FutureNet founder arrested for alleged crypto fraud

Roman ZiemianRoman Ziemian (attribution)
Roman Ziemian, a co-founder of the alleged crypto pyramid scheme FutureNet, was arrested in Montenegro, where he was living under a false identity. He had previously been arrested in Italy in October 2022, but fled the country after being released to home confinement. Ziemian’s co-founder, Stephan Morgenstern, had also fled authorities after being arrested and released to home confinement in Greece, but was arrested again in Albania in August 2023.

Ziemian was wanted on international warrants from Poland and South Korea. FutureNet, which was established in 2018 and purported to be a crypto trading platform, is alleged to have defrauded numerous people of a combined $21 million. Victims were encouraged to buy "participation packages", and earn rewards for referring others to the scheme. Polish authorities warned that FutureNet might be a pyramid scheme in 2019, and South Korea began an investigation into the company in 2020.

Ziemian faces fraud, money laundering, and theft charges, which could be punished by life imprisonment in South Korea.