Lyconet Lyoness – reviews
Deciding to make money on the Internet without checking the reviews of specific sites is unfortunately quite easy to fall prey to fraud. So we always have to be vigilant and check the portal well before joining it – especially if it requires us to pay some fee. Of course, everyone can forget about it – especially if someone talks nicely about such „business”. A great example of a pyramid scheme that has cost many people money and resulted in convictions is Lyoness. It was a cashback service, and the whole brand is already spoken about Lyconet. Although it still operates on the Internet, but under different names. What you should know about the company?
Lyoness – what is it?
Lyoness is a company that was founded in Austria in 2003. Basically it was a cashback portal, whose business was to be based on network marketing. According to information officially served by the founders, the venture successfully operated in more than 40 countries, on 6 continents, and the shopping community counted in 2016 more than 5 million members. This type of description, as well as the many serious business partners the company had, made the site look really interesting. Unfortunately, only in theory, because it did not take a deep analysis to see that the main income came from attracting more people to the program. So it ended up that the way the company operates was considered financial pyramid.
How Lyoness works
The Lyoness principle was very simple. By shopping in selected stores we increased our position in the program structure, thanks to which we could count on greater discounts in the stores of the company’s business partners. However here is a „hook” because in order to get the appropriate number of „trading points” in the Lyconet program we had to pay as much as 2400 euros and to recruit more people into the system. Of course, there were also other fees to e.g. to get the status;Premium Marketer„, although ostensibly our activity was to be aimed at promoting a cashback service.
How does financial pyramid work
Various companies and websites often try to somehow hide the fact that they are financial pyramids, but contrary to appearances, it is not so difficult to review them at all. You just need to know what they are and analyse the way they work quickly to find out.
What next for Lyoness and Lyconet
In the Lyoness (Lyconet) business it was quite easy to see that the way it works looks like a pyramid scheme. That is why it was only a matter of time before the relevant services took an interest in it. The investigation took a long time, but the company was in no way able to confirm that its revenue comes from sales and not from recruiting more people. Subsequent verdicts were reached in her case, so Lyoness had to close down in many countries. But it didn’t end there, because the company also had to pay multimillion-dollar fines and even refund money to the victims. Although the website is no longer on the Internet, the company did not simply fold up. It continues to function as Lyconet, and the service itself offering cashback only changed its name and method of operation.
Subsequent convictions meant that the company Lyconet quite quickly changed the name of its program. Initially on CashbackWorld, Lyoness CashbackWorld was merged with MyWorld marketplace and now you can find it on the internet under this name. Although the current activity of the site significantly differs from its original version, but the previous actions of Lyconet company still strongly affect its credibility.
How to get your money back
Unfortunately, many people let themselves be persuaded into this great „business” paying considerable money, so it would be worth trying to get it back. Admittedly it is not easy but nowadays a lot of law firms help you with this. There are even ready-made forms for the Lyconet / Lyoness case on the internet, so it’s worth looking for them.
Current Lyconet business
Lyconet company still offers its services, so we can easily find it on the Internet. According to the information available on the official website it is marketing agency, whose main goal is to support people around the world in becoming independent entrepreneurs. What it offers?
- business opportunities – helps to start your own business, – webinars supporting personal and financial development,
- event management – events inspiring and motivating people all over the world.
Of course, this business is just a theory, the description of which is simply nice on the website.
Parties belonging to the Lyconet brand
There are still websites operating under the Lyconet brand name:
- MyWorld – cashback program, thanks to which we can count on a partial refund for purchases,
- TravelWorld – travel booking platform,
- EliteClub – Club for entrepreneurial personalities from all over the world.
Lyconet Lyoness reviews
There is no doubt that Lyoness was a pyramid scheme. These are not only illegal, but also usually expose us to significant financial losses. Therefore it is definitely not worth getting into them, and even more so to encourage more people to do so.
Lyconet’s current business appears to be still providing the opportunity to register more people and build „structure”. However, the past of the company puts a big question mark on its any business, so it is rather not worth to bother with them.
Do you have any experience with Lyconet / Lyoness? Share your opinion in the comments.