Crypto developer Riccardo Spagni in court for defrauding cookie company

Cryptocurrency developer Riccardo Spagni is set to appear at Cape Town Regional court on Wednesday after his matter was rolled over on Tuesday.

Spagni, also known as FluffyPony, is a former maintainer of the privacy coin Monero (XMR) and has been accused of fraud and forgery, which he committed over a decade ago.

It is alleged Spagni swindled a South Africa-based cookie company, Cape Cookies of R1.4 million which he deposited into his bank account between 2009 and 2011.

Court documents allege that Spagni committed invoice payment fraud while working as an IT manager for Cape Cookies.

Spagni skipped the country after his partly-heard fraud case last year and a warrant was issued for his arrest on 19 April last year when he failed to appear in person at the next court hearing, News24 reported.  

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Extradition

“He was arrested in the US on 21 July 2021 pursuant to the request for provisional arrest. South Africa subsequently sought his extradition from the United States of America,” National Prosecuting Authority (NPA) spokesperson Eric Ntabazalila said.

“Arrangements between Saps and the US Marshals were underway to have him brought back to South Africa to attend his criminal trial (inter alia fraud involving R1 453 561.47), which is partly-heard at Cape Town Regional Court,” Ntabazalila added.

After being remanded in custody, he was released pending an extradition hearing. He was ordered to stay in Tennessee and surrender his passport.

Spagni launched various unsuccessful applications in the High Court of South Africa: Western Cape Division in his efforts to resist his extradition.

On the eve of his extradition hearing in the US scheduled for 25 May 2022, the “fugitive from justice” waived his rights and agreed to cooperate with the authorities.

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