The demise of Fryee

Earlier, this blog reported on the expectation that Freidl will (or has already) found a new company to start over with for when Lyoness fully collapses. There are serious suspicions that for that reason, he may have founded 'Fryee', a company offering a similar system to that of Lyoness. Fryee, a system operated by a company called 'Trevilian', was also presented as a shopping community, yet at the same time, people could become a millionaire by recruiting others to sign up and invest.

The guys over at Plattform Lyoness have recently published some more information on Fryee, and its rapid demise. The activities of Fryee were noticed by the Austrian financial markets authorities (FMA) already in 2009. The FMA warned that the 'guaranteed' investments offered by Fryee had not been assessed by the FMA and therefore, Fryee was trading in investments without the appropriate licenses. Fryee offered its investors a monthly return of 1%. The Viennese public prosecutors have estimated that at least 2.5 million euros were stolen from the investors, although they duly note that this amount could be significantly higher. Yet, at that time (June 2011), only six to eight people had reported the scam to the police. According to the prosecutors, many victims could not believe they had been scammed and refused to accept that their money was gone.

Two companies have been closely tied with 'Trevilian' and its 'Fryee' system: Fostech Limited and DWB Holding Company. Although Fryee may have collapsed, Fostech (founded in 1990) was still active on 27 March 2013. DWB also seems to be still in business. It has been suggested that Freidl had ties with Fostech and DWB through Roland Bernsteiner, one of his known associates (whom he also collaborated with in Erin Trade SA - GTS). However, hard evidence of the involvement of Freidl is lacking. If Freidl were to be involved, he probably made a big deal out of hiding it from the public, considering his public position in Lyoness.

Bernsteiner has been recently involved with a company called 'Erin Marketing Corporation' (compare his earlier 'Erin Trade') in Woodland Hills, California and another company called S.I.R. Corporation in Santa Barbara. Also, Fostech, DWB and Sedimo are still in business. Beware.

Articles on Fryee: Die Presse; Kleine Zeitung; Der Standard

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