From Lyconet President to broker – Mario Oreggia and the mysterious sale of Blocktrade

Mario Oreggia was a long-standing top leader (‘President’) in the Lyconet network, with direct access to the management level around Hubert Freidl.

He was considered one of the key leaders of the Italian structure and was involved in building the ‘shopping community’ network in various countries.

He did not appear publicly as a manager, but as a network internal promoter, someone who trains marketing partners internally and communicates strategies.

He was a key figure in the transition phase from myWorld/Lyconet structures to Blocktrade.

In the ‘First Supplement dated 11 November 2024 to the Growth Prospectus’, he is named as one of the persons involved, intermediaries or persons with potential conflicts of interest.

This document describes the early ownership structure and mentions Oreggia in connection with the transition of old investors or those persons who played a role in the change from myWorld/Lyconet to the new shareholders.

Monthly change of ownership

In June 2024, the previous shareholders, Michael Müller, Mario Oreggia and Web3 Investco AG, sold their voting A shares to an Estonian buyer group (Indrek Raig, Reet Romet, USW OÜ and HB Holdings OÜ).

However, the deal did not last long: In July 2024, the buyers withdrew and the shares were returned to the sellers.

A few weeks later, Singapore-based FSR Group Pte Ltd, wholly owned by Su-Leng Tan Lee, finally took over.

For customers who value consistency, this ownership ping-pong seems more like a frantic rush forward.

Sales proceeds and lack of transparency

In a share deal, the purchase price does not flow into the books of the purchased company, but to the sellers. If the company involved in the sale no longer publishes audited financial statements or even goes into liquidation, payment flows remain untraceable for third parties.

Such constructions involving intermediate companies, loan repayments, consulting fees and licence agreements can obscure the actual sales proceeds.

The result is an information vacuum in which investors and creditors cannot see clear cash flows and authorities can only force access through liquidators or courts.