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Monero co-founder “Fluffypony” indicted on 378 fraud charges

 


The South African government announced on June 2 that it had indicted Monero co-founder Riccardo Spagni, also known as “Fluffypony,” of fraud and bill falsification on 378 counts.

The authorities accuse Spagni of fraud in the amount of 1.5 million South African Rand, around 90,000 euros.

He is suspected of having issued bogus invoices on which he had given his own company's bank account information and VAT number.

According to the court documents, Spagni also artificially increased the invoice amounts in order to be able to capture even more money.

Spagni was arrested by US authorities during a stopover in Nashville, Tennessee on August 2, 2021.

According to a report dated June 2, 2022, Spagni failed to exercise his right to an extradition hearing in the United States.

Instead, he has asked the US court to expedite his transfer to South Africa.

Fluffyponny may expect a lighter sentence from the South African trial.

The co-founder and former main developer of the cryptocurrency Monero (XMR), which specializes in anonymous payment transactions, left the project in December 2019.

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