GrowthClub Life fails to supply possession or government data on its web site.
GrowthClub Life’s web site area (“growthclub.life”), was privately registered on Could seventh, 2023.
Courtesy of off-site advertising, two names we are able to connect to GrowthClub Life are Victor Louis Tolulope, aka Victor Louis Adegunloye (Nigeria) and Kamran Abbasi (UK).
Each Tolulope and Abbasi are former NextGen Academy Ponzi scammers.
Tolulope was a NextGen Academy promoter, Abbasi was a part of the manager workforce.
NextGen Academy was a Ponzi scheme run by the infamous Gohar brothers; Rehan and Rizwan.
The Gohar brothers’ crime spree started in 2019 with the BizzTrek pyramid scheme. After BizzTrek collapsed the Gohar brothers launched BizzTrade later that very same 12 months.
BizzTrade collapsed twice underneath its personal title over the following few years. In late December 2021 a 3rd BizzTrade reboot was launched at BizzTrade Professional.
BizzTradePro lasted till April 2022, prompting the Gohar brothers to launch NextGen Academy.
NextGen Academy started to break down by early 2023, prompting the launch of My Automobile Membership in March 2023.
Following a regulatory enforcement motion in Australia tied to cash laundering, NextGen and My Automobile Membership collapsed in or round Could 2023.
Adegunloye and Abbasi started selling GrowthClub Life just a few months later, in or round September 2023.
As at all times, if an MLM firm shouldn’t be brazenly upfront about who’s working or owns it, assume lengthy and arduous about becoming a member of and/or handing over any cash.
GrowthClub Life’s Merchandise
GrowthClub markets entry to passive returns tied to purported “ElevateWealth” automated buying and selling.
GrowthClub Life solicits funding on the promise of “as much as 20% month-to-month”, capped at “600% in 24 months with compounding”.
The minimal funding quantity is $500, with GrowthClub Life pitching shoppers on two funding plans:
- Conservative System – as much as 10% a month, capped at 300% over 24 months
- Aggressive System – as much as 20% a month, capped at 600% over 24 months
Observe that GrowthClub Life prices a 35% price on all ROI funds.
Entry to GrowthClub Life’s passive returns funding scheme is by way of subscription:
- Common – $49.99 a month
- Normal – $224.99 each six months
- Professional – $399.99 yearly
- Premium – $999.99 each three years
GrowthClub Life’s Compensation Plan
GrowthClub Life’s compensation plan is tied to referral of buying and selling clients and recruitment of associates.
Recruitment Commissions
GrowthClub Life associates pay a $50 becoming a member of price. This price is paid as a gifting cost to recruiting associates.
I.e. you recruit a GrowthClub Life affiliate and also you obtain their $50 becoming a member of price cost.
Residual Recruitment Commissions
GrowthClub Life rewards high recruited with a month-to-month bonus:
- refer/recruit fifteen clients/associates and obtain $200 a month
- refer/recruit fifty clients/associates and obtain $600 a month
- refer/recruit 100 and fifty clients/associates and obtain $1000 a month
- refer/recruit 300 clients/associates and obtain $3000 a month
- refer/recruit 4 hundred and fifty clients/associates and obtain $5000 a month
- refer/recruit eight hundred clients/associates and obtain $10,000 a month
- refer/recruit one thousand 5 hundred clients/associates and obtain $25,000 a month
- refer/recruit three thousand clients/associates and obtain $50,000 a month
ROI Charge Commissions
ROI price commissions are paid out by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel workforce, with each personally recruited affiliate positioned instantly underneath them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel workforce.
If any degree 2 associates recruit new associates, they’re positioned on degree 3 and so forth and so forth down a theoretical infinite variety of ranges.
GrowthClub Life caps payable unilevel workforce ranges at ten.
ROI price commissions are paid as a share of the 35% ROI price charged throughout these ten ranges as follows:
- degree 1 (personally recruited associates) – 10%
- degree 2 – 4%
- degree 3 – 3%
- degree 4 – 2%
- ranges 5 to 10 – 0.5%
Funded Program Commissions
GrowthClub Life represents it provides buying and selling funding of as much as a million {dollars}.
If a GrowthClub Life affiliate qualifies for funding, whoever recruited them earn 10% of returns generated with funded capital.
Becoming a member of GrowthClub Life
GrowthClub Life affiliate membership is $50, paid in tether (USDT).
GrowthClub Life represents it solicits price funds via Convey;
When you make a cost utilizing digital foreign money, your cost could also be processed by our affiliate, Convey Dot Ltd., on our behalf.
On its web site Convey pitches itself as an “various cost infrastructure for Africa”.
GrowthClub Life Conclusion
GrowthClub Life is a mix gifting pyramid scheme, coupled with securities and commodities fraud.
The Gifting pyramid scheme of GrowthClub Life is straightforward: You enroll as an affiliate, pay $50 and obtain the $50 buy-in price of everybody you recruit.
The ElevateWealth securities and commodities fraud aspect of GrowthClub Life exists by the use of a typical “lulz can’t contact our cash!” scheme.
The “lulz can’t contact our cash!” mannequin permits associates to speculate funds in their very own change account. That is carried out on the promise of passive returns, derived via GrowthClub Life’s purported buying and selling of unknown origin.
Beneath this mannequin GrowthClub Life traders are duped into believing that as a result of funds are traded in their very own dealer/change accounts. In different phrases, they’ll’t be stolen.
That is false. Usually “lulz can’t contact our cash!” schemes exit-scam via blowing the bot up or rigged trades.
Securities and commodities fraud comes into play by the use of GrowthClub Life failing to supply proof it has registered with securities and commodities regulators in any jurisdiction.
Having launched in This fall 2023 and regardless of pitching astronomical month-to-month returns…
…as of November 2024 GrowthClub Life was begging associates to pay charges on time:
One thing clearly doesn’t add up right here. However at 20% a month, over the previous 12 months there must be loads of GrowthClub Life gajillionaires working round.
As an alternative, as of November 2024, site visitors to GrowthClub Life’s is simply too low for SimilarWeb to trace.
Pending GrowthClub Life buying and selling losses are along with funds misplaced via its pyramid scheme. This alone will have an effect on nearly all of Empire associates when mentioned pyramid scheme inevitably collapses.
Oh and clearly don’t fall for this a million {dollars} funded account baloney. No one is giving randoms entry to 1 million {dollars} for something with out some severe strings hooked up.