The co-founder of FutureNet, a social media platform that uses a cryptocurrency named FuturoCoin, has been arrested in Montenegro due to allegations of a $21 million fraud. The Polish national, Roman Ziemian, is accused of operating an illegal pyramid scheme through the FutureNet platform, which reportedly has over 4 million users across the globe. Montenegro authorities acted on an international warrant issued by Poland in connection with crimes of fraud and money laundering.
FutureNet, which was launched in 2014, represents itself as a multi-level marketing company that offers users the ability to earn money through a variety of methods, including recruitment referrals. However, critics argue that the business model is similar to a Ponzi scheme, where returns are paid with money from new recruits instead of profits. The arrest of Roman Ziemian serves as a stark reminder of the risks associated with cryptocurrency investments and the importance of regulatory scrutiny in this fast-growing sector.
