Fugitive SA crypto techie 'Fluffypony' horsing around with Paris Hilton could halt bail bid

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
0:00
play article
Subscribers can listen to this article
Riccardo Spagni, left, poses with Paris Hilton and others in a tweet from TechCrunch founder Michael Arrington on 6 June.
Riccardo Spagni, left, poses with Paris Hilton and others in a tweet from TechCrunch founder Michael Arrington on 6 June.
Twitter/@arrington

A picture with US socialite Paris Hilton could prove to be a thorn in the side for South African crypto developer Riccardo "Fluffypony" Spagni, who was arrested in the US last month and is waiting to hear whether he will get bail ahead of an extradition hearing.

While Spagni's team of lawyers have cited health concerns and "daily anxiety" about contracting Covid-19 as a reason to let him out on bail, the US government is arguing that Spagni's "purported concern" around catching the virus is not backed up by facts given his travel history. 

Spagni was taken into custody by US Marshals in Tennessee last month at the request of SA authorities, who want him extradited back home to face fraud charges.  He is accused of defrauding Cape Cookies of around R1.4 million between 2009 and 2011 by submitting falsified and inflated technology invoices. He has pleaded not guilty, and his US lawyers have called the case against him "fatally flawed". 

Support independent journalism
Subscribe to News24 for just R75 per month to read all our investigative and in-depth journalism. You can cancel any time.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
15.10
+0.9%
Rand - Pound
20.46
-0.0%
Rand - Euro
17.13
-0.0%
Rand - Aus dollar
10.85
-0.0%
Rand - Yen
0.13
-0.0%
Gold
1,834.71
0.0%
Silver
24.29
0.0%
Palladium
2,111.50
0.0%
Platinum
1,034.00
0.0%
Brent Crude
87.89
-0.6%
Top 40
68,186
-2.1%
All Share
74,835
-1.9%
Resource 10
74,924
-3.0%
Industrial 25
94,147
-1.8%
Financial 15
15,076
-0.2%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot