Thread: FlexKom aka Flexcom aka Weeconomy - legitimate MLM or scam ??

I am completely staggered at the lack of any Due Diligence show by any of the comments here. I joined this because I truly thought that it was a group of clever astute individuals reviewing potential opportunities with a clear metric.
What exactly is the methodology that you use to decide if an opportunity is legitimate or a scam? All that I can see here is nonfactual conjecture, based upon nothing more than your personal dislike for what you have decided is erroneous.
Sad really when you think that you really did have an opportunity to evaluate in a professional manner which might have added value to or deterred people from joining. I would suggest that most intelligent people reading this will simply turn off.
Your community should be endorsing great opportunities and advising against real scams by presenting fact based on measurable, real and conclusive evidences.
FlexKom, who knows, I came here seeking advice, do or don’t do, you have failed me, so I shall continue to do my own research.
Ps, I will advise you what the outcome is……………
Due Diligence

Originally Posted by DueDiligence

I am completely staggered at the lack of any Due Diligence show by any of the comments here. I joined this because I truly thought that it was a group of clever astute individuals reviewing potential opportunities with a clear metric.
What exactly is the methodology that you use to decide if an opportunity is legitimate or a scam? All that I can see here is nonfactual conjecture, based upon nothing more than your personal dislike for what you have decided is erroneous.
Sad really when you think that you really did have an opportunity to evaluate in a professional manner which might have added value to or deterred people from joining. I would suggest that most intelligent people reading this will simply turn off.
Your community should be endorsing great opportunities and advising against real scams by presenting fact based on measurable, real and conclusive evidences.
FlexKom, who knows, I came here seeking advice, do or don’t do, you have failed me, so I shall continue to do my own research.
Ps, I will advise you what the outcome is……………
Due Diligence

If Mark Stokes & Ian Driscoll are involved it is most likely a scam However, yes it is a good Idea to do your own research if you find anything out either way please post your findings here.
It does look though like the maths of this scheme don't add up.

Originally Posted by DueDiligence

Ps, I will advise you what the outcome is……………
Due Diligence

Thank you, don't be surprised if on your journey you encounter a lot of quacking and waddling though

Originally Posted by StevenHoward

When corporate sites are developed they go through extensive testing by the developers before going live, spelling mistakes and incorrect usage of language just DO NOT appear. A translator fluent in Turkish and English should have been employed to approve the final drafts.

.

Unfortunately spelling mistakes get into very professional documents. A recent tv ad in the UK had a mild dig at our American cousins and one of the things they put out was that Aluminum was actually Aluminium. They then said "it has a U in it". Actually the different letter is an I. Imagine the people involved in this that didn't spot the mistake. Bad spelling doesn't mean a dodgy business, honnesst.

Loved the fact that it takes 5 years to register. These boys should do their homework! Keep up the good work!

Originally Posted by Dreamstealer

Unfortunately spelling mistakes get into very professional documents. A recent tv ad in the UK had a mild dig at our American cousins and one of the things they put out was that Aluminum was actually Aluminium. They then said "it has a U in it". Actually the different letter is an I. Imagine the people involved in this that didn't spot the mistake. Bad spelling doesn't mean a dodgy business, honnesst.

Loved the fact that it takes 5 years to register. These boys should do their homework! Keep up the good work!

Honnesstlee :), there should be no spelling mistakes.

I've been involved in creating corporate sites, EVERYTHING was gone through with a fine toothcomb, then again and yet again.

Of course bad spelling doesn't mean a bad business, I've spotted a few on different sites myself and have still purchased from them.

These tend to be smaller companies with sites created by a small team of designers.

For larger companies it just should not happen, pop along to Apple,Google,Msoft,7-11,Forbes,McDonalds mistakes generally do not creep in on corporate sites like these, if they do they're quickly spotted and updated.

Someone showed me this opportunity today. If it is MLM, then it has no wealth warning on its websites and has no cooling off period.
If it is a franchise, is it a member of the British Franchise Association?

Why was it tested in Turkey of all places.

Originally Posted by DueDiligence

I am completely staggered at the lack of any Due Diligence show by any of the comments here. I joined this because I truly thought that it was a group of clever astute individuals reviewing potential opportunities with a clear metric.
What exactly is the methodology that you use to decide if an opportunity is legitimate or a scam? All that I can see here is nonfactual conjecture, based upon nothing more than your personal dislike for what you have decided is erroneous.
Sad really when you think that you really did have an opportunity to evaluate in a professional manner which might have added value to or deterred people from joining. I would suggest that most intelligent people reading this will simply turn off.
Your community should be endorsing great opportunities and advising against real scams by presenting fact based on measurable, real and conclusive evidences.
FlexKom, who knows, I came here seeking advice, do or don’t do, you have failed me, so I shall continue to do my own research.
Ps, I will advise you what the outcome is……………
Due Diligence

Don't forget to exercise due diligence...!

