My Life Change 247, or MLC247, is an investment opportunity that claims people can make 75% monthly compounded income from a small initial investment. But is this really true and what’s the deal with all the people recruiting others in? Is this a pyramid scheme…. a Ponzi scheme? Is My Life Change 247 a scam that you need to avoid? After all the controversy surrounding this company such as the government investigations and the Bank of Nambia warning investors to avoid it, these are some logical questions that need to be answered.
In this review I’ll be going over what you need to know about this place. The truth is that YES it is a scam and if you were thinking about joining you are going to want to think again.
My Life Change 247 Review
MLC247 calls themselves a “donation program”, but really it’s nothing more than a Ponzi scheme.
How it works is you make an initial investment and then supposedly earn 75% monthly compounding income off of that initial investment. How can this possibly work out? The answer is that it can’t… Well at least not legitimately. They don’t come straight out and tell you that it’s a Ponzi scheme, but why would they? That would just scare investors away.
But a Ponzi scheme is the only logical conclusion you can come to when questioning how this system is able to pay out members so much money.
A Ponzi Scheme Indeed
Just think about it. You could invest R200 and within six months supposedly end up with 28,722. You can see below how the income would compound month after month all stemming from an initial R1000 investment…
- 1 Month = 1750
- 2 Months = 3063
- 3 Months = 5359
- 4 Months = 9378
- 5 Months = 16,413
- 6 Months = 28,722
On top of this they also pay referral commissions so that the new investors keep flowing into the program. The referral commission structure is set up in a pyramid -like fashion, meaning that you can recruit new investors in and earn commissions off of their investments, and earn commissions off of the investments of the people they recruit in, and off of the investments of the people that those people recruit and, and so on.
The referral commission structure goes 4 levels deep. So the people that you directly recruit in will be your level 1, the people that they recruit in will be your level 2, the people that those people then recruit in will be your level 3, and the next line of recruits will be your level 4. You will earn the highest commissions off of your direct referrals and will earn less on levels 2, 3, and 4 as you can see here:
- Level 1 – 10% commissions
- Level 2 – 2%
- Level 3 – 2%
- Level 4 – 2%
These Systems Never Work Out
Some people make a ton of money from Ponzi schemes like this but in the end they never work out. They are always doomed from the start based on the fact that they provide no value. They don’t sell any real products or services and their entire operation relies on the steady flow of new investors coming in. And when these new investors stopped coming in or the flow slows down, the roof caves in on the entire operation.
When Ponzi schemes collapse the overwhelming majority of investors lose money. This is how it works with every single Ponzi scheme that has ever existed. There are always many more investors on the bottom of the pyramid -like structure then at the top. The investors at the top have likely recouped their initial investment but all those investors at the bottom are going to be out of their money, and likely with no chance of ever getting it back.
I review scams like this all the time. For example recently I looked into the Ryna Holdings probable Ponzi scheme and then there are lots of different cryptocurrency Ponzi’s going around right now like Supreme Power Coin.
Too Late To Join Now
It appears to me that it is much too late to join MLC 247 at this point in time. This Ponzi scheme is on its way downhill and it is going fast. To stand any real chance of making money with a Ponzi scheme like this you have to be one of the early investors. As I just went over above, the overwhelming majority of investors are late to the party and end up losing money.
So if you do want to capitalize on these types of schemes you have to get in very early… That’s the bottom line. But of course I do not recommend anyone join these type of destructive schemes because all they do is hurt people. A lot of people lose a lot of money in these things and that is why they are illegal. So do yourself a favor and avoid known Ponzi schemes or operations that appear to be Ponzi schemes because all you will be doing is hurting other people not to mention the fact that you will likely lose money yourself.
Conclusion on MLC247
These types of Ponzi schemes are always the same. They always claimed to provide some life-changing financial freedom and it all seems like a fairytale. The income that they claim to provide is not realistic by any legitimate means and is certainly not sustainable.
I know these types of things may be very tempting to join because you might hear stories about people making tons of money with them, which some people do, but what you have to keep in mind is that the people that do make money with these things are very few and far in between.
Anyway, I hope this quick review has been helpful and I hope it has given you a better big picture of what is going on here and why you should avoid this scam program.
Before you leave be sure to leave any questions or comments you may have below. I will gladly get back to you as soon as I am able to 🙂