Austria has its own WIRECARD scandal! Lyoness bankruptcy concerns Austrian politics!
Alone in Austria, there’s a damage of 50 million euros, while globally several billion have been collected through Ponzi schemes. Hubert Freidl did an excellent job with his pyramid schemes, but did the justice system allow it? And if so, for what reason?
The damage for Austrian customers alone, according to legal calculations, is currently at 50 million euros. As a matter of fact, many questions are still unanswered, which the Austrian prosecutors and commercial courts will have to address in the future. The Lyoness bankruptcy concerns not only the Swiss but also Austrian, German, Norwegian, Polish, Spanish, and Turkish law enforcement agencies.
The current explanations and attempts to motivate marketers fortunately remain largely unsuccessful. Top leader Markus Käfer, for instance, evades critical questions about bankruptcy and what the future holds while residing safely in South America. ‘One should trust and believe in the system,’ he advises his marketers. However, the questions and criticisms from the marketers are not unfounded. Here’s an example.
Translation of the left chat:
Marketer
“I have a question: Since it’s obviously not working out with the promised payout of Clouds EC1, 2, and 3, how can I ever trust to receive anything from the myWorld Cloud? There’s always a need to deposit money for payout authorizations, but so far, there has been no money returned from the Clouds. How can I trust Lyconet when it hasn’t worked out as promised up to now, and new conditions and ideas are constantly being introduced? I can’t make sense of it anymore; I see all my money disappearing for the Clouds. It all seems somewhat dubious. The conversion into Asia stocks was also incomprehensible because I don’t know if I will ever profit from the stocks… Endless promises, no answers to questions, not even to letters sent by registered mail to Lyconet. Perhaps there could be some definitive answers at some point. That would be nice.
Markus K. (Career 8.1)
Yes, I understand you – and things have gone wrong; it’s true.
And it is – just like in any business –
always a matter of trust, personal risk management, and future vision.
… Just like with cryptos, stocks,…”
Bernhard Wurm is an Austrian politician, a member of the National Council, and serves as district manager in Lower Austria. In his capacity as a member of the National Council, he has submitted a parliamentary inquiry to the Federal Ministry of Social Affairs and Consumer Protection and the responsible Federal Minister regarding the insolvency of Lyoness International AG and Lyoness Europe AG.
The inquiry addresses the bankruptcy of both companies and its impacts on the branches operating in Austria. It inquires about the Ministry’s response to the insolvency, potential effects on customer contacts and business relationships, as well as ongoing proceedings in Austria. It is highlighted that the VKI (Association for Consumer Information) has, in recent years, pursued several legal proceedings to protect Austrian consumers against Lyoness.
We will continue to follow and report on whether Hubert Freidl is again receiving protection from the justice system through the Chief Prosecutor Michael Schön and what legal sleights of hand the Vienna-based ‘No-Ethics’ law firm Brandl & Talos will conjure up.
16812/J
dated November 10, 2023 (XXVII. GP)
INQUIRY
by Representative Peter Wurm to the Federal Minister for Social Affairs, Health, Care, and Consumer Protection regarding Lyoness International AG and Lyoness Europe AG: Bankruptcy opened for both companies – National companies remain active
The following press release was published on October 24, 2024:
Lyoness International AG and Lyoness Europe AG: Bankruptcy opened for both companies – National companies remain active.
Bankruptcy has been declared for Lyoness International AG and Lyoness Europe AG, both headquartered in Buchs, Switzerland. The bankruptcy proceedings concern exclusively these two companies. The Lyoness national companies, independently operating shopping communities for consumers and participating partner companies in their respective countries, remain active. Therefore, existing Lyoness members of the individual national companies continue to receive their customary shopping benefits when purchasing from Lyoness partner companies.
Christopher Thomson, the President of the Board of Directors of Lyoness International AG and Lyoness Europe AG, states: “The pandemic, energy crisis, and inflation have deeply affected our company in recent years. Unfortunately, the management no longer sees itself able to continue Lyoness International AG and Lyoness Europe AG in this form.”
About the Lyoness Group of Companies Lyoness operates an international shopping community and a loyalty program. Its target groups are consumers who save money while shopping with Lyoness (Cashback), and merchants seeking a cross-sector and cross-country customer loyalty program. The Lyoness group of companies is currently present in 19 markets. Learn more at lyoness-corporate.com.
The Association for Consumer Information (VKI) has, in recent years, successfully pursued several legal actions to protect Austrian consumers against Lyoness:
- Agreement between VKI and Lyoness – Consumers receive money back.
- Lyoness: Supreme Court decision (“clause decision”) no longer concerns clauses not used in the terms and conditions.
- VKI wins against Lyoness
- Lyoness terms and conditions for premium members found illegal by VKI.
- VKI: Collective action against Lyoness – Solution leads to the Netherlands.
- Negative record: 61 (!) clauses at Lyoness found illegal.
- VKI wins test case against Lyoness shopping community.
In this context, the undersigned representative directs the following inquiry to the Federal Minister for Social Affairs, Health, Care, and Consumer Protection:
Inquiry
- How does the Federal Ministry for Social Affairs, Health, Care, and Consumer Protection (BMSGPK) or the Association for Consumer Information (VKI) react to the insolvency of Lyoness International AG and Lyoness Europe AG?
- From the perspective of BMSGPK or VKI, does this insolvency affect customer contacts and business relationships of consumers with LYCONET MARKETING AGENCY LIMITED, Lyconet Austria GmbH, Purmont Luxury Estate GmbH, Lyonet mSP GmbH, or Lyonet International MI GmbH?
- Are there currently legal proceedings conducted by VKI on behalf of BMSGPK against Lyoness International AG, Lyoness Europe AG, LYCONET MARKETING AGENCY LIMITED, Lyconet Austria GmbH, Purmont Luxury Estate GmbH, Lyonet mSP GmbH, or Lyconet International LMI GmbH in Austrian courts?
- As the responsible Consumer Protection Minister, or BMSGPK and/or VKI, are they aware of legal proceedings in other EU countries or third countries against Lyoness International AG, Lyoness Europe AG, LYCONET MARKETING AGENCY LIMITED, Lyconet Austria GmbH, Purmont Luxury Estate GmbH, Lyonet mSP GmbH, or Lyonet International LMI GmbH, and if so, in what context?
- Are there currently any outstanding claims from the proceedings conducted in Austria against Lyoness or any related cooperating companies since 2014 that remain unfulfilled or collectible?
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