Originally Posted by laidback

Don't forget to exercise due diligence...!

I see what you did there.

Originally Posted by StevenHoward

He claims they have been trading for under two years. To be listed on the NYSE there must be five years of annual shareholder reports (plus lots of other criteria must be met).

Read more at How Do Companies Get Listed on the New York Stock Exchange? | eHow.com

This guy is spouting absolute garbage.

AFAIK you also have to be a PLC which is a bit more complicated than a Limited company. A normal limited company may have two shareholders . a PLC has a minimum of fifty if I recall. And for all their "trading for two years" There isnt a UK or Irish Limited company so they don't have any "employees". there is a German company HRB 204268
Flexkom Europe GmbH which is NOT two years old!
Registered 2013-03-27, on march 27, on wednesday as a registered companies in Germany

Flexkom Europe Gmbh (München) - HRB 204268 - Deutsch, Germany company

so much for "two years trading" LOL. Closer to two weeks!

Originally Posted by DueDiligence

I am completely staggered at the lack of any Due Diligence show by any of the comments here. I joined this because I truly thought that it was a group of clever astute individuals reviewing potential opportunities with a clear metric.
What exactly is the methodology that you use to decide if an opportunity is legitimate or a scam? All that I can see here is nonfactual conjecture, based upon nothing more than your personal dislike for what you have decided is erroneous.

Well one might start with the FACT you have been shown about rules the NYSE has for joining ~ e.g. actually being in business as a Public Limited Company for five years.
2. Then there is the FACT that there are no Flexkom companies in the countries they claim to be trading in for the last two years except Germany and that company was set up in MARCH . March 2013 that is. a couple of weeks ago.

3. Then there is the past history of Driscoll and Stokes with the Banners Broker ponzi scam.

1, 2 and 3 are real conclusive and measurable.
Driscoll has no Flexcom UK limited but he has tried to corner the internet name registration. Of course names cost may a hundred for the lot but a company costs a few thousand to have audits by real accountants and articles and mrmoranda of Association stating how it is constituted. and people can actually see your audited accounts! REal measurable and conclusive accounts!

Sad really when you think that you really did have an opportunity to evaluate in a professional manner which might have added value to or deterred people from joining. I would suggest that most intelligent people reading this will simply turn off.
Your community should be endorsing great opportunities and advising against real scams by presenting fact based on measurable, real and conclusive evidences.
FlexKom, who knows, I came here seeking advice, do or don’t do, you have failed me, so I shall continue to do my own research.
Ps, I will advise you what the outcome is……………
Due Diligence

Flexkom is a farce and your comments don't stand up! The evidence given in the above thread indicate the flexkom scheme has more holes in it the holiest of holy Swiss cheese. You are in denial and I don't mean the river.

I have started some initial investigating of Flexkom and have come to this basic outline. Althrough there are four major entries into this scheme, I will only offer an insight from a retail perspective for now in as simple terms as possible. It seems to me that Flexcom are offering franchises to retailers so they can offer CARDS to there customers, which can be used to obtain discounts from OTHER retailers and used as payment to buy goods from there store and others.
In summary, RETAILERS are paying for these discounts by buying the cards and/or purchasing a franchise. A percentage (and very complicated percentage calculation) then goes to FlexKom.

There are TWO major drawbacks initially that I can see.
Firstly, no MAJOR high street outlet will allow a 10% DISCOUNT of every purchase. Not only will that compromise there margins but will affect other promotions they may run.
If you think about the stores in YOUR local neighbourhood, how many are there? And how many are multinationals/independants? Where is the scope to discount?
Secondly, even IF they do get a whole town to sign up, some stores will have higher priced retail goods than others. Smaller stores with low priced, high turn over goods will suffer if they have to repeatedly offer a discount and have to accept payment with 'flex money'.
I am not at this stage saying it is a scam of any sort, but I wonder what benefit the retailers will have if ultimately all they are doing is giving a percentage of there profits to flexkom with no guarantee how the cards they have paid for and distrubuted are being used?

It's basically an attempt to clone Lyoness and AiYellow mixed into one.

Retailers won't see it as a scam, but it won't be very profitable for them either. The discounts they give aren't there until customers walk through their doors, but if there's enough of them it may ruin them instead of helping them. Sorta related to the various horror stories about how Groupon killed a couple small businesses when those extra orders they brought in (offered at a loss) killed the company's cashflow. It sure generated a lot of buzz, but that rush ain't always worth it. Only super-high-margin businesses can afford to do Groupon (spas, resorts, etc.)

