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