Lyconet level 8 Terje Duesund tells TV station: “…….that the Lyoness company behaved illegally. He believes he did not defraud or deceive the participants himself”.
(Detailed contribution from BE-TV will follow shortly!)
TV report on the Lyoness/Lyconet/myWorld Ponzi scheme!
The callousness of Lyconet President Terje Duesund toward the problems of the myWorld group in Norway is indeed a typical Lyoness/Lyconet/myWorld crisis wording. At first cashing in, presenting themselves as big creators in public by flaunting, but as soon as they are caught, everything is sugarcoated, downplayed and blamed on others. “Shame on you, Terje Duesund.”
The Lyoness/Lyconet/myWorld shopping network is also being sued in Norway by former members who have lost large sums. In total, the Norwegians invested half a billion kroner (about 49 million EURO or about $57 million) alone, probably even more. The money ended up in the distribution network at Lyoness, organized by Lyoness Europe AG, based in Switzerland. As in all the other countries, people in Norway believed in financial success. In just a few years a multiplication of money, as a return on an investment, has been promise, so the accusation of the aggrieved parties.
Lyoness Norway was founded in Norway in 2012, and in the following years the business grew rapidly at first, as it did in the other 50 or so countries, which is the initial nature of any pyramid and snowball scheme. Siblings, parents, colleagues, friends and acquaintances recruited each other. The concept is the same as in all pyramid and Ponzi schemes: promising high profits.
Only a few have become rich. Most have lost all or most of what they have invested.
Inherited money and savings have been depleted. Even expensive loans that had been invested in Lyoness/Lyconet/myWorld continued to have to be paid off. And when things went downhill financially for members because they trusted those who recommended the investments, many friendships broke off and families fell out.
A Norwegian court will now investigate whether there is fraud regardless of civil claims!
On May 31, 2018, the Norwegian Lottery Authority decided that Lyoness must stop all activities in Norway, as the business is an illegal pyramid-like trading system.
The global network company Lyoness/Lyconet/myWorld is now being sued. Currently, dozens of people are officially involved in the lawsuit, according to a Norwegian law firm.
A lawyer at the firm explains, “However, it is expected that far more people will follow after the case could now be presented by the Oslo District Court’s ruling on May 21. The main reason for filing a lawsuit, he said, was the Lottery Authority’s conclusion that the business was illegal within the period in question. Lyoness wanted the case to be handled in Switzerland, which is also pointed out in the members’ contract. We felt that the contracts cannot be used as a basis for a compensation case, as the case is based on the fact that the business was built on illegal contracts,” as she explained to the TV station.
The law firm is satisfied that a lawsuit will now also be filed in a Norwegian court, as the plaintiffs are Norwegians, and the business is geared and adapted to the Norwegian market.
The company’s development and operations in Norway and Northern Europe are centered on TERJE DUESUND, a Norwegian.
Terje Duesund has so far revealed little to the press about his role in the purchasing network. And just as very little about the millions he has earned.
For many who have invested money in Lyoness, the Norwegian is a household name. For a time, Duesund was the head of the company’s marketing network throughout Northern Europe. Likewise, he ran Lyoness Norway for a period of time.
Duesund is an experienced network builder with a past. Already in the 90s he had played a central role in the MLM company “Natures Own”. A few years later, however, “Nature Own” and Mr. Duesund were history again.
It was not until 2007 that Terje Duesund reappeared with the company “Procando”. He held significant shares in this company, which managed funds, including the “Fond24”, described as a savings fund. According to the Norwegian newspaper “Bergens Tidende”, the money was spent on soccer bets in Europe. For consumer protection, the company “Procando” was a “gambling fund and speculative gambling.” The investors who had invested in “Procando” lost money.
The operation of “Procando” was discontinued in Norway and then continued in Malta. Terje Duesund moved on and started his career in the “global corporation Lyoness”. Here he quickly became successful, Lyoness offered him the perfect platform for his kind of work.
