The Greek police arrested the German Stephan Morgenstern, who was wanted by Interpol on the basis of an international arrest warrant, at Athens airport. He is co-founder of the FutureNet pyramid scheme, which duped many investors, especially in Europe and Asia, in the middle of the last decade. Morgenstern, who retired to Dubai after the collapse of the pyramid system and started selling luxury cars there, personally recruited potential new employees for FutureNet in Slovenia several times. Another founder of this Ponzi scheme, the Pole Roman Ziemian, was arrested in Italy a few weeks ago.
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62-year-old Stephan Morgenstern was arrested on October 26 at Athens International Airport where he was trying to board a flight to Dubai, but Greek authorities released the information just days ago. Most likely it was an operation coordinated by the Greek police with their Italian counterparts and Interpol: as we have already reportedHis colleague Ziemian was also arrested at the famous race track in Imola at the end of October.
The arrest warrant for the founders of the FutureNet pyramid scheme was issued by South Korea, where they are charged with financial fraud and harming more than two thousand people who have filed complaints against a German and a Pole.
Stephan Morgenster (left) and Roman Ziemian (right), the founders of the FutureNet pyramid scheme, are expected to be extradited to South Korea.
Stephan Morgenster (left) and Roman Ziemian (right), the founders of the FutureNet pyramid scheme, are expected to be extradited to South Korea.
They raised 111 million euros, part of it in Slovenia, and started dealing in Ferraris
Morgenstern and Ziemian swapped European residences for the United Arab Emirates just over three years ago, specifically Dubai, known as a safe haven for scammers who made their fortunes in Ponzi schemes, when it became clear FutureNet was about to implode. According to estimates by the South Korean authorities, FutureNet caused around 28 million euros in damage to victims in their country alone, and the total proceeds from the scam organizers, who were of course at the top of the pyramid, flowed to all around the world amounted to around 111 million euros, reported Kyunghyang on Tuesday Shinmun, one of South Korea’s largest media outlets.
Morgenstern opened a sports car showroom in Dubai, and Ziemian obtained a driver’s license under the auspices of the Ferrari concern and competed in races around the world. He was also arrested on his last.
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A German and a Pole founded the FutureNet pyramid scheme in 2014. At first it was just a simple matrix for recruiting new members without a specific product, then clicks on advertisements were added, finally its own cryptocurrency and the promise of building its own ecosystem, which also includes social networks and shopping platforms. It was sort of a textbook example of a 2015-2020 pyramid scheme that claims to be based on modern technology but is actually based only on the clouds.
FutureNet recruited new members practically all over the world and very actively also in Slovenia. Regular meetings of recruiters with potential investors took place in several locations between 2016 and 2019, Morgenstern, co-founder of FutureNet, also visited Slovenia several times. A German in Maribor:
https://www.youtube.com/watch?v=SkgYP3Y5qiY
FutureNet is – probably with the aim of giving the impression that the activity of the organization in Slovenia is completely legitimate – also sponsored Formerly one of the best Slovenian futsal clubs, FutureNet Maribor:
https://www.youtube.com/watch?v=iEHjFrhKdCY
Cash flow virtually dried up in 2019 after the FutureNet cryptocurrency collapse and fresh capital dried up as potential investors dwindled, This was also influenced by the collapse of the mega Ponzi scheme OneCoin, which discouraged many from investing in similar projects. At this point, almost all of FutureNet’s online advertising was also discontinued. The last video FutureNet posted to its previously very active YouTube channel was on September 11, 2019.
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