Lyconet has been added to the Central Financial institution of Russia’s unlawful firm blacklist.
As per the Central Financial institution, it has established the Lyconet reveals “indicators of a pyramid scheme”.
In consequence, the Central financial institution states Lyconet is engaged in “unlawful actions”.
Lyconet was added to the Central Financial institution’s blacklist on June 1st, 2021.
Lyconet is a part of the long-running Lyoness Ponzi scheme. Related corporations embody myWorld and CashbackWorld.
Different international locations which have declared Lyoness a pyramid scheme embody Poland, Italy, Norway, Switzerland and Greece.
Lyoness was based in 2003 by Hubert Freidl (proper).
Freidl runs the Ponzi scheme from his native Austria.