Is NeXarise another Pyramid Scheme?
NeXarise is a new venture launched in the UK recently and has slowly been gaining some momentum with expansion planed into Europe and America. But what exactly is it and is it worth investing in? More importantly is NeXarise a Pyramid Scheme or another ACN scheme?
Their website states “NeXarise is a Home Based Business Opportunity for individuals who want more out of life” which pretty much covers most of us but first let’s summarise what a Pyramid or Ponzi scheme is again.
Both of these schemes work in a way which only allows investors and members to make money by recruiting others to join. Not only have these schemes been deemed illegal in many countries they are also considered haram by many scholars so should be avoided altogether.
To get around this many online entrepreneurs who previously pushed these schemes came up with a different twist on these. Namely your very own online business where you can sell a product or service and generate a small commission for yourself. This is completely legitimate and also considered a halal business practice but…. The only way to generate any really big commissions was to (yes you guessed it) recruit new members!
ACN is a big example of this and has now pretty much disappeared due to many complaints and legal issues. However the interesting thing to note is that the three founders of NeXarise Ahmed Mukhtar, Asad Ali and Liju Thomas ALL did very well out of ACN and have now set up a very similar project with NeXarise.
Although it is early days the general consensus by our team is that NeXarise could very well follow the CAN path of offering very little as far as your genuine own business goes but will push more towards the member recruiting others to generate any significant commission.
Currently they are set to offer services such as Energy, Mobile Phone, Broadband, Travel, Insurance, Home care cover, Forex Trading Education, Nutrition, Web development & SEO all of which will provide the member with a small commission every time they sell one of these.
We are looking to contact the founder of NeXarise directly to gain details on commission structure and the Multi-Level Marketing side of this business opportunity and will update this post as and when we have further details.
In the meantime if you wish to take a look at this please do as much research as possible and ask them as many questions as you need to. And DON’T part with any money if you have even the slightest doubt that this may not work for you.