Swiss court rules Lyoness a Ponzi scheme, affiliate contracts invalid
Lyoness has lost a lawsuit filed in a Swiss Cantonal court.
The lawsuit sought to ascertain whether or not Lyoness Premium affiliate memberships were legally binding. Who filed the lawsuit is unclear (although my guess is a Lyoness affiliate who lost money).
At the center of the lawsuit, filed against Lyoness Suisse GmbH, was the 3000 franc premium Lyoness affiliate membership.
In a nutshell, Lyoness affiliates invest 3000 francs, receive a bunch of positions and earn a ROI when enough new positions have been created by subsequent investment.
The Judge hearing the case ruled that this was a Ponzi scheme, ‘which is unfair and unlawful‘.
There are not only parts of the (affiliate) contract that are illegal, but the overall terms (of the membership) are illegal (too), since they utilize an unfair financial system.
As a result of the ruling, all Lyoness affiliate membership contracts in Switzerland have been rendered invalid.
This means that affiliates who lost money in Lyoness through investment are now eligible for a refunds.
Unfortunately for victims of the scheme the Swiss ruling is not yet legally binding.
Lyoness has filed an appeal with the High Court which has yet to be resolved.
Stay tuned…
Hopefully the high court will agree and this will be the chink in Lyoness’ armor that will bring it down.
They have been able to buy off so many and went after people knowing they didn’t have the money to defend themselves, and used intimidation to prevent these type of lawsuits from ever getting to court.
Word on the street is that there are several US major players in Lyoness filing their own lawsuits against Lyoness. Will be interesting to see how they play out, and they do not bow to pressure or be bought off.
WKSTA strikes back: diepresse.com/home/wirtschaft/unternehmen/5137950/index.do
Looks like they’re not keen on letting it go, good on them!
Hello, is it possible to get full verdict off the court decision to prove it’s real source?
It probably is but you’d have to contact the Swiss Court that made the ruling.
I’ve started to search information after yesterdays meeting, I was quite sceptical about this. Also find this article about other things. bekm.us/?s=lyoness.
In yesterday’s meeting they offered clouds and new markets like Italy etc bla bla bla and approximatel you need to invest around 6000 Eur. at you will be fool if you will not to that.
I just collect information to trying save some friend. After I shown your article he stayed minded about all this. What’s your opinion when the process could start also in Austrian court?
WKSTA I think it is have been trying to shut down Lyoness in Austria for years. Unfortunately regulation in Austria appears to be lacking.
Italy is currently 25% of traffic to the Lyoness website so I’m not surprised you’re concerned. Lyoness moves from country to country leaving a wake of disgruntled investors in its wake.
Is there a law suit in the USA that is going on that I could get info on? I have lost hundreds in this joke of a company and a friend lost THOUSANDS!!!!
What is so bad about lynoess?
People who get card dont pay nothing. and they get discount.
The AU scheme on the backend functions as a Ponzi scheme. That’s the part that makes Lyoness a scam.
I was introduced to the Lyoness Pemium membership 3 years ago (now known as ‘Lyconet Marketer’) and was conned by my sponsor to invest over $100,000 into booked units in many so called ‘Balance Programs’ all of which are now proven to be ‘PONZI ‘ with promises of substantial ROI in 3 years.
Guess what, not one ‘booked unit’ has matured since my original investment in any program.
Lyoness continue to create these so called CLOUDS (Ponzi’s) and guess who gets a position at the top of the tree?
You guessed right. Freidl and the Presidents men to fund their lavish lifestyles at the expense of many dumb SUCKER investors like me.
Is Lyoness a SCAM or a PONZI set up to benefit a few. You make your own conclusions.
I suspect there are many nervous Lyconet leaders across the world today rethinking there position and the possibility of facing individual litigations. I suspect Freidl won’t be supporting these poor soles in their individual Court Cases.