Back in July it was revealed the Norwegian Gaming Board had reopened its pyramid scheme investigation into Lyoness. The investigation was reopened following a continued stream of complaints from the public, which prompted the Gaming Board to contact Lyoness in April. The Gaming Board sought to have Lyoness address concerns it was running a pyramid scheme [Continue reading…]
Articles under ‘Lyoness’:
Citing the ongoing receival of ‘many tips and questions from the public asking if Lyoness is a pyramid scheme‘, the Norwegian Gaming Board has provided an update on their current investigation.
Word on the grapevine is critical discussion of Lyoness in several European countries has recently disappeared. It began with the removal of a discussion thread on Radar, one of the largest consumer information forums in the Netherlands.
Back in 2014 the Norwegian Gaming Board wrapped up an investigation into Lyoness. The conclusion of the investigation saw the Gaming Board confirm Lyoness ‘does not engage in illegal activities in Norway‘. Analysis of the Gaming Board’s official report revealed the regulator primarily relied on marketing material provided by Lyoness in their investigation. Three years later, [Continue reading…]
It’s the same old story, a Lyoness affiliate invests in Accounting Units, nobody signs up under them and so they lose thousands of dollars. Between 2014 and 2015 a Lyoness affiliate in Switzerland invested 4500 CHF ($4510 USD). When it became clear he wasn’t going to earn any money, the affiliate asked for a refund. [Continue reading…]
Austria’s White Collar Crimes and Corruption” Public Prosecutor’s Office (WKSTA) has a long history with Lyoness. WKSTA has been trying to hold Lyoness and founder Hubert Freidl criminally accountable for years. Unfortunately for the regulator, legal decisions have thus far gone against them. Rather than resign themselves to a new era of legalized Ponzi fraud in [Continue reading…]
Lyoness has lost a lawsuit filed in a Swiss Cantonal court. The lawsuit sought to ascertain whether or not Lyoness Premium affiliate memberships were legally binding. Who filed the lawsuit is unclear (although my guess is a Lyoness affiliate who lost money).
Hasn’t BehindMLM covered this story already? Back in June of 2014 Lyoness announced a ‘new prepaid Lyoness Mastercard for European members‘. In an attempt to justify Lyoness’ Ponzi-like AU investment scheme business model, the Mastercard announcement saw “legitimacy by association” marketing begin shortly after. By January 2015 Mastercard had had enough, and affirmed they had “no [Continue reading…]
In 2013 a legal complaint was filed against Lyoness in the Polish Court of Competition and Consumer Protection (abbreviated as CCCP in English or SOKiK in Polish). The complaint raised the question of whether Lyoness’ affiliate Terms and Conditions were illegal under Polish Consumer Protection law. The case has been playing out for almost three [Continue reading…]
The legal status of Lyoness in Austria is… complicated. Earlier this year Lyoness was found guilty of deceptive trade practices. Lyoness filed an appeal against the decision, which was denied last month. A concurrent push to hold Lyoness and founder Hubert Freidl accountable on a criminal level has also been playing out. Late last year [Continue reading…]