What are some of the details of the lawsuit against Lyoness?


Quick Answer

The Australian Competition and Consumer Commission filed a pyramid scheme lawsuit against shopping network Lyoness, according to the Australian Broadcasting Corporation. In a pyramid scheme, investors are promised they will make money by recruiting other investors to take part in the scheme. There is no real investment.

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Full Answer

The ACCC also claims that Lyoness violated referral selling laws by encouraging sales on the promise of a future commission, notes ABC. Lyoness told premium members that they would get a percentage of the money spent by a minimum of 500 people, according to some of these premium members. A premium membership cost $3,000 as of 2015. Members are hoping the lawsuit will help them get their money back.

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