Monero Developer Riccardo Spagni Denied Bail After Court Brands Him a Flight Risk – News Bitcoin News


Monero Developer Riccardo Spagni Denied Bail After Court Brands Him a Flight Risk

Following Riccardo Spagni’s arrest by U.S. law enforcement on July 21, 2021, a United States court has now ruled against granting bail to the former lead maintainer at Monero. In its ruling, the court determined that Spagni, who is also known as ‘Fluffypony,’ failed to put up a convincing argument that he was not a flight risk.

Spagni’s Crypto Holdings Make Him a Flight Risk

Instead, according to a report, the court accepted the U.S. law enforcement’s argument that Riccardo Spagni’s significant cryptocurrency holdings make him a flight risk. Meanwhile, Spagni’s failure to secure bail means the South African government will proceed now with the submission of the extradition documents while he is in detention.

Spagni, who is facing charges of defrauding his former employer in South Africa, Cape Cookies, is being detained so he won’t leave the country before the conclusion case. This unsanctioned departure to the United States, in turn, prompted the magistrate court in Cape Town to issue a warrant for Spagni’s arrest.

Using this warrant, the U.S. Marshals were able to arrest and detain Spagni when the private jet he was traveling in was intercepted while it refueled in Nashville, Tennessee.

Tracking Spagni’s Movements

Meanwhile, court documents that narrate the events leading up to Spagni’s arrest suggest that prior to the arrest, the U.S. Marshals’ office had been notified of Spagni’s travel itinerary on the day in question. The documents also explain how the appearance of Spagni’s name on the plane’s passenger manifest sealed the crypto developer’s fate. The documents state:

When the manifest for the chartered flight was filed, Spagni’s name triggered a red notice flagging him as the subject of an international law enforcement request.

Still, as Ashley Allen, the Supervisory Deputy U.S. Marshal explained in court, law enforcement could still have located Spagni before his arrest on July 21, but this did not happen.

In the meantime, the court documents suggest that the South African government has had 60 days to submit the necessary documents to the United States for the extradition hearing. This period is set to expire on September 19, 2021.

Tags in this story
cryptocurrency holdings, Flight Risk, Law Enforcement, Monero, red notice, Riccardo Spagni, US Extradition, US Marshals

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Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

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