made at the request of the South African authorities, which is making an attempt to extradite Spagni on charges of fraud. The unrelated charges are associated to his earlier function as chief data know-how officer at an organization known as Cape Cookies. Regarding spying’s alleged wrongdoing, court docket paperwork present:

“As an worker of Cape Cookies, SPAGNI intercepted invoices from one other firm, Ensync, for IT services and products that that firm offered to Cape Cookies. SPAGNI knowingly used incorrect data to arrange related invoices with the intent to be from Ensync, based mostly on particulars reminiscent of the firm’s gross sales tax (VAT) numbers and checking account data. SPAGNI then elevated the costs for items and / or companies. “

Related: FBI arrests 24-year-old crypto trader for goods and transfer fraud

The South African government claims that the bills do not include Ensync’s actual bank account, but a bank account opened and fully controlled by Spagni.

In a judicial file, acting US attorney Mary Jane Stewart asked the court to reject all bail requests from Spagni “till this extradition trial”. The document describes Spagni as an adventurer on board with a strong motive for fleeing to avoid prosecution. He is said to have “vital crypto belongings” and an $ 800,000 watch.

Spagni will now face a listening to on August fifth to determine whether or not he ought to be held pending trial. If convicted in South Africa, Spagni faces as much as 20 years imprisonment.

Spagni has been energetic in the crypto market since no less than 2011 and is energetic on Twitter below the administration of @FluffyPony. He has not tweeted since his arrest on July 20, 2021. In December 2019, he stepped down as Monero’s important carer.

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Market

Ex-Monero custodian arrested in the US on non-crypto-related charges

Riccardo Spagni, a former Monero (XMR) cryptocurrency supervisor, was arrested final month in Nashville, Tennessee, for fraud-related crimes dedicated in South Africa between 2009 and 2011.

Spagni was on a non-public airplane scheduled to fly to Los Cabos, Mexico, when court docket paperwork stated he was arrested throughout a scheduled refueling cease in Nashville. His journey started simply outdoors of New York City. He is presently in the custody of the US Attorney General, in line with court docket data.

The arrest was made at the request of the South African authorities, which is making an attempt to extradite Spagni on charges of fraud. The unrelated charges are associated to his earlier function as chief data know-how officer at an organization known as Cape Cookies. Regarding spying’s alleged wrongdoing, court docket paperwork present:

“As an worker of Cape Cookies, SPAGNI intercepted invoices from one other firm, Ensync, for IT services and products that that firm offered to Cape Cookies. SPAGNI knowingly used incorrect data to arrange related invoices with the intent to be from Ensync, based mostly on particulars reminiscent of the firm’s gross sales tax (VAT) numbers and checking account data. SPAGNI then elevated the costs for items and / or companies. “

Related: FBI arrests 24-year-old crypto trader for goods and transfer fraud

The South African government claims that the bills do not include Ensync’s actual bank account, but a bank account opened and fully controlled by Spagni.

In a judicial file, acting US attorney Mary Jane Stewart asked the court to reject all bail requests from Spagni “till this extradition trial”. The document describes Spagni as an adventurer on board with a strong motive for fleeing to avoid prosecution. He is said to have “vital crypto belongings” and an $ 800,000 watch.

Spagni will now face a listening to on August fifth to determine whether or not he ought to be held pending trial. If convicted in South Africa, Spagni faces as much as 20 years imprisonment.

Spagni has been energetic in the crypto market since no less than 2011 and is energetic on Twitter below the administration of @FluffyPony. He has not tweeted since his arrest on July 20, 2021. In December 2019, he stepped down as Monero’s important carer.

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