Lyoness @ BehindMLM

On the eve of the ACCC’s lawsuit against Lyoness being heard in court, ABC News Australia have interviewed some of the affiliates who’ve lost money in the scheme. Unfulfilled promises, unrealistic AU maturity projections and using well-known merchant names to lure new AU investors in is apparently all in a days work for those sitting [Continue reading…]

There are two ways to analyse Lyoness. You can either look at the giftcard and cashback of the business, totally ignore the Accounting Unit investment scheme and thus conclude Lyoness is about shopping… Or you can follow the flow of money through the company, and realize that most of the commissions paid out are a [Continue reading…]

Following on the heels of earlier news today that the ACCC regulatory body in Australia are suing Lyoness for being a pyramid scheme, comes a response from the company. Hollow rhetoric and colossal amounts of waffling? Youbetcha!

It’s not exactly how I pictured easing myself back into blog coverage of the MLM world, but news broke last night that Lyoness are being prosecuted by Australian regulators. As per their website, the Australian Competitor Consumer Association (ACCC) promotes competition and fair trade in markets to benefit consumers, businesses, and the community. We also [Continue reading…]

A few weeks back news broke that the Norwegian Gaming Board had concluded their investigation into Lyoness. Known for their thorough regulatory analysis of MLM companies in the past (see Wealth Masters and World Ventures), it was hoped that the Gaming Board’s conclusion would shed light on some of the figures behind the scheme. In particular, [Continue reading…]

Never a dull moment in this industry! Last December the Norwegian Gaming Board launched an investigation into Lyoness. The aim of the investigation was ‘to assess whether (Lyoness) is an illegal pyramid‘. Now, six months later the Gaming Board has concluded their investigation. Despite Lyoness’ Account Unit investment scheme however, the Board has cleared the company of all [Continue reading…]

Some time earlier, the Swedish Gaming Board opened an investigation up into Lyoness. While the Gaming Board carried out their investigation, a separate investigation was opened up in Norway and Poland’s OCCP declared Lyoness to be a pyramid scheme. Now the Swedish Gaming Board have concluded their investigation into Lyoness… and in doing so have [Continue reading…]

Following an investigation into Lyoness Europe AG, the Office of Competition and Consumer Protection in Poland are claiming Lyoness “can be a Ponzi scheme“. Not surprisingly, the OCCP’s claim relates to the accounting unit investment scheme Lyoness have buried within their merchant shopping network: The company offers participants the opportunity to receive material benefits that [Continue reading…]

Up until now you had to invest a lot of time building your international shopping network. Networking and making appointments to introduce Lyoness took a lot of effort as well. These networking contacts had to be updated while taking care of your existing members. This was very time-consuming. Well, that’s why we’ve developed MyLyconet. -Lyconet [Continue reading…]

Due to ongoing coverage of some the biggest Ponzi schemes that operate within the MLM industry, here at BehindMLM one of the more common questions we get is “why aren’t the authorities doing anything?” Some affiliate investors in such schemes even go so far as to use a lack of regulatory intervention as “proof” of [Continue reading…]