My Car Club: Steer Clear about the Involvement in Ponzi Scam. Avoid!
Between March 10 and March 12, NextGen, the three times collapsed Ponzi fraud, hosted a marketing event in Cyprus. My Car Club was introduced as NextGen’s new marketing channel at the event.
About My Car Club
My Car Club claims that its goal is to give its members a singular, exclusive, and unmatched experience. Its goal is to provide each customer with a safe and happy experience that encourages them to return for additional services. They try to offer a wide range of benefits to cater to unique needs and desires.
The aim is to offer members an extraordinary level of customized attention so they may test drive new cars and explore new prospects. From the caliber of their vehicles to the meticulousness of their client service, they work hard to go above and beyond expectations with every part of their services.
Launch of My Car Club
Paul Chalmers, the managing director of NextGen, explained;
With the help of this funnel, you may generate income even as you attract new investors. The independent domain “mycarclub.com” serves as the operating base for My Car Club. There is no mention of NextGen anywhere on the My Car Club website. The founders Rizwan and Rehan Gohar are also not.
Instead, My Car Club describes itself as an “automated software service powered by crypto” with headquarters in Dubai. The world’s MLM crime capital is Dubai. The Gohar brothers left the UK for Dubai at some point in 2021 as their BizzTrade Ponzi scam was coming to an end.
For the BizzTrade Pro revamp, they left the UK and returned in late 2021 or early 2022, but they appear to have kept covert ties to Dubai through My Car Club. My Car Club offers Mercedes Benz access for €29 per month or €319 per year, and membership is €149.
To be eligible for use of a Mercedes Benz C Class or comparable vehicle that is “company owned” or €600 per month, an affiliate must:
-Recruit three affiliates
-Create a downline of at least 120 affiliates overall.
The odds are stacked against new My Car Club members because next-gen affiliate genealogy has been imported. Beyond this, a growing monthly commission is given out as downline affiliates are added:
-240 affiliates total downline equals a car and $1500 per month.
-360 affiliates total downline equals a car and $4000 each month.
-Total downline of 480 associates equals a monthly income of €7,000 and access to a car
-600 associates downline together equals a car and €10,000 each month.
Naturally, affiliates must be paid €29 each month to count toward the total downline criteria. In terms of MLM, My Car Club runs like a pyramid system.
-Each affiliate recruited earns €50.
-If an affiliate hires three affiliates within their first thirty days, they will receive €99.
After two years, the following reduced qualification/alternative alternatives are made available to My Car Club affiliates who don’t meet the requirements for access to a vehicle:
-Lowered total downline qualification to 99 affiliates after two years without qualifying, or no automobile and a “holiday”
-End of three years without qualifying = lowered total downline qualification to 90 affiliates, or no automobile and “luxury holiday”
-A “resort holiday” and no car if you don’t meet the requirements by the conclusion of the four years.
-If you don’t meet the requirements by the end of five years, your downline qualification will be cut to 60 affiliates, which will result in you getting a “2 people holiday” and no automobile.
The timeframe is reset to year one if any of the alternative or reduced qualification alternatives listed above are chosen. Getting others to contribute to a lease that is purchased through My Car Club (or whatever shell company it is connected to Dubai through) is, quite obviously, the main goal of My Car Club.
The problem, from a regulatory standpoint, is that there is no retail product marketing or retail customer sales. As affiliates qualify for more monthly payouts through increased recruiting, this becomes a bigger concern. At these points, one could even argue that My Car Club is essentially a pyramid scheme since monthly payments are unmistakably made out of affiliate commissions.
Put and keep paying €29 per month, develop a downline of 240 individuals who put in €29 per month, and earn a monthly ROI of €1500, etc. Even though My Car Club serves as a marketing channel for NextGen, a 400% ROI Ponzi scheme in and of itself.
What is a Ponzi Scheme?
A Ponzi scheme is a criminal deception investing fraud pledging increased rates of interest with less chance of loss to investors. On the other hand, a Ponzi scam is a deceitful investing fraud that induces retrievals for earlier investors with money carried from later investors.
What is a Pyramid Scheme?
A pyramid scheme is an unethical and unreliable investment pitch that depends on guaranteeing irrational profits on fictitious investments. The fact that the early investors receive these substantial returns prompts them to endorse the program to others. Returns to investors are paid from fresh capital coming in. When there are no more investors left, the pyramid eventually falls.
In one type of pyramid scheme, investors charge initiation fees to the investors below them, who then pay them. The higher layers of the pyramid receive a percentage of these fees as well. There is ultimately nobody left to recruit. The pyramid crashes down. These businesses, sometimes known as pyramid schemes, are forbidden in the United States.
Multi-Level Marketing Pyramid Scheme
MLM is an authorized kind of company operation. Distributors or MLM members sell genuine goods or services using this business model. Distributors are compensated for the MLM products and services they sell. Additionally, they may be compensated for sales made by distributors they have recruited and the individuals those recruits later on refer.
However, certain MLM-impersonating pyramid schemes exist. The Federal Trade Commission advises consumers to be aware of and stay away from MLM promoters who:
-Make bold promises about your big earning potential.