Which is the same issue you said, basically. Small margin neighborhood stores won't touch this, and big chain stores won't bother with this. Some "medium" size stores can be tricked into joining, but the only one making any money off this would be the sales reps and FlexKom themselves.

Originally Posted by kschang

It's basically an attempt to clone Lyoness and AiYellow mixed into one.

Retailers won't see it as a scam, but it won't be very profitable for them either. The discounts they give aren't there until customers walk through their doors, but if there's enough of them it may ruin them instead of helping them. Sorta related to the various horror stories about how Groupon killed a couple small businesses when those extra orders they brought in (offered at a loss) killed the company's cashflow. It sure generated a lot of buzz, but that rush ain't always worth it. Only super-high-margin businesses can afford to do Groupon (spas, resorts, etc.)

Which is the same issue you said, basically. Small margin neighborhood stores won't touch this, and big chain stores won't bother with this. Some "medium" size stores can be tricked into joining, but the only one making any money off this would be the sales reps and FlexKom themselves.

It is hard to believe that the founders of FlexCom aren't aware of this. They have no more difficulty in conducting the same research as any readerof this thread.

The success of this highly dubious mlm depends on their new members not working it for themselves, but falling for the promotion spiel.

As for claims of Stock Exchange quotation...........puhleees

This high entry mlm scam sounds like a poor man's Dubli

Hi guy,

Did some research into this company. There seems to be clear discontent from the people in Turkey and quite few of them have filed court cases. Pls becareful here. Here are the links in Turkish use google chrome or other translation sites to translate.

Also there is a TV showing in Turkey which is on youtube but its in Turkish. Lot of Turkish people have been left out of pocket. Now they have moved to Europe to do the same.

LINKS

Flexkom çal
Flexkom
Yine saadet zinciri, yine ma
BİLİNMEYEN FLEXKOM GERÇEKLERİ - ANA SAYFA

Facebook people you can contact to ask questions about Flexkom

https://www.facebook.com/stefan.hostettler1
https://www.facebook.com/bernd.seitz.1
http://www.facebook.com/murat.ekin.963871

Video:
Ehline Soral

Top people who have resigned Flexkcom in Turkey

Nermin DOĞAN SME DİRECTOR... REsignaton
Mustafa KAYMAZ- SME DİRECTOR RESİGNATİON
EROL PAKEL - FLEXKOM %25 OWNERS... RESİGNATİON
ADEM EROĞLU , FLEXKOM PT CAREER... HE HAVE GOT 5000 DİSTRİBUTOR... RESİGNATİON...
İLYAS ÖZSOY - ND CAREER - RESİGNATİON
YASİN KILIÇ - PT CAREER - 15000 DİSTRİBUTOR, RESİGNATİON..
STEFAN HOSTETTLER - SWİTZERLAND CEO - RESİGNATİON..

Please kindly contribute if you find anything else. This is worth investigating before you put any money in.

Hope this helps.