In the initial phase of Lyoness, the distribution of Lyoness in Norway and Northern Europe was coordinated by Terje Duesund. He has officially left the company in the meantime but continues to be a key figure in the distribution of the network concept.
His accumulated and flaunted ostentation is used as a model for what can be achieved as a member of Lyoness/Lyconet/myWorld. At the “Lyconet Elite Seminar” in May 2017, for example, Duesund received a Ferrari from self-proclaimed visionary and Lyoness founder Hubert Freidl. With a spectacular session of sound, lights and deafening cheers from thousands of members in Prague, everyone watched as a Ferrari was lowered from the roof of the huge hall before being handed over to Duesund.
A reward that the Terje Duesund received for reaching the top as a marketer in the Lyoness network. According to the magazine “Bergensavisen”, which followed the doings of Lyoness intensively for some time, Terje Duesund is one of the few Norwegians to belong to the so-called “President’s Team” in 2017 and is thus one of the leaders of the pyramid, ponzi scheme of Lyoness/Lyconet/myWorld. And now he wants to no longer know of anything?
The editorship of TV 2 stepped up to date with Terje Duesund in contact, who explains immediately that he would not like to be interviewed before the camera. What is surprising, because he usually presents himself gladly with splendor and pomp in public.
TV 2 sent several questions by mail to Mr. Duesund, in which he was asked to answer some questions, among other things, whether he does not think that Lyoness was operating illegally in Norway.
Duesund, who was essential to the construction of the network in Norway and Northern Europe and points out “that the Lyoness company behaved illegally. He believes he did not defraud or deceive the participants himself.” So he confirms that Lyoness has behaved illegally?
“I have always believed that the Lyoness company has operated in accordance with Norwegian laws, starting from the opening in 2013 until the cessation of operations after the decision. Personally, I started as a Lyoness marketer in 2013 and built an international trade network by working in 33 countries worldwide for many years…….my main task was to expand my team internationally, and I did a little in the Norwegian market,” he wrote in an email to TV editorial.
But where is all the money now, please?
In Norway alone, half a billion norwegian kronen (approx. $ 57 million), probably much more, was invested in the purchasing network.
When asked where all the money had gone, Duesund, suddenly miming the little marketer, said, “Questions about details of cash flow and money dispositions must be directed to the company by TV 2, as a marketer I have no access to this information.”
By the time he is being pointed out with a new email that he played such a central role in the company that it seems strange that he can’t explain cash flow, he responds:
“I urge you to respect my repeated answer – I have NO in-depth knowledge of the company’s international cash flow, how the money is distributed and used.”
Senior Adviser lawyer the Lotteries and Competition Authority Monica Aisoy Kjelsnes stated, “Many Norwegians have also lost a lot of money through Lyoness/Lyconet/myWorld. Some have taken out mortgages on the house and are in danger of losing their property because they have not received the expected income. What also makes the case particularly tragic is that many people have recruited close family, friends and work colleagues in the belief that this was legal and appropriate.”
She tells of tragic stories of people losing their money on Lyoness and of broken family relationships and friendships.
“Both resourceful and vulnerable people, young, sick, disabled and elderly, were tricked into participating in Lyoness, believing it was legal and that they would get ten times more out of their money back in a few years if they invested in the business. As far as we know, very few have gotten anything back, and the Norwegian Lottery Authority sees reason to warn against Lyoness, myWorld, Lyconet and Cashback,” she continued.
Some young people have given up their education to work for Lyoness, and several family relationships and friendships have been damaged by the business, she continues in the TV report.
In general, most of the victims feel shame and think that they are to blame for the misery. That is why many choose not to go public. This is likely to change now.
More about the injured parties and the Norwegian lawsuit in Part 2.
And as always, the Lyoness/Lyconet/myWorld press office is welcome to comment, or if anyone has more or different information on this, please feel free to let us know. We are not interested in making false statements and our primary goal remains to provide the full documentation.