Following on from the collapse of NextGen Academy earlier this yr, My Wealth Membership has emerged as an official reboot.
My Wealth Membership operates from the area (“mywealthclub.com”), first registered in 2015.
The personal registration was final up to date on September 14th, 2023. That is doubtless when Chalmers and his enterprise companions took possession of it.
On its web site, My Wealth Membership pitches itself as a foreign currency trading platform.
My Wealth Membership offers you $100k a month of instruments and knowledgeable institutional market analysts and merchants to offer you buying and selling alternatives via the day.
Change into a completely certified dealer assessing and making income from our methods. Or simply comply with for 10 minutes a day the businesses commerce alternatives and make nice income each month.
My Wealth Membership memberships price between $150 to $1000, with an ongoing $83 to $150 month-to-month payment. The $1000 membership is the one tier that gives “downline reporting” and what seems to be entry to an MLM alternative.
My Wealth Membership cites Paul Chalmers as CEO on its web site:
On LinkedIn Chalmers cites himself as CEO of My Wealth Membership from October 2023.
One thing that isn’t acknowledged on Chalmers’ LinkedIn profile is that he’s the previous Managing Director of NextGen Academy.
NextGen Academy is the final reboot of Rehan and Rizwan Gohar’s multi-collapsed Ponzi scheme.
Together with My Wealth Membership, there have been 5 reboots: BizzTrek (the unique pyramid scheme, 2019), BizzTrade (2019), BizzTrade Professional (2022) and NextGen Academy (2022).
Inside NextGen Academy you additionally had My Automotive Membership, a short-lived advertising and marketing funnel launched in early 2023.
My Automotive Membership is what differentiates My Wealth Membership from different NextGen Academy spinoffs launched by former promoters (e.g. NewEra and Linxella).
If we check out the source-code of My Wealth Membership’s web site, we discover it’s pulling belongings immediately from My Automotive Membership’s web site:
Whereas there’s no company tackle offered on My Wealth Membership’s web site, on social media it represents it’s primarily based out of Dubai.
Because of the proliferation of scams and failure to implement securities fraud regulation, BehindMLM ranks Dubai because the MLM crime capital of the world.
BehindMLM’s tips for Dubai are:
- If somebody lives in Dubai and approaches you about an MLM alternative, they’re attempting to rip-off you.
- If an MLM firm is predicated out of or represents it has ties to Dubai, it’s a rip-off.
This tracks with NextGen Academy and the remainder of the Gohar brothers scams. The Gohar brothers themselves, initially from the UK, are believed to be hiding out in Dubai.
Chalmers himself may need fled the UK:
One other risk is Dubai being a crimson herring, with My Wealth Membership and Chalmers nonetheless primarily based out of the UK.
The background used for My Wealth Membership advertising and marketing movies…
…seems to be an terrible lot like a repainted model of the backgrounds used for the Gohar brothers’ earlier scams:
My Wealth Membership solicits payment funds in cryptocurrency. My Wealth Membership presents what appears like automated buying and selling via an app:
Our Institutional merchants every week day commerce firm funds and make important income.
While you be a part of you get the change [sic] to comply with these Buying and selling alternatives your self both on the web site or our app.
This might see My Wealth Membership fall foul of the FCA. The FCA banned MLM cryptocurrency funding schemes on October eighth, 2023.
Ideally the FCA would have by now gone after the Gohar brothers for his or her numerous pyramid and Ponzi schemes courting again to 2019, however I digress.
All mentioned and carried out, the vast majority of members in each Gohar brothers scheme have misplaced cash. My Wealth Membership, run by the identical folks, gained’t be any completely different.