Micah Theard, owner of CashFlow NFT, is promoting a new fraudulent investment scheme called BG Lifestyle Club. This follows a pattern of alleged "CPU ownership" scams that have resulted in significant investor losses. Theard recently emailed investors, attempting to explain away these losses by citing "regulatory challenges" related to new European MiCA laws.

This explanation is misleading. The MiCA (Markets in Crypto-Assets) regulation in Europe does not govern securities law, which is directly relevant to investment schemes like those operated by CashFlow NFT. This same false narrative about regulatory hurdles was previously used to mask the collapse of the Mavie Global Ponzi scheme. ScamTelegraph notes that CashFlow NFT and Miracle Technologies, also known as Miracle Cash & More, are essentially the same entity.

Theard's email also makes bold claims about community ownership in Miracle Technologies/Metaterra, projecting a future valuation of $30 billion for the community's stake. He further states that CashFlow NFT is nearing a submission to the SEC for a $500 million capitalization contract. However, MetaTerra, a company acquired by CashFlow NFT to lend an air of legitimacy, is currently delinquent in its SEC filings. Its annual report for the year ending December 2023 was due on April 1, 2024, and remains over seven months overdue. Crucially, there is no mention of CashFlow NFT's investment schemes in any of MetaTerra's official filings, which list its business as "selling auto parts."

BG Lifestyle Club, the latest venture, involves Theard and his business partner Hakan Törehan soliciting investments by claiming agreements with major global merchant processing companies. The purported opportunity stems from these companies' alleged need to inform merchants about accepting crypto payments via 100 million active terminals in over 120 countries. Investors are told that funding is required to facilitate this expansion.

The business model for BG Lifestyle Club mirrors that of previous CashFlow NFT schemes. Investors are asked to deposit $900 with the promise of monthly returns of $30 or more, with returns increasing as more people invest. The scheme also features a multi-level referral program. Affiliates earn an 8% commission on personally recruited members and 3% on recruits in the second and third levels. While specific investment amounts are not detailed, a sample calculation shows that 10 referrals at the Tier 1 level, earning 8%, would yield $720.00. This calculation implies an investment amount that would generate such a commission.

Victims of prior CashFlow NFT schemes can report to the SEC's Office of Investor Education and Advocacy.