MyWorld co-owner Sharif Omar recetly announced the Asia-expansion at a specially is planning on launching his cashbackworld-pyramidscheme there. But is the highly competitive Asian market ready for the Austrian knights of the pyramid scheme? The ten-minute press conference was held with Alfian Abu Talib, myWorld APAC CEO and Datuk Seri Nelson Kwok, former President of the Malaysian Retail Chain Association. In classic Lyoness/Lyconet/myWorld fashion, they need people who have actually achieved something to lend them credibility to eventually drag others into their legally questionable mess.
The conference was held on the topic of the expansion to the Asian market with its starting point in Malaysia and a plan to be “listed” there in the next three to five years, presumably meaning “going public”. Omar emphasizes that Hubert Freidl made cashback big in Europe with Lyoness 19 years ago and alleges that myWorld has over 50 million customers/members. Although Lyoness started as a shopping community, Hubert Freidl did not invent Cashback. His innovation was merely to combine an ordinary cashback system with a pyramid scheme. Moreover, the alleged membership figures of Lyoness/Lyconet/myworld have never been officially verified, since they refused from the beginning to have their figures officially confirmed.
Right: Booking action Asia 2012-2014:
Datuk Seri Nelson Kwok mentions that Malaysians are keen spenders, while Sharif Omar speaks of a long-term vision for Malaysia and Asia, because cashback is particularly useful and helpful in regions where people MUST buy drinking water. They are also putting together a five-year plan that will be presented at the information event in early July of this year. The goal is to expand to 5 more countries, reach 100 million customers and be “listed” within the next 3 to 5 years. If you put all this in front of the members between 2007 and 2012 who invested their money back then, they would be more than upset. At that time, the expansion to the Indian and US market were announced and promoted with similar promises. By the way, have the future stock market millionaires ever asked themselves where all those members from back then are today?
Keyword IPO: Are they slowly building up this Asia expansion as the next excuse if the shares in Gelsenkirchen do not bubble up this July as announced? Since in fact not a single company of the Lyoness/myWorld group is stock market ready. Additionally, the US Federal Trade Commission warned against three Lyoness/Lyconet/myWorld branches and blacklisted them back in 2021. More on this in this video: