- FutureNet co-founder Roman Ziemian was arrested and faces life in prison for $21M fraud.
- Ziemian’s arrest reflects a global attack on crypto fraud, following previous high-profile cases such as Terraform Labs’.
As a seasoned researcher with a keen interest in the world of cryptocurrencies, I find myself deeply troubled by the latest developments involving Roman Ziemian and his alleged involvement in the FutureNet fraud case. The arrest of this high-profile figure is yet another reminder that the crypto landscape, while promising, can also be fraught with danger and deceit.
Roman Ziemian, one of the co-founders of the alleged crypto fraud scheme FutureNet, has been jailed in Podgorica, Montenegro, under suspicion of swindling investors out of nearly $21 million. As per the Police Directorate, at the time of his arrest, Ziemian was operating under a false identity.
In my capacity as an analyst, I am compelled to share that I am under the scrutiny of law enforcement agencies in both South Korea and Poland, owing to allegations involving significant crimes such as fraud, money laundering, and theft. If found guilty, South Korean authorities have indicated that a life sentence may be the outcome.
FutureNet Fraud Case Expands
After his apprehension, the Montenegrin authorities retrieved several items and devices suspected to be linked to his supposed illicit actions. Ziemian will face Podgorica’s High Court to decide on whether he will be expelled.
As a crypto investor, I’ve been following FutureNet, a multi-level marketing network established by Ziemian and Stephan Morgenstern in 2018, which is associated with the cryptocurrency known as FuturoCoin (FTO). Unfortunately, the value of this token has plummeted significantly, leading me to question the authenticity of the scheme. This steep decline suggests that something may not be quite right with it.
Back in March 2019, Poland’s Office of Competition and Consumer Protection issued a warning about FutureNet, likening it to a possible pyramid scheme. The threads of this scheme started to come undone in the middle of 2020 when South Korean authorities looked into complaints from no less than 950 individuals.
In the autumn of 2022, I found myself in a tricky situation when I was apprehended in Italy. However, I managed to elude house arrest. Unfortunately, my partner Morgenstern also faced arrest and was later re-captured in Albania. Now, we’re both expected to be extradited to South Korea.
The case is similar to that of Do Kwon, co-founder of Terraform Labs, who is also jailed in Montenegro and faces extradition charges relating to the $40 billion Terra/LUNA collapse.
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2024-08-22 11:01