amitojsinghblog

[amitojsinghblog]

Montenegro’s Supreme Court to Rule on Do Kwon Extradition This Month: Report

Montenegro’s Supreme Court is reportedly set to decide by the end of this month whether the extradition process of Do Kwon involved legal violations.

According to a recent report by Vijesti, a Montenegrin newspaper, the court will review a request from the Supreme State Prosecutor alleging multiple breaches of law in the judgments made by lower courts regarding Kwon’s extradition.

Do Kwon’s Extradition Result in September

Acting Supreme Court President Vesna Vučković noted that the decision follows concerns over legal uncertainties raised in handling the case.

Vučković emphasized that the situation is particularly troubling given the short timeframe within which these violations were identified in the Do Kwon extradition case.

She suggested that the recent developments could have broader implications for judicial consistency and the perception of fairness in Montenegro’s legal system.

Vučković also indicated that the Supreme Court has been unable to schedule a session to deliberate on the prosecutor’s request due to what she described as “objective reasons,” further complicating the timeline for a final decision.

“That should worry us, because it creates additional legal uncertainty for citizens, but also for judges of lower courts, who monitor judicial practice,” said the acting president.

FutureNet Scheme Co-Founder Arrested in Montenegro

In August, Montenegrin police arrested Roman Ziemian, co-founder of the crypto fraud scheme FutureNet, in Podgorica, where he had been living under a false identity.

Authorities seized items and electronic devices believed to be connected to Ziemian’s activities. He was set to appear before Podgorica’s High Court to determine whether he will be extradited to face charges abroad.

FutureNet, co-founded by Ziemian in 2018, marketed itself as a multilevel marketing platform with its crypto, FuturoCoin (FTO). In 2019, Polish authorities labeled the platform a potential pyramid scheme.

The scheme collapsed in 2020 after South Korean authorities investigated complaints from 950 people who reported significant financial losses. Ziemian, previously arrested in Italy, had escaped house arrest.

[amitojsinghblog]

Montenegro’s Underworld: $21 Million Crypto Scam Unveiled as Roman Ziemian Faces Justice!

Recent developments in the cryptocurrency sphere have taken a dramatic turn with the arrest of a notable figure, Roman Ziemian, in Montenegro. This incident has captivated the crypto community, stirring discussions about security, regulation, and the implications of fraudulent activities within the digital currency space. Allegations are surfacing regarding a massive $21 million cryptocurrency fraud connected to Ziemian, prompting investigations that could have widespread repercussions.

Arrest Announcement

The arrest took place in Montenegro, where Ziemian was apprehended based on accusations of being involved in an extensive cryptocurrency scam. The scale of the alleged fraud, pegged at a staggering $21 million, has raised alarms about the risks lurking in the rapidly evolving crypto market.

Details of the Allegations

Nature of Fraud: Ziemian is accused of orchestrating fraudulent operations that misled investors, leading to significant financial losses. Amount Involved: Preliminary reports detail that the fraudulent activities may have siphoned off as much as $21 million from unsuspecting investors. Location of Arrest: The arrest occurred while Ziemian was in Montenegro, a location increasingly being viewed as a refuge for individuals linked to questionable financial practices.

Implications for the Crypto Community

The implications of this arrest extend far beyond an individual case:

Investor Trust: Incidents like this can erode investor confidence, especially for those who are new to the cryptocurrency landscape. Regulatory Scrutiny: Increased attention from regulators may follow, as authorities aim to crack down on fraudulent activities that tarnish the reputation of legitimate projects. Market Stability: Such scandals can contribute to market volatility, provoking cautious responses from investors.

The Bigger Picture

As authorities continue to delve into Ziemian’s activities, this case serves as a crucial reminder of the necessity for due diligence and vigilance within the cryptocurrency space. As the industry expands, ensuring transparency and accountability will be fundamental to fostering a healthy investment environment. With the stakes high, both investors and regulatory bodies must remain proactive in combating fraudulent schemes that seek to exploit the vulnerabilities inherent in digital currencies.

[amitojsinghblog]

FutureNet’s Roman Ziemian Arrested in Montenegro for Fraud

Roman Ziemian, a Polish national and co-founder of the digital currency platform FutureNet, has been arrested in Montenegro. This arrest marks a significant development in the ongoing saga of crypto-related fraud cases. Ziemian, who allegedly defrauded investors out of approximately $21 million, was apprehended after an extensive international law enforcement operation.

High-Tech Crime Operation

Montenegro’s police announced Ziemian’s detention, citing a collaborative effort involving Montenegrin authorities and Interpol. This operation was triggered after Ziemian managed to evade capture by escaping from house arrest in Italy in 2022. His whereabouts had been unknown until he was found hiding under a false identity in a newly developed residential area in Podgorica.

The arrest came after thorough investigations led by the Sector for Fighting Crime – Group for High-Tech Crime and the Regional Security Center “Centar.” Authorities confiscated various technical devices and items suspected to be related to Ziemian’s alleged criminal activities. The charges against him include money laundering, theft, and other economic crimes.

