Monero Cryptocurrency Creator Arrested In USA

Ricardo Spagni, a former creator of cryptocurrency Monero (XMR), was arrested last month in Nashville, Tennessee on fraud charges related to alleged crimes in South Africa between 2009 and 2011.

The charge says that Riccardo Spagni intercepted and forged invoices. The final bank account was allegedly controlled by him. The damage is estimated at $ 100,000.

In a court statement, Acting United States Attorney Mary Jane Stewart asked the court to reject any requests by Spagni for bail "pending the resolution of this extradition proceeding." The document describes Spagni as a person with a strong motivation to flee in order to avoid being charged. He is believed to have "significant crypto assets" as well as a $ 800,000 watch.

On August 5, a court hearing will take place, at which it will be decided whether Spagni will be detained pending consideration of his case.

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