Norway: “Lyoness does not engage in illegal activities”
Never a dull moment in this industry!
Last December the Norwegian Gaming Board launched an investigation into Lyoness. The aim of the investigation was ‘to assess whether (Lyoness) is an illegal pyramid‘.
Now, six months later the Gaming Board has concluded their investigation. Despite Lyoness’ Account Unit investment scheme however, the Board has cleared the company of all suspicion:
(The) Gaming Board has considered the business of our company Lyoness in Norway.The conclusion is now clear.
The Company does not engage in illegal activities in Norway.
At this stage the Gaming Board has only released a statement pertaining to their preliminary audit report. More details are expected at a later date.
The (Gaming Board’s) preliminary audit report concludes Lyoness (is) not engaged in an illegal pyramid sales system in Norway in violation of the Lottery Act § 16 second paragraph.
This conclusion is based on the information that the Gaming Board has about Lyonness operations in Norway today.
We’ll be back with more detailed information on the matter later.
Should be interesting to read what they based their findings on. Historically the Norwegian Gaming Board have a pretty good track record for sussing out scams, so missing the whole AU Ponzi investment scheme seems a little out of character.
Footnote: Thanks to the BehindMLM reader who sent in the news tip.
Update 21st September 2014 – The Gaming Board has now published a report on their Lyoness decision.