Lyoness, Lyconet, and myWorld: Companies in Norway and South Africa Imploded: Court Rulings and National Bankruptcies Shake Freidl’s Companies Worldwide

Several companies under the Lyconet/myWorld umbrella are now operating on emergency power. There’s a major shake-up at Lyoness, Lyconet, and myWorld! In multiple countries, courts have issued severe rulings and consequences against the companies.

Particularly significant: in Norway and South Africa, massive financial irregularities have led to serious consequences. In South Africa, former Lyconet managers Albert Weiglhofer and Wayne Krambeck themselves applied for the liquidation of Lyconet South Africa (Pty) Ltd due to unpaid amounts running into millions. The result: a court-ordered closure of Lyconet South Africa.

In Norway, a final ruling was issued as early as 2023, which classified Lyoness and its affiliated companies as an illegal pyramid scheme. The courts not only awarded damages to the victims but also ordered the company to fully refund all invested funds.

Particularly audacious: Lyoness ignored the court’s orders and largely allowed the proceedings to unfold in their absence, ultimately leading to a default judgment.

The Lyoness/Lyconet/myWorld case is developing into an international disaster that will undoubtedly have far-reaching consequences for the company’s entire network.

Further lawsuits and liquidations are not ruled out, and indeed likely.

On the BEKM website, we will keep you updated on these current developments. Our upcoming articles will thoroughly cover these topics, providing insights into the background of the court proceedings as well as the legal maneuvers of Lyoness/Lyconet/myWorld.

You will learn how affected individuals are fighting back against the system globally. Stay tuned!