As we reported earlier, Lyoness is facing scrutiny in Germany, both in newspapers and on television. What we pointed out in our first article on this topic, was that the authorities and organisations concerned with such matters in Germany, seemed to have completely missed all relevant developments revolving around the Lyoness racket in Austria and Switzerland (where their local counterparts speak the same language). That seems to have changed now.
The German newspaper Nordkurier reports that the national Consumer Union of Germany (Verbraucherzentrale des Landes) has examined the General Terms and Conditions of Lyoness (of which its Austrian counterpart challenges 61 clauses, and which it has started a class action lawsuit against) and has come to the conclusion that the Lyoness 'business model' is everything but transparent and that consumers should be extremely cautious in doing 'business' with this 'company'. Additionally, Joachim Geburtig of the Consumer Union says that particularly the Lyoness Premium membership (and the contracts signed to become a Premium member) is inexplicable.
We sincerely hope that everyone will take this warning seriously.
The braintrust at Lyoness America has introduced a new program where IBR's (abbreviation for any idiot who mistakenly enrolled in Accounting unit pyramid scam) to channel their loyalty bonus into the International Accounting Program. These virtual investment entities are not traceable even for Lyoness affiliates. In other words, even if you have invested in any of these money holes at Lyoness, you can never view the status of your investment, you never receive any investment statements. It's as if your money has falled into a huge money pit. I cannnot believed this is allowed to go on..these programs alone should be enough to shut them down. Also, how would the IRS ever be able to trace any monies made from these programs. I am sure this movement of money is intended to complicate any litigation process.
ReplyDeleteFinally, it appears as if this option to invest in the International program is intended to reinvigorate Lyoness in countries where the well is beginning to dry up? Thoughts???
"Finally, it appears as if this option to invest in the International program is intended to reinvigorate Lyoness in countries where the well is beginning to dry up? Thoughts???"
DeleteYou may be very right here. From the start of our Blog, we have been writing that the Lyoness pyramid is crumbling and for a while, it did seem like Lyoness had given up hope on saving this racket, and put all their eggs in a new basket (perhaps FlexKom).
However, strengthened by the lax attitude of media, politicians and government officials, as well as some incredible court decisions against Lyoness opponents, Lyoness seems to have renewed their faith in their scam being able to collect a couple of billions more around the globe (do not forget that big markets like China and India are still to be taken in).
From that perspective, as well as from a comparison with other, similar rackets, it is pretty logical to suspect that Lyoness tries to get its members to keep their money in Lyoness to keep the system running a little longer and gain a couple more billions.
Indeed, the expansion which Lyoness used to cover its losses elsewhere nears its limit (with only few big markets left) and this may be a last resort before the whole thing comes down.
This is very interesting news, Anonymous.
ReplyDeleteDo you have any link that could provide us with evidence of the new international strategy?
Regards, Remloff
Hi, I have a .pdf document that someone gave me but I don't know how to attach it to this thread
ReplyDeleteThere should be services available online on which you can upload your file. Bayfiles.net usually works well. You can then post the link here.
Deleteit is in Estonia now... my friends are acting like door to door salesmans... :( sad, sad.
ReplyDeletewhy so quiet???? no news?
ReplyDelete