FLEXKOM FRAUD
You may not come across to any negative criticism against Flexkom on internet.
The company acts wisely in the related issue and tries to get ahead of those who comments negatively on Flexkom. The situation was just like that in Turkey but it reversed afterwards. Reconsider your decision if you are planning to start a job in the company as there is not any negative comment.
The company was founded in 2011.
On his first meeting in Konya, Cengiz Ehliz gave the promise of completing all the projects by July.
Here is the link : Flexkom - YouTube
When we reached to August, it became obvious that nothing was like it had been represented. But it was too late as we had signed the contract. They assured that they would definitely complete the system as seen on the video link. They presented themselves as a qualified company which was not similar to other companies; however, the reality was that they were quite an facile company.
Branded products were going to be sold out on the e-trade site. The products on the site were going be discounted products up to %90. The initial statement was to give indemnity to the customers if they found any cheaper product. They changed the site several times saying that they are developing it. You cannot point to anyone among 40 thousand people who earn money out of the site. They just pocketed money of those who got bronze and gold packages.
Sme stage was to be completed within this term. They gained time by producing a swiping machine like a calculator. When the situation got reaction, they claimed that it was a fault of a company which has a corner in the world.
Later on, they collected money with various promotions to gain time. It was claimed that all the studies would be completed by January 2012 and they would get rich with the revenue coming from European teams. They were said to be working but couldn’t achieve the projects mentioned earlier. There is just a record of the names. Their debut was on January 8, 2012;
They said
- that everyone would be able to buy a car within 3 years just by watching TV commercials on FlexTV.
- that everyone would be given 20-30% discounted electricity with FlexEnergy
- that they would make 50% discounted phone call possible, which would put other operators into a tight spot with FlexGSM
- that they would sell 50% discounted products because the contact with the factories had been completed
- that they would make profit of 10 thousand dollars in a month
- that ticket sales with FlexHoliday will bring money
So many people started to work in the company with the energy work but when the company realized that they would not be able to do energy work, they stepped back claiming the law had changed. However, there was no change. They just deceived those people by using out the money collected for the energy work and didn’t give back the money.
As stated above, they deceived people. They stole their money, labour and dreams. They tried to deescalate the reactions by acclaiming them as traitors. They said on the stage that they gave out free cars to PTs they actually did that. Actually, the money for them was provided with the premiums of PTs. When something went wrong with the payments, the cars were taken back from the PTs. Ceo Davut Türkoğlu was sued because he stole one of them from its parking lot.
The company was in the newspaper of Zaman (with 1 billion daily circulation) and they sued the newspaper. They lost the case but declared that they were the winner.
Cengiz Ehliz was fired as a result of the court decision after a fraud in Aylnet Virtual Merchandising which is a associated company with Flexkom.
The company is currently dealing with fraud cases in Turkey. They are telling to the Europeans that plenty of money is being earned out of this business. They deceive people with the lie that Salih Kılıç who has quitted the company earns 500 thousand dollars annually.
You may look over by writing Flexkom to the link. OBTAINER Directory - Magazine Directory | Newspaper Directory | Business and Lifestyle Magazine
Naci Açış earned 1 billion dollars in in here but he closed his office within a year due to some financial problems and began giving Flexkom seminars at home. They trying hard to open a new office.
Smes has grown completely away from the system in Turkey. Many smes do not use swiping machine. Commercial careers of people have been harmed. They have intensely got into debt, which made them sufferers of this system. They have begun to have problems with their families. Seeing that the system was not running as promised by Cengiz Ehliz, those aggrieved people asked their money from the supporters.
The company made an unilateral cancellation to the contracts of those who showed reaction and criticized the company. They deceive the people in Europe saying that their past was a testing stage and they succeeded in running the system. Henceforward, it will run perfectly according to them, which is a sheer trickery.
THE QUITTERS
Erol PAKEL – Company Founder 25% Stockholder - 20 thousand distributor
Nermin Doğan - Turkey General Sbe Manager
Mustafa Salih Kaymaz – Turkey General Sbe Manager
Stefan Hosttler - Switzerland CEO
Yasin KILIÇ – Flexkom’s first PT -Having 10-15 distributor
Adem Eroğlu – Zehra Eroğlu - Flexkom PT’leri..
Mustafa Türkay - Flexkom ND
İlyas ÖZSOY – Flexkom ND - Having 2-3 thousand distributor
Emir Ali YILDIZ – Flexkom PT
Some of them were dismissed out of the system because they revealed the deceits of the company. Some resigned with their own free will. Does anyone leave and sue a system out of which they earn a large amount of money? Those who are still there are people of adulation and delusion.
Europeans had better mind their eyes!

A site with Flexkom fraud information:

fakeflexkom - WHAT 0S FLEXKOM

fakeflexkom - WHAT 0S FLEXKOM

I have info that FlexKom are launching here (England) very soon, so we will be hearing alot more about them I' m sure.

Originally Posted by DueDiligence

FlexKom, who knows, I came here seeking advice, do or don’t do, you have failed me, so I shall continue to do my own research.
Ps, I will advise you what the outcome is……………
Due Diligence

No you won't.

Came across this facebook link regarding Flexkom fraud in Turkey.... https://www.facebook.com/pages/Flexk...53709781338460

All MLMs are scams whether they are technically "legal" or not because they make more money off their down lines than they do off the product or service they are selling. Which MLM scheme do you know of that is legit and makes big money for everyone and not just the initiators sitting pretty at the top of the pyramid?

Many people has been asking me to verify the company for them but i am not able to read through their website. Do they have some sort of English site?

Originally Posted by Tank

All MLMs are scams whether they are technically "legal" or not because they make more money off their down lines than they do off the product or service they are selling. Which MLM scheme do you know of that is legit and makes big money for everyone and not just the initiators sitting pretty at the top of the pyramid?

There is no need to even get into an discussion about the pros and cons of MLM when discussing FlexKom.

It is not even an MLM.

It is a ponzi fraud made to LOOK like an MLM.

I love this guys fake book Flexkom UK Launch

Screen Shot 2013-06-16 at 18.08.07.jpg

Mark Stokes Pimping FlexKom

Banners Broker not so much...



Looking forward to seeing this FlexKom App in the App Store.