Stephan Morgenstern was arrested in Greece. He was a co-founder of the FutureNet Ponzi scheme.

Morgenstern was arrested on October 26 as part of a joint operation.

South Korea issued international arrest warrants for both Morgenstern and Ziemian, which led to their arrest.

Khan said (the Korean was automatically translated):

Due to the Kyunghyang Shinmun’s coverage on the 15th, Interpol arrested A (49), a Pole, in Italy, and Mr. B (61), a German, in Greece. They are suspected of taking part in a multi-level financial fraud scheme to steal 40,7 billion won from about 2,100 Koreans.

Stephan Morgenstern is who “Mr. B.” refers to.

E-Thessalia says Morgenstern was caught when he tried to get on a plane from Greece to Dubai.

After winning a race at a local Ferrari event, Ziemian was arrested in Italy.

Morgenstern, who is German, and Ziemian, who is Polish, used to live in Poland, but they ran away to Dubai to avoid being arrested.

It’s not likely that Dubai’s authorities helped South Korean authorities catch Morgenstern and Ziemian.

Dubai is a crime haven for MLM scammers because there are no extradition treaties and securities fraud related to MLM is not regulated.

In 2020, South Korean authorities began to look into FutureNet after complaints from about 950 victims.

FutureNet has been said to have lost about 16 million euros in Korea. South Korean authorities say they have or are in the process of freezing Ziemian and Morgenstern’s ill-gotten gains.

Both suspects are expected to be sent to South Korea, where they have been officially charged with “aggravated fraud, money laundering, and high-tech criminal association.”

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