NextGen, the thrice collapsed Ponzi scheme, held a marketing event in Cyprus between March 10th and 12th.
At the event My Car Club was revealed as NextGen’s new marketing funnel.
As NextGen’s Managing Director Paul Chalmers explained;
This funnel allows you to make money while you’re bringing them (new investors) in.
My Car Club operates from the stand-alone domain “mycarclub.com”.
NextGen isn’t mentioned anywhere on My Car Club’s website. Nor are founders Rehan and Rizwan Gohar.
Instead, My Car Club pitches itself as a Dubai based “automated software service powered by crypto”.
Dubai is the MLM crime capital of the world. At some point 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 Pro reboot – but seem to have maintained undisclosed ties to Dubai through My Car Club.
My Car Club costs €149 EUR to sign up and pitches access to a Mercedes Benz for €29 EUR a month or €319 EUR annually.
To qualify for access to a “company owned” Mercedes Benz C Class or equivalent car, or €600 EUR a month an affiliate must:
- recruit three affiliates and
- generate a total downline of at least 120 affiliates
Nextgen affiliate genealogy has been imported, stacking the deck against new My Car Club recruits.
Beyond this, the more downline affiliates recruited, a monthly commission that grows is paid out:
- total downline of 240 affiliates = access to car and €1500 EUR a month
- total downline of 360 affiliates = access to a car and €4000 EUR a month
- total downline of 480 affiliates = access to a car and €7000 EUR a month
- total downline of 600 affiliates = access to a car and €10,000 EUR a month
Naturally to count towards total downline requirements, recruited affiliates must be paying €29 EUR a month.
On the MLM side of things My Car Club operates as a pyramid scheme.
- €50 EUR is earned per affiliate recruited
- €99 EUR is earned if an affiliate recruits three affiliates within their first thirty days
If a My Car Club affiliate doesn’t qualify for access to a car after two years, the following reduced qualification/alternative options are made available:
- end of 2 years without qualifying = reduced total downline qualification to 99 affiliates, or no car and a “holiday”
- end of 3 years without qualifying = reduced total downline qualification to 90 affiliates, or no car and a “luxury holiday”
- end of 4 years without qualifying = reduced total downline qualification to 78 affiliates, or no car and a “resort holiday”
- end of 5 years without qualifying = reduced total downline qualification to 60 affiliates, or no car and a “2 people holiday”
If any of the above reduced qualification or alternative options are claimed, the timer is reset back to year one.
Quite obviously the core idea behind My Car Club is getting others to contribute towards a lease, obtained through My Car Club (or whatever shell company it’s tied to Dubai through).
The issue from a regulatory perspective is that no retail products are marketed to or sold to retail customers. This becomes increasingly problematic as affiliates qualify for additional monthly payments through increased recruitment.
At these levels, one can even make the argument that, as monthly payments are obviously being paid out of affiliate fees, that My Car Club itself is operating as a pyramid scheme.
Pay and continue to pay €29 EUR a month, build a downline of 240 people also paying in €29 EUR a month and receive a €1500 EUR monthly ROI etc.
Notwithstanding My Car Club being a marketing funnel for NextGen, which itself is a 400% ROI Ponzi scheme.
As previously stated, Dubai is the MLM crime capital of the world so don’t expect them to do anything about NextGen or My Car Club.
NextGen is operated from the UK. Unfortunately the Financial Conduct Authority has a track record of ignoring MLM related securities fraud.
As of February 2023, SimilarWeb tracks top sources of traffic to NextGen’s website as Colombia (53%, down 46% month on month), the UK (15%), Italy (12%) and India (7%).