Montenegrin authorities detained FutureNet co-founder Roman Ziemian at the request of Polish officials, accusing him of crypto fraud and of using a fake identity in the capital. They allege that he committed a $21M crypto-based fraud.
The Police Directorate in Montenegro stated on Aug. 19 that a specialized police unit discovered that Ziemian was using a fake identity and was residing in the country’s larger city of Podgorica.
South Korea and his native country, Poland, issued an arrest warrant accusing him of fraud, money laundering, and theft. The police added that South Korea could sentence him to life imprisonment.
The Police Directorate said they arrested electronic gadgets and other assets it believes Ziemian used in the commission of the alleged horrible crimes. Authorities will present Ziemian to a judge in Podgorica’s High Court, which will then decide on his extradition.
In March 2019, Poland’s Office of Competition and Consumer Protection (UOKIK) suggested that FutureNet could be a pyramid scheme. They reported that the firm sold ‘participation packages’ ranging from $10 to $10,000, promising wealth to investors who could recruit others into the scheme. In mid-2020, authorities in the Republic of Korea began investigating FutureNet after 950 residents reported losing millions on their investments
Ziemian Previous Arrests on Crypto Fraud
Italian authorities apprehended Ziemian in October 2022, reportedly right after he won a formal car race, while holding the trophy. Authorities placed him under house arrest, and he left the country shortly after.
Authorities arrested Morgenstern in Greece the same month. After his release from house arrest, he fled to Albania. In August 2023, Albanian authorities arrested him again.
Records from the Albanian Supreme Court indicate that Ziemian will face extradition to South Korea, where he might receive a life sentence. Ziemian’s situation parallels that of Terraform Labs co-founder Do Kwon. Authorities in Montenegro are holding both on crypto fraud charges, and they face extradition to South Korea.
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