Monero: dev Riccardo Spagni released
Monero: dev Riccardo Spagni released
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Monero: dev Riccardo Spagni released

By Vincenzo Cacioppoli - 18 Jul 2022

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A South African regional court recently decided to release former Monero chief developer Riccardo Spagni from custody. 

The ruling came just days after he was arrested by local law enforcement. Spagni was in US custody awaiting extradition to South Africa to answer fraud charges brought by the South African government. 

In a tweet dated 21 September, the former developer and creator of Monero had reiterated his willingness to return to South Africa to answer the charges against him.

The facts about Riccardo Spagni

The charges relate to alleged legal fraud committed by Spagni in South Africa from 2009 to 2011. If the charges are confirmed, Spagni could face up to 20 years in prison.

In June 2021, Spagni was arrested by US authorities at the request of the South African government after South African authorities issued an international arrest warrant for as many as 378 counts of fraud and counterfeiting in his home country. He was then held a full 60 days in solitary confinement on contempt charges.

He was then released on 21 September pending extradition, which came a few days ago. Spagni, who participated in the development of the cryptocurrency Monero, allegedly defrauded for about $100,000.

Spagni was extradited to South Africa, where he has already appeared before a court last week. His trouble with the South African justice system dates back to 2012, when he was arrested in Cape Town. According to court sources, Spagni reportedly pleaded not guilty in court.

Spagni also reportedly reiterated that he was not responsible for his failure to appear at scheduled court hearings. 

The former Monero developer confirmed that he initially opposed extradition on the grounds that the charges were unfounded and that he chose to return to South Africa “voluntarily under circumstances where my release on warning had not been canceled and the state had to cancel it”.

According to what are the latest rumors, Spagni is scheduled to return to court on 19 July.  

Vincenzo Cacioppoli

Vincenzo was born in Genova but lived most of his life in Milan. He has a degree in political science. He is a journalist, blogger, writer, and marketing and digital advertising expert. After a long experience in traditional marketing, he started working with the web and digital advertising in 2011, creating a company called Le enfants. Passionate about the web and innovation, in 2018 he started exploring the topics related to blockchain technology and cryptocurrencies. Independent cryptocurrency trader since March 2018, he now collaborates with companies in the sector as a content marketing specialist. In his blog. mediateccando.blogspot.com, he has long been primarily focused on blockchain, which he considers to be the greatest technological innovation after the Internet. His first book about blockchain and fintech is scheduled for release in November.

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