Lyconet has been added to the Central Bank of Russia’s illegal company blacklist.
Lyoness @ BehindMLM
Lyoness’ eCredits spinoff has received a securities fraud warning from Liechtenstein’s Financial Market Authority.
Norway evidently doesn’t have a regulatory body capable recovering consumer losses from Lyoness. That has left Lyoness’ Norwegian victims facing the prospect of suing the company as civil plaintiffs. Enter the law firm Brækhus and their proposed victim class-action.
In a recent Lyoness webinar, company Hubert Friedl made the claim that Deloitte had valued Lyoness at over a billion dollars. BE Conflict Management reached out to Deloitte for confirmation, only to have them deny Hubert’s claim.
Silvio Spangl was a Lyoness promoter for nine years. He rose to President, Lyoness’ highest distributor rank. As part of his leadership, Spangl focused on growth of Lyoness across the Americas. He claims to have had over 250,000 distributors in his downline. Last year Spangl left Lyoness. As part of legal efforts to get Lyoness [Continue reading…]
Lyoness is based out of Austria. The company was founded by Hubert Freidl all the way back in 2003. BehindMLM first reviewed Lyoness in 2012. An updated review of Lyconet was published in 2014. In between reviews and since then, we’ve been following significant developments. And there’s been quite a few. To keep thing simple [Continue reading…]
Italy’s Competition Authority has once again found Lyoness to be an illegal pyramid scheme. The company has been issued with another €3 million EUR fine ($3.6 million USD).
Oslo police have decided it’s not worth pursuing an investigation into Lyoness. Audun Kristiansen, a prosecutor at the joint unit for intelligence and investigation, told E24 In light of the current situation and that the case will require considerable resources over a long period of time, we consider it necessary to allocate resources elsewhere. Last [Continue reading…]
Lyoness appear to be gearing up to use passive real-estate returns to encourage shopping unit investment. The news broke on March 28th, via a webinar featuring CEO Hubert Friedl.
Poland’s top consumer protection agency has ruled Lyoness is a pyramid scheme.