FutureNet Ponzi scammer Stephan Morgenstern will be extradited from Albania to South Korea.

Following Morgenstern’s rearrest in Albania after he fled Greece last year, South Korean authorities renewed extradition proceedings.

As reported by Zeri last November;

German fraudster Stephan Morgenstern, arrested in August 2023 at Rinas airport, will be extradited to South Korea, where he is expected to face a life sentence.

After Albania approved Morgenstern’s extradition he filed an appeal.

The Supreme Court of Albania denied Morgenstern’s appeal on March 5th, paving the way for Morgenstern’s extradition.

Thus far authorities in Europe have seized assets and around 123 million euros. Pending cooperation from Dubai’s authorities, more seizures are on the table.

Interpol and relevant prosecutors from five countries working together have jointly asked the United Arab Emirates authorities in recent days to freeze his assets in Dubai.

In addition to facing criminal charges in South Korea, Morgenstern and accomplice Roman Zieman are wanted by Polish authorities.

The District Prosecutor’s Office in Wroclaw confirmed the pair have active European arrest warrants out on them.

In parallel with the South Korean FutureNet investigation, Polish authorities made three arrests last September.

On September 20-21, 2023, as part of the activities carried out, three more suspects were arrested and presented, among others: charges of acting in an organized criminal group aimed at committing crimes against property as part of the described activities.

In relation to one of these people, the court applied a preventive measure in the form of temporary arrest, and by decision of the prosecutor, preventive measures in the form of police supervision, a ban on leaving the country and property bail were applied to the remaining two suspects.

The Polish FutureNet investigation has uncovered investor losses of 90 million zl (~$22.5 million USD).

Roman Zieman was arrested in Italy on a South Korean arrest warrant in November 2022. After interrogating Zieman, Italian authorities released Zieman and he fled the country.

Zieman, originally from Poland, fled to Dubai in the late 2010s.

Sheltered by Dubai’s corrupt authorities, Zieman has been living openly on investor funds stolen through FutureNet.

After FutureNet, Ziemian reinvented himself as a Ferrari F1 driver.

It is assumed after fleeing Italy last year Zieman returned to Dubai. He remains wanted by European and South Korean authorities.