Lyconet declared insolvent in Europe
Following on from myWorld filing for bankruptcy in 2023 and being declared insolvent earlier this week, Lyconet has now also been declared insolvent.
Lyoness @ BehindMLM
myWorld (Lyoness) declared insolvent in Europe
Following myWorld filing for bankruptcy and reports it was drowning in $110 million in debt in 2023, myWorld has been declared insolvent in Europe.
myWorld’s Joaquin Garcia de la Brena arrested in Spain
The head of myWorld Spain has been arrested on pyramid fraud charges. Spain’s National Police confirmed the arrest in a July 31st press-release.
Austrian Supreme Court certifies Lyoness contracts illegal
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…]
Lyoness drowning in $110 million of debt
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 files for bankruptcy in Europe
Lyoness has filed for bankruptcy in Europe. As per an October 24th press-release issued by Richard Meixner, Managing Director of Lyoness Italy;
Lyoness’ accounts frozen in South Africa, Ponzi lawsuit
Two civilians have managed to get Lyoness’ bank accounts in South Africa frozen. As reported by MoneyWeb on September 1st;
Lyoness scammers continue promoting in Norway, warned again
Lyoness has received another cease and desist from the Norwegian Lottery Board.
FTC sends 379 MLM companies deceptive/unfair conduct notices
Nov.02, 2021 in
ACN, Ariix, CashFX Group, companies, DFRF Enterprises, Dubli Network, Eaconomy, EmpiresX, Empower Network, ForeverGreen, FutureNet, GVO, Herbalife, iMarketsLive, Investview, Jeunesse, Karatbars International, LaCore Enterprises, Le-Vel, Lyoness, Nu Skin, Nui, OneCoin, OnPassive, Paparazzi, regulation, Seacret Direct, Sisel, Traffic Monsoon, USFIA, Valentus, Visalus, Wakaya Perfection, World Ventures, Young Living, Youngevity
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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 loses blogger defamation lawsuit in Poland
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.
