As expected, Lyoness lodged an appeal against Salzburg District Court´s decision (31 C 651/16z – 11). The court of Appeal at the Regional Court Salzburg has now dismissed the appeal (22 R 351/16w) and confirmed that Lyoness is indeed a pyramid scheme. A further appeal at the Austrian Supreme Court (OGH) is not allowed.
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 […]
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.
Also in Switzerland a judgement of the Canton of Zug was delivered with brilliant reasons on 09/20/2016.
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.
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.
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 […]
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.
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