The Lyconet/MyWorld case: collapsing like a house of cards
It’s a drama in several acts that has been playing out for years – and is now heading for rock bottom. The latest developments around Lyconet and myWorld reveal a shocking picture of a system that many have already exposed as a typical pyramid scheme. While those responsible around Hubert Freidl continue to hide behind questionable statements, the entire network is threatening to collapse. Let’s lay the facts on the table.
Paid-in funds were not used to build a stable cashback business or a sustainable network of merchants, as promised. Instead, the funds flowed into opaque structures, were split, shifted and distributed to so-called ‘leaders’ on a large scale. The attempts to attract new merchants primarily served to maintain the appearance of a productive shopping community.
The consequences of years of manipulation can no longer be overlooked. Even the most influential players in the system and other central figures are withdrawing. The turnover of the network’s once-supporting structures has apparently shrunk to a minimum, and high-ranking officials are leaving the sinking ship.
For the remaining marketers, the situation is becoming increasingly hopeless. A long-standing top leader of the system, who had built up an impressive 17 million mSP, is currently receiving just 600 euros quarterly
for it – a far cry from the grandiosely promised 60,000 to 70,000 euros. This blatant discrepancy ruthlessly exposes the reality behind the glamorous promises.
The legal process
Authorities in several countries are now investigating, including the public prosecutors in Cologne and Vienna, as well as the FTC and SEC in the USA. According to available information, 40 aggrieved marketers in the USA have joined forces, each of whom had invested between $200,000 and $400,000 and were locked out of their accounts overnight. Such incidents are not trivial in the US, but can lead to drastic consequences for those responsible.
A last-ditch desperate attempt
The current demand for marketers to pay 49 euros per month from March onwards in order to secure their alleged claims is particularly audacious. This is not only a slap in the face for those who have already suffered considerable losses, but also reveals the desperation of those responsible. Hubert Freidl, who once boasted of luxury goods such as yachts and jets, is said to have sold assets. But it is more than questionable whether he will use his personal assets to save the system.
The @Mediabox is now being advertised as a last resort. But without a clear dealer base or practical use, this project is also doomed to fail. Which serious dealers should invest here?
Perhaps Hubert Freidl, who has certainly not failed to notice the increasing proximity of the judiciary, should concentrate on acquiring funds in tax-advantageous zones such as the Dubai International Financial Centre (DIFC), the Jebel Ali Free Zone (JAFZA), the Dubai Multi Commodities Centre (DMCC), the Dubai Silicon Oasis (DSO), as well as in Dubai Media City and Dubai Internet City – and thus actually do something good for the remaining marketers do something good for them. On his website, Freidl himself claims to have a fortune of 500 million US dollars. In view of this sum, it should be obvious that he should make amends without being ordered to do so by the courts.
It would also be good for some top leaders to take a clear position towards their downline and not try to take them with them into the next system.
Hubert Freidl has undoubtedly made mistakes, but the responsibility for the current situation does not lie with him alone. For years, he was advised by a close circle who also pursued their own interests and advantages.
Note: And as always, those affected are welcome to comment on this, or if someone has more or different information, they are welcome to share it with us. We are not interested in making false claims and our primary goal remains to provide complete documentation.
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