The Portuguese Consumer Protection Association, otherwise known as DECO, is is an independent non-profit association with charity status. It is the largest consumer association in Portugal and possesses a ‘Public Utility’ status. Following a series of complaints by Lyoness investors, DECO recently issued a warning against participation in the scheme.
Articles under ‘Lyoness’:
Alleging Lyoness’ Terms & Conditions were “incomprehensible”, the Association for Consumer Information (VKI) in Austria took legal action against the company back in 2013. In their lawsuit VKI referenced “61 vague and inexplicable clauses”. The consumer advocacy group claimed they’d ‘never seen so many incomprehensible clauses in one contract‘. The contracts signed by the members contain many [Continue reading…]
Back in March of 2014, the Swedish Gaming Board concluded an investigation into Lyoness. Suspecting Lyoness was running a pyramid scheme, the Gaming Board forwarded their findings to police for further investigation. That investigation has been quietly carried out for almost two years, with prosecutors deciding to drop the investigation last November. Not because Lyoness was running [Continue reading…]
The thorn in the side of Lyoness’ claims to be a shopping portal has always been affiliate’s depositing funds directly with the company. Lyoness store these funds, with cash ROIs paid out (by Lyoness) once enough new deposits have been made. Back in the day you had affiliates investing in Accounting Units, today through Lyconet [Continue reading…]
It’s a story that’s probably familiar to many of Lyoness’ current and former Premium members. You were told to invest thousands “in shopping”, got a bunch of worthless Accounting Units and when recruitment of new affiliates died down, you were left holding the bag. Not all Lyoness affiliates chalk up their losses and go quietly [Continue reading…]
Back in October we covered Delfi’s reporting of a news story concerning the activities of Lyoness affiliates in Tallinn, Estonia. For those unfamiliar with Delfi, they are a major internet portal in Estonia, Latvia, and Lithuania providing daily news, ranging from gardening to politics. It ranks as the most popular website among Lithuanian and Estonian [Continue reading…]
Despite only money changing hands, there are those that argue that the selling of access to discounts, or even discounts themselves, constitute the retail sale of products or services. Such is the case with Lyoness, wherein affiliates can invest funds in shopping units and get paid when newly recruited affiliates do the same. Vouchers are [Continue reading…]
A combination of a media blackout order and language-barriers have made it difficult to report on the Austrian criminal case against Lyoness and CEO Hubert Freidl. BehindMLM first reported on the Austrian case back in 2013, which is when I first became aware of an investigation by Austria’s “White Collar Crimes and Corruption” Public Prosecutor’s Office (WKSTA). [Continue reading…]
Since the news broke late last week that the ACCC’s pyramid scheme case against Lyoness had been dismissed, we’ve tried to piece together what we can from subsequent statements by Justice Flick and the ACCC. Lyoness for the most part have been busy flooding the internet with hundreds of spammy press-releases celebrating the victory. Personally [Continue reading…]
Following a judgement hearing held a few hours ago, we can now report that the ACCC’s pyramid scheme case against Lyoness has been dismissed.