Ponzi

Solana

FuturoCoin

<ul>
 <li>FutureNet, co-founded in 2018, was flagged as a potential pyramid scheme.</li>
 <li>Roman Ziemian was arrested in Montenegro for allegedly running a $21M Ponzi scheme.</li>
 <li>Ziemian faces life imprisonment for fraud charges after escaping house arrest in Italy.</li>
</ul>
Montenegrin authorities have <a href="https://www.binance.com/en/square/post/2024-08-21-futurenet-co-founder-arrested-in-montenegro-for-alleged-crypto-fraud-12451861842618" target="_blank" rel="noopener noreferrer nofollow">captured</a> Roman Ziemian, the co-founder of FutureNet, a crypto project in connection with a $21M cryptocurrency fraud. The arrest happened on August 17 in Podgorica, the capital of Montenegro. It was <a href="https://www.gov.me/clanak/u-podgorici-uhapseno-medunarodno-trazeno-lice-koje-se-sumnjici-za-visemilionske-prevare" target="_blank" rel="noopener noreferrer nofollow">reported </a>that Ziemian was living under a false identity.
Roman Ziemian is accused of orchestrating an elaborate Ponzi scheme through <a href="https://x.com/FutureNet_Site/status/939254053858676736" target="_blank" rel="noopener noreferrer nofollow">FutureNet</a> after 950 people claimed to have lost millions investing in it. The scheme promised significant returns. In addition, Poland’s Office of Competition and Consumer Protection (UOKIK) <a href="https://archiwum.uokik.gov.pl/aktualnosci.php?news_id=15298" target="_blank" rel="noopener noreferrer nofollow">warned</a> that it involved selling “participation packages” ranging from <a href="https://archiwum.uokik.gov.pl/aktualnosci.php?news_id=15298" target="_blank" rel="noopener noreferrer nofollow">$10 to $1000</a>. It claimed to come with profits, dependent on recruiting others to invest.
Further, <a href="https://thenewscrypto.com/south-korean-officials-face-trial-for-bribery-in-crypto-fraud-case/" target="_blank" rel="noopener noreferrer nofollow">South Korea</a> and Poland had issued arrest warrants for Ziemian, accusing him of fraud, money laundering, and theft. Particularly, South Korean authorities have warned that he could face life imprisonment if convicted. Ziemian was previously arrested in Italy in 2022 but managed to escape while on house arrest.
<h3 class="wp-block-heading" id="h-ziemian-s-arrest-highlights-intensifying-global-crackdown-on-crypto-fraud">Ziemian’s Arrest Highlights Intensifying Global Crackdown on Crypto Fraud</h3>
In contrast, FutureNet co-founded by Ziemian and Stephan Morgenstern in 2018, was promoted as a multilevel marketing scheme with an associated <a href="https://thenewscrypto.com/crypto-scams-soar-fbi-reports-3-94-billion-losses-in-2023/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency</a>, FuturoCoin (FTO). However, the token has since lost significant value. Poland’s Office of Competition and Consumer Protection had flagged FutureNet as a potential <a href="https://www.kg-legal.eu/info/cross-border-cases/penalties-for-promoting-pyramid-schemes-in-poland-decisions-of-the-president-of-the-polish-office-for-the-protection-of-competition-and-consumers/" target="_blank" rel="noopener noreferrer nofollow">pyramid scheme</a> in 2019.
The arrest of Ziemian highlights the recent case of <a href="https://thenewscrypto.com/terraform-labs-linked-lfg-announces-moving-assets-post-sec-settlement/" target="_blank" rel="noopener noreferrer nofollow">Terraform</a> Labs co-founder Do Kwon, who is also being held in Montenegro. Ziemian’s legal representatives have denied the allegations, saying that the accusations are false. They are appealing his extradition, claiming to prove his innocence in court.
Lastly, Ziemian’s case underscores the growing global scrutiny of <a href="https://thenewscrypto.com/chinese-students-crypto-fraud-sentencing-sparks-legal-debate/" target="_blank" rel="noopener noreferrer nofollow">crypto-related fraud. </a>As authorities continue to investigate, the outcome of his extradition will be closely watched, particularly by those affected by the FutureNet scheme and the broader crypto community.
Highlighted Crypto News Today: <a href="https://thenewscrypto.com/brazilian-regulator-greenlights-second-solana-etf-this-month/" target="_blank" rel="noopener noreferrer nofollow">Brazilian Regulator Greenlights Second Solana ETF This Month</a>

FutureNet Co founder Arrested in Montenegro over Crypto Fraud Case

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