Crypto developer Riccardo Spagni, extradited from the US, has appeared in the Cape Town Regional Court after being arrested at OR Tambo International Airport, reports the Cape Argus.

Spagni, also known as ‘Fluffypony’ in crypto circles, had failed to appear in the court for a partly heard matter which dates back to 2012.

He had launched various unsuccessful applications in the Western Cape High Court to resist his extradition from the US but eventually handed himself over to the authorities.

A summary of inquiry as to Spagni’s absence from court was set down to be heard in court on Tuesday to determine whether he would remain in custody or whether his release on warning would still be in effect.

However, the matter was rolled over to yesterday for further representations by the defence and the state.

Spagni has been charged with more than 350 counts of fraud, forgery, uttering and contraventions of the Value Added Tax Act for allegedly siphoning funds from Cape Cookies, where he worked as an information technology manager during October 2009 and June 2011.

It is alleged that Spagni made false representations to the company on goods and services rendered and claimed funds which amounted to more than R1.4m.

Full Cape Argus report