-Try to convince folks that the true money is in recruiting others.
-compel participation without providing sufficient information about the organization
-Make it plain that if they don’t act right away, a chance will pass them by.
Existing distributors who continue to purchase goods they will never sell to be eligible for rewards are another red flag.
My Car Club Conclusion
Don’t anticipate them to take action against NextGen or My Car Club because, as was previously mentioned, Dubai is the global epicenter of MLM crime. The UK serves as the operating base for NextGen. Unfortunately, the Financial Conduct Authority has a history of ignoring securities fraud connected to MLM.
The top four countries driving visitors to NextGen’s website as of February 2023 are Colombia (53%, down 46% month over month), the UK (15%), Italy (12%), and India (7%).
Just look at their website. If you have a bit of knowledge about Dubai, you will know that their stated HQ is in the middle of a desert. Actually in the middle of nowhere. They will fleece you. ACN, LTW, Scoin, Bizztrek, Bizztrade, Nextgen and now this. This is a team of fraudsters. Rehan, Rizwan, Shweta, Daliwal these guys are pro frauds.
Just look at their website. If you have a bit of knowledge about Dubai, you will know that their stated HQ is in the middle of a desert. Actually in the middle of nowhere. They will fleece you. ACN, LTW, Scoin, Bizztrek, Bizztrade, Nextgen and now this. This is a team of fraudsters. Rehan, Rizwan, Shweta, Daliwal these guys are pro frauds.
You need to get your facts accurate. Ponzi schemes are usually big dollar programs. This program is €33 a month. The money is poolled that is how the cars are received. You need to do your homework? Slam in a program without them fully investigating it hurts the program and the people involved. Do you research this is not a Ponzi scheme there’s no large upfront money and you receive a car when you assist our help 120 people do the same thing as you pay €33 a month. it’s not a Ponzi scheme wake up. Your investigation o are like the Democrats in the states.
Hello, are you all stateing that My Car Club is a SCAM ?
So What about the people who gotten their cars in the US. Are they lying?
Of course not
Ces gens qui ont obtenu leurs voitures l’ont obtenu dans la poche et la sueur de leurs affiliés qui eux n’ont rien obtenu et n’ont aucune certitude d’obtenir quelque chose plus tard. C’est ça le ponzi.
It is important to avoid any firm which is following the negative firms thus make sure you are always with the right people.
I can guarantee you that if you will search for the reviews of the company most of them are going to be negative I can ensure so I will also suggest you avoid My Car Club for making modifications to your car and will ask you to go for a better option rather than wasting your time and money behind these scammers.
I will recommend you go for some better options and not waste your money and time with My Car Club as they aren’t upto the mark and are wasting on their users thus it is very much important to avoid these firms for making them stand for their life thus make sure you are never mislead after these firm for better information you can search for public reviews over the internet.
Seems like someone had busy typing fingers on May 16th around 3:46pm!! Lol
Looks like this review (full of half truths, smoke, mirrors, and diversions) is the real scam!! I wonder what the writer sells or what “income opportunities” they have access to? I also wonder how well they are compensated for these “articles”?
So this guy’s review are scams, he scams MLM companies not that some don’t deserve it many certainly do. He writes his reviews without any real first hand evidence or first hand personal experience with the companies he’s writing about.
They (The companies) ask him to take it down, he says I’ll take it down for a huge fee, they refuse and threaten to sue he gives them the middle finger saying you have to find me first
Then writes more fake reviews. It’s a scam I know this cos one of his victims already gave me his playbook.
I would recommend you to search for some other customers and then only make an investment accordingly because the chances of wasting your time and money are high, I have observed several people wasting their money with My car club and are not satisfied with their services so make sure you are not one of them, search for better options in the market then only you will be able to make a difference and can make the best use of your money.
My car club is filled with several scams thus it is very much important to avoid such people thus it is very important to make sure you don’t fall for this Ponzi scheme and make your time and money wasted with these firms, thus make sure your money isn’t wasted with this firm, thus it is very important to avoid such firm for any investment process thus avoid any investment with this firm for putting yourself at the safe side thus avoid indulging with this company and also make sure you are not misguided by any of the firms and also avoid any type of investment with them. I have seen several people who have got misled by these firms and landed themselves in a position where they are regretting investing with them and aren’t able to do any type of investment, so make sure you are always investing with the right people and never waste your money with these fraudsters.
Hi everyone,most reviews about MLM companies are biased.I listened to people giving testimonies that they got a bonus of $275 by helping 3 people join the club within one month, with a subscription of $143. I took a step of faith and I gave a try and I got my money back. For now on, I have nothing to lose like many testifiers. So, my only advice is to stay away from mycarclub if you don’t like to take a risk, if you don’t have faith, or if you have nobody to talk to. God bless
Hello everyone,most reviews about MLM companies are negative. I’m a risk taker. I saw that mycarclub offered a bonus of $275 if you helped 3 people join the club within one month with a subscription of $143. I listened to people giving testimonies. I gave a try and I got my money back. For now on, I have nothing to lose like many testifies. So, my only advice is to stay away from mycarclub if you are shy or you have nobody to talk to. God bless ????