Lyoness found guilty of deceptive business practices (Austria)
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 into the night however, with one Austrian Lyoness affiliate attempting, so to speak, to return the bag to Lyoness.
The anonymous affiliate’s story reflects the usual enticement dangled infront of prospective Lyoness affiliates.
In October 2010 the plaintiff acquired three so-called Lyoness business packages for 2,000 Euros each.
The affiliate was told ‘from this 6,000 Euros he could in two or three years to make around 18,000 euros‘.
How?
By recruiting new Lyoness affiliates who also invested in Accounting Units.
The plaintiff has also said that if he brings more people to Lyoness, he gets more money, which is why the plaintiff his partner and two friends enlisted.
The affiliate took Lyoness’ marketing representations at face value, and was upset when the company gave him shopping vouchers in lieu of a cash ROI.
For those unfamiliar with the scheme circa 2010, Lyoness affiliates received shopping vouchers equal to a fraction of the funds they invested. Large cash ROIs were paid out only upon significant recruitment of new affiliates (and their subsequent investment into units).
The case in Austria has been slowly playing out over the years, with the Vienna Commercial Court handing down it’s ruling a few days ago.
“The plaintiff did not understand the Lyoness system”, says the 31-page judgment.
“He didn’t want to receive vouchers, and was not even informed that a part of his profit should be paid with vouchers.”
In the court’s opinion,
the system of Lyoness is in the opinion in connection with the distribution of products, as the capital injections, inter alia, from purchases, coupon orders or payments arising on vouchers with partner companies.
Hence loyalty bonuses and the like are calculated as promised benefits.
Payouts are higher when the company is supplied with additional capital, such as from the applicant and when more investors participate in the overall system.
Although marginal payments arise from an affiliate’s own purchases, the majority of payment in economic terms is made almost exclusively on the recruitment of new members.
The Commercial Court went on to find Lyoness guilty of deceptive business practices under Austria’s Law Against Unfair Competition.
This rendered business conducted between the affiliate and Lyoness invalid, with Lyoness ordered to pay the affiliate €6000 EUR plus 4% interest (3 years).
Lyoness are able to appeal the decision, via request of an “extraordinary revision”.
the vienna court found that lyoness in violation of section 2 of the Law Against Unfair Competition [UWG]. this section says:
this court ruling should help at least lyoness investors in austria, to get their investment back from lyoness?
You’d think so. Not sure if it’s a case-by-case basis though.
You and I know most Lyoness affiliates were sold on the “invest funds and make more than you invested in AU ROIs” spiel, but proving it in court en masse might be another matter.
This individual will probably be begging to get back in the Lyoness program in the next couple years with the new programs Lyoness has implemented in Austria. This will be the biggest company on the Planet.
Or you’d be still begging people to join in order to get your money out.
I found they introduced “payment portal” at Lyoness. Strange is that they promote it with slogan “Make Deposits using Lyoness Payment Portal!”
lyoness.com/us/shoppingnews/make-deposits-using-lyoness-payment-portal-20909
Lyoness everytime denies they offer any investments, deposits, they were always claiming its shoping, either downpayments before Lyconet and Discount Vouchers nowadays,and they do not provide any investment/deposit services.
Even legal expertise made by prof. Lewisch some time ago says Lyoness is not ponzi because theres no deposits available within Lyoness:
http://www.lyoness-corporate.com/getattachment/6a9ae5ab-83ac-47a8-a977-02d93e35654d/Legal-opinion-confirms-Lyoness-no-pyramid-scheme.aspx/
How do you think, what is this?
The loophole is the same as it’s always been. Members don’t need to do this or that.
It’s like running an ad-credit Ponzi scheme and saying affiliate’s don’t need to invest in adpacks when they sign up, therefore we’re not a Ponzi scheme.
That Lyoness take newly invested funds and use it to pay off existing investors makes it a Ponzi scheme, not whether or not this is required or optional.
PRELIMINARY PROCEEDINGS AGAINST LYONESS REGARDING FRAUD AND RUNNING A PYRAMID SCHEME TERMINATED
After many years of investigations by the Austrian Prosecutor’s Office for Combatting Economic Crime and Corruption (WKStA), the Vienna Regional Court has, in its decision dating from 12th April 2016, confirmed the decision made by the Regional Court for Criminal Matters in Vienna and has subsequently declined the accusations made by the WKStA.
The preliminary proceedings against both, Lyoness Europe AG and CEO Hubert Freidl, are therefore to be terminated.
The Vienna Regional Court’s decision clearly states that Lyoness does not run a pyramid scheme and that any investigations regarding the accusation of serious commercial fraud are to be terminated.
This decision is legally binding and can no longer be subject to appeal.
Lyoness will comment on this judgment and present the company itself in detail in the course of a press conference scheduled for next week in Vienna.
What is going on in Austria?
Two months ago the Commercial Court found
That spells out Ponzi scheme with a pyramid layer. And now the Regional court can’t make out the inherent AU investment scheme?
Man these guys are slippery.