After years investigating, the Austrian Prosecutor´s Office Against Economic Crime and Corruption (WKStA) has filed a criminal complaint against Lyoness’ founder Hubert Freidl at the Criminal Court Graz. Mr Freidl is being charged with not having published a prospectus in time for an investment subject to the obligation to publish one. Additionally, they requested the imposition of an association’s fine against Lyoness Europe. The WKStA informed that Mr Freidl, acting as Director of Lyoness Europe AG, allegedly offered investments requiring to publish a prospectus (advertising campaigns and options “Premium Ranking Europe”) without publishing the required and checked prospectus and therefore could have violated the penal provisions on section 15, paragraph 1 of the Capital Market Act. A proceeding on the suspicion of a pyramid scheme and serious commercial fraud against Mr Freidl in connection with Lyoness was stopped in April 2016 (under circumstances that haven´t yet been fully clarified). Considering the latest court decisions against Lyoness under civil law, the alleged “doubtful attitude” of the Senior Public Prosecutor seems to have been rebutted and pushed “ad absurdum”. Soon, things could get interesting at the Prosecutor´s Office Cologne. In light of recent events though, I will restrain from making any comments on the matter.
An additional judgement (case file 21 C 311/15m) of the Vienna District Court for Commercial Matters from 09/08/2016 confirms two previous judgements and consolidates previous rulings that define Lyoness as a pyramid scheme. We expect Lyoness to try to play for time and drag on the process with appeals. Read more
Also in Switzerland a judgement of the Canton of Zug was delivered with brilliant reasons on 09/20/2016. Read more
If Lyoness is “reorienting” itself and focusing on Cashback, what have they been doing during the past 13 years? Why hasn´t Lyoness publicly responded to these questions?
Oh dear……Lyoness is suing for business and reputational damage. We´re not particularly concerned about this claim, the articles published are well researched and all facts described accordingly. Read more
We don´t want to accept the closing of the criminal investigations by the Austrian Prosecutor´s Office Against Economic Crime and Corruption (WKStA) into suspicions of systematic fraud and pyramid scheme on April 2016 and have therefore involved the Senior Public Prosecutor’s Office (OSTA) and presented a comprehensive disciplinary complaint.
We worked a lot in July this year – we were on the road and did some research on the spot. We travelled to South Africa, the U.S. and India and met with representatives of local authorities and with Lyoness-SMs. Read more
We’ve uncovered the next set of lies, and will soon publish reactions from Lyoness’ “trading partners” to the current articles. When confronted with concrete inquiries, Lyoness is only too glad to represent itself toward the public as a victim of “third-party providers”. This is false, and we can prove it.
We have internal e-mails from Lyoness themselves, which reveal that a few weeks ago Lyoness advertised with MasterCard and in no sense were merely clients of a third-party provider.
We’ll keep you up to date – stay tuned …!
But people have sold country packages for the USA and India, and spoken of “incomparable expansion”. Lyoness customers are eagerly awaiting an explanation as to why Lyoness has almost disappeared in the USA and why India can no longer be found anywhere on their list of countries. Read more
Some time ago we were notified by our customers that, surprisingly, Lyoness is still using the MasterCard name in their advertisements. To cite a concrete example, a member of Lyoness’ network marketing was offered the chance in an e-mail to buy the new “MasterCard Polo Golf Shirt”.