Lyoness @ BehindMLM

Lyoness reported to Norwegian police for criminal offenses

The Norwegian Gaming Board has reported Lyoness to local police. The regulator suspects Lyoness, who also operates at Lyconet and Cashback World, has committed “criminal offenses” across the country.

Lyoness Ponzi to target Malaysia, Saudi Arabia & Colombia

Following regulatory pressure and court decisions that have gone against it, Lyoness appears to be distancing itself from Europe. Desperate to keep new investment rolling after Italy outlawed the Ponzi scheme, Lyoness is gearing up for a push into Malaysia, Saudi Arabia and Colombia.

Lyoness President claims “pushing shopping is a mistake”

A top Lyoness distributor, who claims to have over 2 million members under him, has admitted “focusing on shopping is a mistake”.

Lyoness victims able to recover 2007 to 2012 losses

As part of a consumer protection ruling in Austria, Lyoness has been ordered to compensate victims with interest. The ruling covers Lyoness victim losses on investments made between 2007 to 2009 and in 2012.

Lyoness loses second Norway appeal, permanently banned nationwide

The Norwegian Gaming Board has rejected Lyoness’ second appeal, resulting in the Ponzi scheme being permanently banned in Norway.

Lyoness victims in Italy demand return of their losses (53 million euro)

Following a nation-wide ban and 3.2 million euro regulatory fine, Lyoness affiliate investors in Italy want their money back. To that end Lyoness’ Italian victims have lawyered up to demand the return of their losses.

Lyoness a pyramid scheme in Italy, fined 3.2 million euro

Following a boom in local investor recruitment, Lyoness caught the attention of Italian authorities. Italy’s Competition Authority (AGCM) announced a preliminary investigation into Lyoness in September 2018. The investigation concluded in late December, resulting in Lyoness being declared a pyramid scheme.

Lyoness suspends voucher Ponzi scheme in Italy

In response to authorities announcing a preliminary investigation, Lyoness has suspended investment from Italy.

Lyoness under preliminary investigation in Italy

In what very well could be an early death-knell for Lyoness, Italian authorities have announced a preliminary investigation into the company.

Lyoness reveals only 21% of Cashback World cards used in 2017

One of the common rebuttals we see to Lyoness’ Ponzi scheme is the cashback side of the business. Originally offered through Lyoness itself, the cashback scheme was rebranded as CashBack World last year. Following the Gaming Board’s decision to ban and then uphold Lyoness’ ban in Norway, the company has filed a second appeal. In [Continue reading…]