Two civilians have managed to get Lyoness’ financial institution accounts in South Africa frozen.
As reported by MoneyWeb on September 1st;
The applying was introduced on Sunday night by Jianliu Lin and her husband Adriaan van den Bergh, each members of the multi-level advertising and marketing scheme.
The ex parte (the place the courtroom hears just one facet of the case) utility was introduced late on Sunday in order that Customary Financial institution could possibly be served with the order very first thing on Monday (29 August) to stop any switch of funds out of the corporate checking account.
Lin and van der Bergh, declare they introduced their utility “within the public curiosity”, on suspicion Lyoness is a Ponzi scheme.
Regardless of showing to be a serious promoter of Lyoness in South Africa, Lin frames herself as a sufferer.
Lin turned a vp in 2018 and invested a complete of R6.1 million.
Lin explains how she paid one other R4.5 million to the identical Customary Checking account, for which she obtained 594.66 ‘Enterprise Clouds’ every value R7 500.
“What I’ve observed is that seemingly Lyconet retains on rebranding the totally different merchandise, thus as quickly as I’m entitled to a payout in respect of the factors, there’s a title change, and the branded merchandise now not exists, and I obtain no payout,” she says her affidavit.
“I’m really trapped. I can actually say that consenting to the fixed rebranding and changing of merchandise of Lyconet shouldn’t be given willingly. Lyconet has trapped me. I both tick the field or lose all of it.”
What triggered the ex-parte freeze utility was Lyoness draining the R300 million held of their South African financial institution accounts, to simply R11.4 million over just a few weeks in June 2022 ($17.4 million all the way down to $664,467 USD).
Lyoness and its related firms are operated from Austria by proprietor Hubert Friedl (proper).
The granted freeze will stay in place for 120 days.
Lin and Van den Bergh’s legal professional claims complaints have been filed with the FSCA, the FIC and native police in Pretoria. They hope authorities will examine “the place the cash went”.
As with its funding schemes, Lyoness often modifications firm names. Though Lyoness is its most well-known branding, the Ponzi scheme additionally goes by Lyconet, CashBack World and myWorld.
No matter Lyoness recruitment was stepping into South Africa has long-since collapsed. SimilarWeb doesn’t chart South Africa as a noticeable supply of site visitors to any of Lyoness’ web sites.
BehindMLM final reviewed Lyoness as myWorld in Feb 2021. The Ponzi scheme has just lately unfold again to Europe.
SimilarWeb site visitors stats recommend a latest recruitment increase within the Czech Republic and Germany has collapsed. New Lyoness buyers are at present being recruited in Poland and Greece.