Do Kwon’s Arrest

This case is reminiscent of another high-profile crypto crime saga unfolding in Montenegro. Terraform Labs co-founder Do Kwon, who has been detained in the same country since March 2023, is also awaiting a decision on his extradition. 

South Korea and the United States are locked in a legal battle to secure Kwon’s extradition. Kwon’s arrest followed his use of a fake passport, further complicating the international legal landscape surrounding crypto fraud.

Ziemian’s Partner Arrested in Greece

Besides the arrest of Ziemian, it’s worth noting that another key figure associated with FutureNet, Stefan Morgenstern, was apprehended in Greece and later in Albania in 2023. This series of arrests highlights the ongoing challenges law enforcement faces in tracking and prosecuting individuals involved in large-scale crypto frauds.

Ziemian’s upcoming court appearance in Montenegro will determine his future. An investigating judge at the High Court in Podgorica will decide whether he will be extradited to Poland, South Korea, or any other jurisdiction pursuing charges against him. The global financial community will closely watch this decision, as it could set a precedent for handling international crypto fraud cases.

[amitojsinghblog]

Former property manager Jason Levy in prison for grand theft

Former International Village Property Manager Jason J. Levy, who was fired by the Board of Directors last April for gross misconduct along with the association’s former management company American Management Group (AMG), has pleaded guilty to first-degree felony grand theft and money laundering charges for embezzling more than $1.5 million from Dezer Hotel Corporation, a Miami Beach-based hotel chain that he managed before coming to International Village. Mr. Levy was booked into a Miami-Dade County jail last month and was transferred to a state prison facility on December 29.

The embezzlement scheme for which Mr. Levy was convicted was carried out over a four-year period from about 2005 to 2009, during which he created fraudulent company invoices for purchases or work that never took place and then pocketed the money for himself. After being fired and sued by Dezer Hotel and arrested and charged by the state, Mr. Levy filed for bankruptcy in an attempt to avoid paying back what he had stolen.

In 2012, despite being under criminal prosecution, and despite the overwhelming evidence of his guilt, Mr. Levy was hired by AMG and the previous Board of Directors to serve as International Village’s property manager. And unfortunately, though not surprisingly, Mr. Levy’s crooked habits continued unabated during his two years here.

But when the current Board of Directors fired Mr. Levy and AMG last April for the reasons I explained in my April 16, 2014 blog post, we had no idea just how far his fraudulent activities went. Since that time, our search and review of the association’s records has revealed that Mr. Levy, while managing International Village, engaged in an embezzlement scheme similar to what he was convicted for in the Dezer Hotel case, in addition to other misconduct designed to defraud the association of hundreds of thousands of dollars. Amazingly, some of these activities took place with the full knowledge and cooperation of at least one former Board member, which I will elaborate on in a future email/blog post. The Board of Directors has been in consultation with legal counsel about this serious matter and we are taking the appropriate steps.

Among the questions that need asking: Why was Mr. Levy hired by AMG despite being under felony prosecution for embezzlement? Why did the previous Board of Directors under former Board Presidents Marvin Tow and Charles Fitzpatrick hire AMG (in a secret March 2012 meeting that was improperly closed to unit owners) without conducting a simple background check on the company or its candidate for property manager, in gross violation of their fiduciary responsibilities? And how much did former Board members know about and participate in the fraud and misconduct that took place while AMG and Mr. Levy were managing International Village?

It is rumored that Mr. Tow, who was soundly defeated for reelection last year, has decided to run for the Board again this year, with the apparent goal of rehiring AMG. After all, bringing back AMG – despite their obvious wrongdoing – has been Mr. Tow’s mantra since the company’s contract was terminated. He even started a pro-AMG blog to praise the company and Mr. Levy (describing him as “exceptionally talented”) and to attack the current Board for firing them. When AMG vindictively sued me for doing my duty as a Director to expose the misconduct that led to their firing, Mr. Tow cheered and claimed that AMG’s bogus lawsuit (which it has since dropped) was “personal,” and just last week he repeated his defamatory lie that the association had paid for my “personal legal bills,” despite knowing that the association’s insurance carrier covered my defense in the case as it was obligated to do because it dealt with association matters.

Marvin Tow, let me make this perfectly clear: I’m proud of my role in helping International Village rid itself of AMG and Mr. Levy by blowing the whistle on their malfeasance. Getting rid of these crooks has saved the association more than a million dollars over the last year (as I have previously reported), and I would gladly do the same all over again – lawsuit or not. I’m not intimidated by AMG and its tiny but vocal corps of defenders, and I’m certainly not afraid of you. Should you decide to run for the Board, let me also put you on notice that your unwavering support of a now convicted felon and the company that hired and continued to defend him to the bitter end will certainly be made an issue in this campaign. Your complicity and cooperation in some of the fraudulent activities that AMG and Mr. Levy engaged in while you served as Board President also will be an issue.