NextGen, the thrice collapsed Ponzi scheme, held a advertising occasion in Cyprus between March tenth and twelfth.
On the occasion My Automotive Membership was revealed as NextGen’s new advertising funnel.
As NextGen’s Managing Director Paul Chalmers defined;
This funnel lets you generate income when you’re bringing them (new traders) in.
My Automotive Membership operates from the stand-alone area “mycarclub.com”.
NextGen isn’t talked about anyplace on My Automotive Membership’s web site. Nor are founders Rehan and Rizwan Gohar.
As a substitute, My Automotive Membership pitches itself as a Dubai primarily based “automated software program service powered by crypto”.
Dubai is the MLM crime capital of the world. Sooner or later in 2021, as their BizzTrade Ponzi scheme was collapsing, the Gohar brothers fled the UK for Dubai.
They returned to the UK in late 2021/early 2022 for the BizzTrade Professional reboot – however appear to have maintained undisclosed ties to Dubai by way of My Automotive Membership.
My Automotive Membership prices €149 EUR to enroll and pitches entry to a Mercedes Benz for €29 EUR a month or €319 EUR yearly.
To qualify for entry to a “firm owned” Mercedes Benz C Class or equal automobile, or €600 EUR a month an affiliate should:
- recruit three associates and
- generate a complete downline of at the very least 120 associates
Nextgen affiliate family tree has been imported, stacking the deck in opposition to new My Automotive Membership recruits.
Past this, the extra downline associates recruited, a month-to-month fee that grows is paid out:
- complete downline of 240 associates = entry to automobile and €1500 EUR a month
- complete downline of 360 associates = entry to a automobile and €4000 EUR a month
- complete downline of 480 associates = entry to a automobile and €7000 EUR a month
- complete downline of 600 associates = entry to a automobile and €10,000 EUR a month
Naturally to depend in direction of complete downline necessities, recruited associates should be paying €29 EUR a month.
On the MLM aspect of issues My Automotive Membership operates as a pyramid scheme.
- €50 EUR is earned per affiliate recruited
- €99 EUR is earned if an affiliate recruits three associates inside their first thirty days
If a My Automotive Membership affiliate doesn’t qualify for entry to a automobile after two years, the next diminished qualification/various choices are made obtainable:
- finish of two years with out qualifying = diminished complete downline qualification to 99 associates, or no automobile and a “vacation”
- finish of three years with out qualifying = diminished complete downline qualification to 90 associates, or no automobile and a “luxurious vacation”
- finish of 4 years with out qualifying = diminished complete downline qualification to 78 associates, or no automobile and a “resort vacation”
- finish of 5 years with out qualifying = diminished complete downline qualification to 60 associates, or no automobile and a “2 individuals vacation”
If any of the above diminished qualification or various choices are claimed, the timer is reset again to yr one.
Fairly clearly the core concept behind My Automotive Membership is getting others to contribute in direction of a lease, obtained by way of My Automotive Membership (or no matter shell firm it’s tied to Dubai by way of).
The difficulty from a regulatory perspective is that no retail merchandise are marketed to or offered to retail clients. This turns into more and more problematic as associates qualify for extra month-to-month funds by way of elevated recruitment.
At these ranges, one may even make the argument that, as month-to-month funds are clearly being paid out of affiliate charges, that My Automotive Membership itself is working as a pyramid scheme.
Pay and proceed to pay €29 EUR a month, construct a downline of 240 individuals additionally paying in €29 EUR a month and obtain a €1500 EUR month-to-month ROI and so on.
However My Automotive Membership being a advertising funnel for NextGen, which itself is a 400% ROI Ponzi scheme.
As beforehand said, Dubai is the MLM crime capital of the world so don’t count on them to do something about NextGen or My Automotive Membership.
NextGen is operated from the UK. Sadly the Monetary Conduct Authority has a monitor document of ignoring MLM associated securities fraud.
As of February 2023, SimilarWeb tracks prime sources of site visitors to NextGen’s web site as Colombia (53%, down 46% month on month), the UK (15%), Italy (12%) and India (7%).