Lyoness’ eCredits spinoff has received a securities fraud warning from Liechtenstein’s Financial Market Authority.
In their brief warning, the FMA
points out that ECR AG in Liquidation, Vaduz, has not been licensed by the FMA and therefore is not allowed to provide any financial services that are subject to authorisation under Liechtenstein law.
In particular, it is not permitted to provide e-money services or payment services.
The FMA urgently advises not to make investments via the website ecredits[dot]com, in particular not to respond to offers or transfer funds.
This is the equivalent of a securities fraud warning in other jurisidictions.
Lyoness
introduced eCredits
back in mid 2018. Since then they’ve been soliciting investment in Ponzi points (priority points), promising to eventually launch eCredits as a cryptocurrency.
Naturally there’s no mention of Lyoness, Cashback World or owner Hubert Freidl on eCredit’s stand-alone website.
Like most of Lyoness’ schemes, eCredits is run through a shell company. ECR AG i.L. is incorporated in Lichtenstein.
It is through this shell company that Lyoness claims eCredits is “based” out of Lichtenstein.
This makes Lichtenstein issuing a securities fraud warning against eCredits, and by proxy Lyoness, all the more significant.
As to the current status of eCredits, as above the last official communication from the company is dated April 14th, 2021.
On April 23rd BE Conflict Management published a YouTube video with the description:
The company behind “eCredits” has been deleted and liquidated. But it is still being advertised by Lyconet marketers.
After three years of stalling, it appears Lyoness’ eCredits Ponzi scheme is DOA.
As far as I’m aware there’s been no official Lyoness, Lyconet or Cashback World announcement confirming eCredit’s collapse.
Total Lyoness investor losses into eCredits’ “priority points” are unknown.
Update 19th March 2022 –
BE Conflict Management appears to have lost their YouTube channel.
This article featured a link to the referenced April 23rd video. As a result of the the channel being deleted however, I’ve disabled the link.
🤖 Quick Answer
What securities fraud warning did Liechtenstein's Financial Market Authority issue regarding Lyoness' eCredits?
Liechtenstein's FMA warned that ECR AG in Liquidation, Vaduz, operates without proper licensing and is prohibited from providing financial services, including e-money and payment services. The authority urgently advised against making investments through ecredits.com or responding to investment solicitations.
What is eCredits and when did Lyoness introduce it?
eCredits is a digital currency product launched by Lyoness in mid-2018. The company has been actively soliciting investments in priority points through the eCredits platform, making various financial promises to investors regarding returns and benefits.
🔗 Related Articles
- Lifestyle Marketing Group Review 2.0: Matrix points pyramid
- Crown Global securities fraud warning from ON, CA
- AladdinBOT Review: AI trading bot ruse Ponzi scheme
- Eagle Bit Trade securities fraud cease and desist issued in Italy
- Beurax Review: Daily returns crypto trading Ponzi