Lyoness @ BehindMLM

The Austrian Supreme Court has ruled that Lyoness’ affiliate contract and compensation plan are illegal. The decision follows legal action taken by the Austrian Association for Consumer Information (VKI). In Austria’s lower courts, VKI argued 47 contractual clauses that were part of Lyconet agreements and so-called Lyconet compensation plans … (lacked) transparent regulations and … [Continue reading…]

Last month Lyoness announced it was filing for bankruptcy in Europe. Now it’s been revealed the MLM Ponzi scheme is drowning in ~$110 million in debt.

Lyoness has filed for bankruptcy in Europe. As per an October 24th press-release issued by Richard Meixner, Managing Director of Lyoness Italy;

Two civilians have managed to get Lyoness’ bank accounts in South Africa frozen. As reported by MoneyWeb on September 1st;

Lyoness has received another cease and desist from the Norwegian Lottery Board.

The FTC has issued at least 379 MLM companies with deceptive and/or unfair conduct notices. This was announced by the FTC on October 26th. If it slipped under your radar, you’re not alone. I learned of the FTC’s announcement via a tip sent in by a reader. At first I thought there was some funny [Continue reading…]

Lyoness has lost a five-year defamation lawsuit brought against two bloggers in Poland. The suit pertained to articles published under the pseudonym “antylyoness” on the “blox.pl” website from 2013.

Polish prosecutors have seized $6.4 million from Lyoness’ bank accounts. The accounts were held with ING Bank Slaski SA and contain a mix of euros and zloty (PLN).

Lyconet has been added to the Central Bank of Russia’s illegal company blacklist.

Lyoness’ eCredits spinoff has received a securities fraud warning from Liechtenstein’s Financial Market Authority.