Russian tycoon loses third WA bail bid

A Russian-born technology tycoon accused of taking part in a multi-million dollar text message scam in the United States has lost his third bid to get out of jail in Perth ahead of an extradition hearing.

Eugeni "Zhenya" Tsvetnenko, 39, was charged by New York authorities in mid-2016 with wire fraud, conspiracy to commit wire fraud and conspiracy to commit money laundering.

He was arrested at his Applecross home five days before Christmas and detained at Hakea Prison.

When the father-of-two sought bail in January, he was deemed a flight risk, and his Federal Court challenge the following month failed.

That judgment was appealed before the full bench of the Federal Court, but on Friday the case was dismissed and costs were awarded to the US authorities.

"It has not been shown that there was any jurisdictional error in the magistrate's decision," the judges found.

"It follows that the primary judge was correct to dismiss the application for judicial review."

Lawyer Anthony Young had earlier argued Tsvetnenko's special circumstances were not properly considered.

Tsvetnenko, who suffers from a painful spinal condition that requires hydrotherapy, is scheduled to face an extradition hearing in August.

It is alleged Tsvetnenko and his co-offenders charged mobile phone customers $US9.99 per month for unsolicited, recurring text messages about horoscopes, celebrity gossip and trivia between 2011 and 2013.

Illegal profits totalling more than $US150 million were allegedly used to fund lavish lifestyles.

Others nabbed in the investigation include Darcy Wedd and Fraser Thompson, who were sentenced to 10 years and five years behind bars, respectively.

Tsvetnenko previously told AAP through a spokeswoman he was not guilty.