TechFlow news: On August 19, authorities in Montenegro announced the arrest of Roman Ziemian, co-founder of FutureNet, suspected of involvement in a $21 million cryptocurrency fraud case. The Montenegrin Police Department stated that a specialized police unit discovered Ziemian living under a false identity in the capital city of Podgorica. Arrest warrants have been issued for Ziemian by South Korea and Poland—his home country—on charges including fraud, money laundering, and theft. Authorities say Ziemian could face life imprisonment in South Korea.
The police also seized devices and items believed to have been used by Ziemian in the crimes. Ziemian will appear before the Higher Court in Podgorica to determine matters regarding his extradition.
FutureNet was co-founded by Ziemian and Stephan Morgenstern in 2018 and had previously been flagged by Polish authorities as a potential pyramid scheme. In mid-2020, South Korean authorities began investigating FutureNet after 950 individuals claimed to have lost millions of dollars investing in the project. Morgenstern was arrested in Albania in August 2023 and is set to be extradited to South Korea.
