Lyoness is based out of Austria. The company was founded by Hubert Freidl all the way back in 2003. BehindMLM first reviewed Lyoness in 2012. An updated review of Lyconet was published in 2014. In between reviews and since then, we’ve been following significant developments. And there’s been quite a few. To keep thing simple […]
Cashback World, Lyconet & Lyoness in 2021 Read More »
Italy’s Competition Authority has once again found Lyoness to be an illegal pyramid scheme. The company has been issued with another €3 million EUR fine ($3.6 million USD). According to the AGCM’s January 25th press-release, Lyoness, operating as myWorld Italia and Lyconet Italia is promoted in a deceptive and not very transparent way and has
Lyoness still a pyramid scheme in Italy, fined another 3 mill Read More »
Oslo police have decided it’s not worth pursuing an investigation into Lyoness. Audun Kristiansen, a prosecutor at the joint unit for intelligence and investigation, told E24 In light of the current situation and that the case will require considerable resources over a long period of time, we consider it necessary to allocate resources elsewhere. Last
Norwegian police drop Lyoness case due to lack of resources Read More »
Lyoness appear to be gearing up to use passive real-estate returns to encourage shopping unit investment. The news broke on March 28th, via a webinar featuring CEO Hubert Friedl. The original webinar is in German. The folks over at BE KonfliktManagement have however kindly provided us a translation rundown. Lyoness’ real-estate deal was pitched as
Lyoness using real-estate returns to solicit investment? Read More »
Poland’s top consumer protection agency has ruled Lyoness is a pyramid scheme. The Office of Competition and Consumer Protection (UOKiK) handed down their decision on December 30th, 2019. I believe however it was only recently released to public, as evidenced by local news picking up the story a few days ago. As per UOKiK’s decision,
Lyoness a pyramid scheme in Poland Read More »
The Norwegian Gaming Board has reported Lyoness to local police. The regulator suspects Lyoness, who also operates at Lyconet and Cashback World, has committed “criminal offenses” across the country. As per a November 19th press-release, the Gaming Board advises Lyoness has been reported to public prosecutors. The Gaming Board’s report includes their investigation into Lyoness’
Lyoness reported to Norwegian police for criminal offenses Read More »
Following regulatory pressure and court decisions that have gone against it, Lyoness appears to be distancing itself from Europe. Desperate to keep new investment rolling after Italy outlawed the Ponzi scheme, Lyoness is gearing up for a push into Malaysia, Saudi Arabia and Colombia. As they do in each new country they expand the unit
Lyoness Ponzi to target Malaysia, Saudi Arabia & Colombia Read More »
A top Lyoness distributor, who claims to have over 2 million members under him, has admitted “focusing on shopping is a mistake”. Daniel Gergics is a Hungarian Lyoness distributor. In 2014 the company welcomes Gergics to its elite “Presidents Club”. According to Gergics, his Lyoness career has netted him over £1 million GBP. An undated
Lyoness President claims “pushing shopping is a mistake” Read More »
As part of a consumer protection ruling in Austria, Lyoness has been ordered to compensate victims with interest. The ruling covers Lyoness victim losses on investments made between 2007 to 2009 and in 2012. The ruling is based on the finding that the contracts Lyoness used to dupe investors during these years were illegal. In
Lyoness victims able to recover 2007 to 2012 losses Read More »
