NextGen Academy Review: BizzTradePro Ponzi implodes
Yeah, there’s a lot of baggage here.
BizzTrade and BizzTradePro were Ponzi schemes run through BizzCoin and BizzCoinPro. Both seemingly now abandoned.
BizzTradePro’s official FaceBook and Twitter profiles have been deleted:
Enter NextGen, a hastily put together reboot looking to capitalize on what’s left.
NextGen is headed up by Rehan and Rizwan Gohar.
The BizzTrade office in Birmingham in the UK has been rebranded:
And the scheduled BizzTradePro event in Turkey, where Rizwan is setting up an offshore office to replace Dubai, has simply been renamed:
Someone who’s a bit more prominent in NextGen marketing this time around is Paul Chalmers.
Chalmers, a UK resident, is being cited as NextGen’s Managing Director.
Mr. Paul Chalmers is responsible for managing daily operations along with being in charge of all trading activities for the company.
None of the Bizz* Ponzis had anything to do with trading but did bundle “forex education” with affiliate investment.
That’s continuing with NextGen and is presumably what Chalmers brings to the table.
NextGen is supposed to go live on the domain “nextgen.io” at some point. The domain’s registration was last updated on January 8th, 2022.
This would likely be around the time the Gohar brothers acquired it. That this was so close to the BizzTradePro reboot is troubling.
Read on for a full review of NextGen’s MLM opportunity.
NextGen has no retailable products or services.
Affiliates are only able to market NextGen affiliate membership itself.
NextGen’s Compensation Plan
NextGen affiliates invest in AMGEN, a cryptocurrency created by NextGen.
- Pro Starter – €100 EUR
- Apprentice – €200 EUR
- Business – €500 EUR
- Professional – €1000 EUR
- Elite – €2500 EUR
- Trader – €5000 EUR
NextGen flogs AMGEN off to affiliates at €0.20 EUR each.
NextGen affiliates invest in AMGEN on the promise of a 400% ROI.
This return is paid daily, capped at “up to 1%” a day.
The MLM side of NextGen pays on funds invested by recruited affiliates.
Note although not explicitly clarified, it is assumed all MLM commissions are paid in AMGEN.
NextGen Affiliate Ranks
There are nine ranks within NextGen’s compensation plan.
Along with their respective qualification criteria, they are as follows:
- Active Trainee – generate €100 EUR of investment on both sides of your binary team
- Qualified Trainee – generate €500 EUR of investment on both sides of your binary team
- Team Leader – invest at the Professional or higher tier and generate €5000 EUR of investment volume on both sides of your binary team
- Team Manager – personally recruit one Team Leader on both sides of your binary team
- Senior Manager – personally recruit two Team Leaders on both sides of your binary team
- Regional Director – personally recruit one Senior Manager on both sides of your binary team
- Regional President – personally recruit one Regional Director on both sides of your binary team
- President – personally recruit one Regional President on both sides of your binary team
- Global Ambassador – personally recruit one President on both sides of your binary team
NextGen affiliates earn 10% of funds invested by personally recruited affiliates.
NextGen pays residual commissions via a binary compensation structure.
A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).
Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note there is no limit to how deep a binary team can grow.
At the end of each day NextGen tallies up new investment volume on both sides of the binary team.
Affiliates are paid a percentage of funds invested on their weaker binary team side.
The specific residual commission rate paid out is determined by how much a NextGen affiliate themselves has invested:
- Pro Starter to Business tier affiliates earn a 7% residual commission rate
- Professional and Elite tier affiliates earn an 8% residual commission rate
- Trader tier affiliates earn a 9% residual commission rate
Team Leader ranked NextGen affiliates qualify for a ROI match.
NextGen pays the ROI Match via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
NextGen caps the ROI Match at ten unilevel team levels:
- level 1 (personally recruited affiliates) – 2%
- levels 2 to 10 – 1%
NextGen takes 10% of company-wide revenue and places it into the Founders Pool.
The Founders Pool is paid to Trader investment tier affiliates who have also qualified at Team Leader.
Rank Achievement Bonus
NextGen rewards affiliates who have qualified at Team Leader and higher with the following Rank Achievement Bonuses:
- qualify at Team Leader and receive a “TL Kit” (magazine, “gold coin”, badge, t-shirt, pen and diary and “nextgen badge”)
- qualify at Team Manager and receive a “NextGen watch”
- qualify at Senior Manager and receive an iPhone
- qualify at Regional Director and receive a MacBook
- qualify at Regional President and receive a Rolex watch or €5000
- qualify at President and receive a Mercedes Benz
- qualify at Global Ambassador and receive an “apartment”
NextGen affiliate membership is free.
Full participation in the attached income opportunity requires an initial €100 to €5000 EUR investment.
Note that to qualify at Team Leader and higher, a €1000 EUR Professional tier investment is required.
There’s not much to NextGen. You have the same old % a day Ponzi model, with a new BEP-20 shitcoin.
AMGEN would have taken 5 minutes to set up at little to no cost. New investors are lured in with a fresh coat of paint, AMGEN pumps.
Scammers withdraw, AMGEN dumps. This has already played out with both BizzCoin and BizzCoinPro.
AMGEN was publicly launched on or around April 16th. There’s a bit of odd spike manipulation going on but otherwise it’s traded sideways at around 50 cents.
50 cents corresponds to €0.0136 EUR. So if you’re buying a NextGen package and getting tokens at €0.2 EUR, you’re already taking a hit.
One addition worth noting, and this probably explains the last-minute reboot, is the Gohar brothers wanting to jump on the NFT bandwagon.
The NFT fad is mostly over. And that’s in the public domain. Literally nobody is going to care about Ponzi NFTs, they’re DOA.
Other than that, NextGen is weighed down by two plus years of shitcoin bagholders.
These earlier investors, some of whom would have made money scamming long-gone victims, are already preloaded and positioned through whatever deals existing investors were given.
You as a new NextGen investor are helping them recoup widespread losses.
Being a third-gen Ponzi scheme recruitment isn’t likely to take off, even for a brief moment.
As with BizzTrade and BizzTradePro, the math behind Ponzi schemes guarantees the majority of participants lose money.
Update 7th November 2023 – NextGen Academy has been rebooted as My Wealth Club.