Is Lyoness a scam??
Just google Lyoness scam or not?
Hello and thank you for entrusting me to answer your question.
Is the website for this company www.thecashbackcompany.com ?
I look forward to assisting you...
Sorry, I gave a faulty link there. Here is the website I have for Lyoness. Please confirm that this is the company you are inquiring about: http://www.lyoness.net/us/
yes this is the company
I look forward to hearing from you soon
Thank you for confirming
That's the company I thought it was.
My impression, after a very thorough review, is that this company is likely operating a multilevel/pyramid marketing scam, and you should avoid them becoming involved with them.
The first red flag I noticed is contained in the VERY FIRST sentence of their website. They state: "LYONESS AMERICA, INC. is a Delaware Corporation having its offices at XXX XXXXX XXXXXX, Suite 2710, New York, NY 10118." Yet, their domain registry indicates that the website was created in the country of Malta, several thousand miles away and free form the financial regulation of the United States.
I also take issue with the fact that their website is quite vague in regard to how this service actually operates. Lyoness mentions the need to attend "seminars." Anything that needs to be sold at a "seminar" should be immediately regarded as suspect.
There appear to be a very large number of "shill" reviews for this company (reviews posted by company representative and not actual, satisfied customers). This is another huge concern.
Here is a much more honest assessment of Lyoness: http://www.englishforum.ch/business-entrepreneur/101705-lyoness-cash-back-card-system.html
It is about to be launched in Australia and they claim they have official accreditation in Europe
"Official accreditation" is extremely vague. There is simply way too many red flags here for it to be worth any involvement. The reviews, the fake address, the Malta operating location, the pyramid scheme. I've seen many businesses like this before and they are typically scams.
Does this adequately answer your question? My goal is that you are absolutely satisfied with my response, so if you have any additional questions or concerns please let me know.
this company as explained to me started in Austria in 2006 and has millions of customers and a turnover of bllions of dollars...is it a giant Pnzi scam or is it legit ?
For the reasons discussed above, I believe that this is a ponzi or pyramid scheme, and while it is certainly possible for some people to make money in this type of system, it should be avoided.
thankyou for your help...how can this company be stopped??
It would take a massive, class action lawsuit on theories of fraud, misrepresentation and breach of contract.
There is a grey area with companies like this.
They are not taking your money and disappearing. They aren't stealing.
What they are doing is being deceptive (in my opinion) about the income earning potential of their program in a manner that generates profits for their business.
ok so they are high profile but you feel it would be better not to join their cacshback system
So, this isn't a black and white "fraud," so to speak. It is simply a business that, in the opinion of many people, dramatically stretches the truth and makes unreasonable promises. It is not something worth becoming involved with.
ok thanks again I will take that onboard
Yes, I feel quite strongly that it would be a bad idea, knowing what I do about businesses with this type of structure and in light of the poor reviews and other discrepancies on their site that put their integrity into question.
I would be very grateful for your "Accept" if I have adequately answered your concerns. Very kindest regards.
Attorney with significant fraud prevention experience.