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Stephan Morgenstern, co-founder of the FutureNet Ponzi scheme, has been detained in Greece.

Morgenstern was apprehended as part of a combined operation on October 26th.

Morgenstern and Ziemian were both apprehended based on international arrest orders issued by South Korea.

According to Khan (auto-translated from Korean);

As a consequence of the Kyunghyang Shinmun’s coverage on the 15th, Interpol detained A (49), a Pole, in Italy, and Mr. B (61), a German, in Greece, both of whom are accused of participating in the theft of 40.7 billion won from around 2,100 Koreans through multi-level financial fraud.

Stephan Morgenstern is referred to as “Mr.B.”

Morgenstern was detained while attempting to board an aircraft from Greece to Dubai, according to E-Thessalia.

Ziemian was apprehended in Italy after winning a race at a local Ferrari event.

Morgenstern (a German national) and Ziemian (a Polish citizen) moved to Dubai to evade punishment as former Polish residents.

The authorities in Dubai are unlikely to have helped South Korean officials catch Morgenstern and Ziemian.

Dubai is a refuge for MLM fraudsters due to a lack of extradition treaties and non-regulation of MLM-related securities fraud.

South Korean officials began investigating FutureNet in 2020 after receiving accusations from around 950 individuals.

FutureNet losses in Korea are estimated to be over 16 million euros. Authorities in South Korea claim to have frozen or are in the process of freezing Ziemian’s and Morgenstern’s ill-gotten wealth.

Both suspects are anticipated to be extradited to South Korea, where they will face charges of “aggravated fraud, money laundering, and high-tech criminal association.”

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