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| Stephan Morgenstern in Albanian Court |
Stephan Morgenstern, a German national accused of large-scale fraud, is set to be extradited from Albania to South Korea, where he could face a life sentence. The 61-year-old was arrested in Tirana in August 2023 after evading authorities across multiple countries.
Morgenstern, who had been living in Dubai, is believed to have orchestrated a vast international fraud scheme. Authorities have seized assets and bank accounts tied to him and his network valued at €123 million—an amount investigators say represents less than a third of their total illicit gains.
International efforts to bring him to justice have intensified. Interpol, along with prosecutors from five countries, recently urged the United Arab Emirates to freeze his substantial assets held in Dubai. Meanwhile, his alleged accomplice, Roman Ziemian, remains at large. Morgenstern’s wife and several associates are also under investigation, accused of helping to conceal the group’s illegally obtained wealth.
In December 2022, Morgenstern was detained in Greece while attempting to board a flight to Dubai. Though a Greek court placed him under house arrest, he managed to flee to Albania, where he remained in hiding until his capture at Rinas Airport while waiting for his wife, who had just arrived from Dubai.
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| Criminal case at the Supreme Court of the Republic of Albania with number 61010-00539-00-2024, Stephan Morgenstern |
South Korean prosecutors have since expanded their investigation, adding Morgenstern’s wife and other known associates to the list of suspects. Authorities believe this group actively worked to hide the stolen funds and launder the proceeds through real estate and other assets. During his arrest in Tirana, officials discovered that Morgenstern had recently purchased a luxurious villa on the city's outskirts.
The extradition marks a significant step forward in the multinational investigation, which continues to pursue the full network behind the elaborate financial crimes.
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