Stephan Morgenstern, a co-founder of the FutureNet Ponzi scheme, has opened a luxurious automotive storage in Dubai.
Morgenstern’s new firm is known as “The Area,” the world’s first and solely unique, modern, and distinctive house for the world’s most luxurious automobiles.
The house could be rented to host occasions. Fundraisers, gala dinners, vogue exhibits, grand openings, conferences, and personal events are all examples of company occasions and gatherings.
The Area symbolizes “the traders’ excellent, hard-won accomplishment in reaching the highest,” in line with the web site.
Then there’s the promoting. The SPACE sports activities centre shall be residence to plenty of high-profile athletes and VIPs. The house can also be “the place the place desires are fulfilled.”
Ponzi scheme victims have misplaced tens of millions of {dollars} on these desires. Roman Ziemian and Morgenstern based FutureNet in 2014.
Initially, FutureNet used a six-tiered Ponzi scheme. FutureNet’s revshare Ponzi, FutureAdPro, was added to the community in 2016.The 12 months 2017 noticed the rise of cryptocurrency fraud.
FutureNet was in decline by the tip of 2018, when this text was written.A 12 months or so later, it was fully demolished. Precisely how a lot FutureNet victims have been conned by Morgenstern and Ziemian is unknown.
Complaints from 950 future traders prompted an investigation by South Korean authorities in June 2020. A complete of $16.1 million is alleged to have been misplaced by FutureNet victims in South Korea.
FutureNet was promoted in plenty of international locations, together with South Korea. A felony investigation into FutureNet was introduced by Polish authorities in early 2019.
Morgenstern’s resolution to flee Poland for Dubai might have been motivated by this. Dubai is named the MLM rip-off capital of the world.Because of the lack of regulation of MLM-related securities fraud and restricted extradition treaties, the emirate gives a haven for scammers like Morgenstern.
After I noticed Morgenstern’s identify pop up, I knew I needed to discover out what had occurred to Ziemian.
FutureNet cash seems to be going towards a Ferrari fantasy.
Ziemian, in the meantime, has reportedly made his strategy to Dubai.
