Fraud Alert – Review Smart Business Corp
Smart Business Corp. doesn’t specify who owns or runs the company on its website. Research indicates that Ernesto Reséndiz is the founder and CEO of Smart Business Corp.
Resendiz says he is based in Mexico on his LinkedIn profile. Smart Business Corp., a Mexican company, is involved in this case. Smart Business Corp. also has a presence in Mexico.
Smart Business Corp registered the domain smartbusinesscorp.com.mx for its website in 2015. A Mexican address in Benito Juarez, Mexico, is only part of the owner’s address: Ernesto Resendiz Lopez.
By visiting the Wayback Machine, you can see that the domain of Smart Business Corp’s website has been modified to “smartfundlimited.com.” This was the case until November 2020.
Around the middle of 2021, the current Smart Business Corp website went live. A footer on the Smart Fund Limited website states, “This website is run by SBC.” SBC runs its business and/or provides services at 1276 Kumul Hwy, 1st Floor, Govant Bldg, Port Vila, Vanuatu.
Smart Business Corp, or SBC, has no connection to Vanuatu. Shell companies are usually set up by scammers in places where it is easy to commit scams.
The official YouTube channel of Smart Business Corp has videos dating back as far as March 2020. SBC Mexico’s office opening: From this, we can tell that Smart Business Corp has been operating under its own name since at least the beginning of 2020.
The Smart Fund Limited is a bad investment. In 1996, SBC called itself a broker: it was founded and is today one of the largest and most recognizable brokers in the industry. Our company does a great deal of trading and offers high liquidity to traders around the globe. ”
To be honest, I initially thought Smart Business Corp was just Smart Fund Limited all over again. The scheme appears to be another Ponzi scheme that Resendiz ran before it failed.
Investors were told by IBF International they would get $100 back every month if they invested $410. Ernesto Reséndiz, the founder of the company, was arrested during a publicity tour by the government of Ecuador while the company appears to have fallen apart for the first time in 2014.
According to Ecuavisa, Mahala reported a new fraud case on a large scale. A Mexican man was taken into custody by police in the capital city of Ourense in July 2014. He was suspected of being involved in an internet advertising scam on a large scale.
Twenty-five people have so far complained that they have not been paid for two months after putting down between $250 and $410 as a membership fee to get into the advertising business.
A foreigner claiming to be the CEO of IBF International shows a group of people how “the largest and most profitable capitalization system without debt” works, according to El Comercio.
Earlier this week, El Oro’s capital, Machala, arrested Ernesto L., 42. He was believed to be the company’s director.
He was caught in an office by the police after a group of people accused him of not paying.
The Second Court of Criminal Guarantees put him in jail on July 4, even before he committed any crime. It is unclear what happened after Resendiz was arrested. On the other hand, this “debt elimination” nonsense has been going on in Mexico since 2011, at the very least.
Smart Business Corp Director Ernesto Reséndiz López has been touring the country explaining this new way to do business.
The way the company, which has already attracted over 11,000 members across the country, operates is by members coming together for financial assistance and training about how to run a successful business.
Despite the simplicity of the idea of members lending each other money, getting training advice, and making money, he warned that putting it into action is difficult.
According to the project’s creator, who delivered a conference in a Fenaza room, the idea has crossed borders and has been used in other countries. The idea relies on not going into debt, and has been running for a year.
Based on all this, we can say that Resendiz began the Ponzi scheme Smart Business Corp in Mexico around 2010. After Smart Business Corp failed, Resendiz started IBF International. After expanding beyond Mexico, IBF International failed in mid-2014. A few years later, Resendiz returns to Mexico to start a non-Ponzi trading platform called Smart Fund Ltd. Smart Fund Limited fails, which leads to the relaunch of Smart Business Corp. Smart Business Corp relaunches at the same time as Smart Fund Limited, but it does not acquire its own “smartbusinesscorp.com.mx” domain until some time in 2021.
Several of Resendiz’s Ponzi schemes have gone unnoticed by the Mexican authorities.
Today, we’ll take a look at the current version of Smart Business Corp. Read on for a full review of Smart Business Corp’s multi-level marketing opportunity.
There are no products or services to sell in Smart Business Corp. Affiliates may only sell Smart Business Corp’s memberships.
Members of Smart Business Corp. put their USD equivalents into bitcoin as part of their pay plan. The motivation behind doing this is the promise of “compound ROI” payments every month for 24 months.
Members of Smart Business Corp have two options for investing their first money:
Invest $795 and earn 2% per month for 24 months, resulting in a return of $1,278.71.
For a total return of $3208.97, invest $995 and get 5% interest every month for 24 months.
Following the selection of an additional investment plan, Smart Business Corp offers “additional plans.”. Which additional plans are offered to affiliates depends on whether they invest in the Basic or Premium tier first.
It is possible to purchase the extra plans with the basic or premier plan, or later on their own.
You can earn 3% per month by investing $795 and $500 for 24 months ($904.46 total return on investment).
After 24 months, you will get back $2032.79, or 3.5% per month, if you invest $795 and $1,000.
You can invest between $795 and $2,000 to receive a return of 4.5 percent per month for 24 months (5126.61 total ROI).
Investing $795 and $5,000 will return 5.5% per month for 24 months, or $16,125.50.
After 24 months, you will have a profit of $47,489.35, or 6.5% per month.
Invest $995 + $500 for a return of 5% per month for 24 months ($4821.52 total ROI).
A total return of $6823.56 is earned by investing $995 or $1000 for 24 months at 5.5 percent per month.
An investment of $995 plus $2,000 earned at 6% per month for 24 months yielded a return of $11,306.84.
A total return of $28,570.80 is earned by investing $995 and $5,000 for 24 months at 7% per month.
Invest $995 or $10,000 for 24 months at 8% per month and you’ll earn $66,620.78 in total.
Plans for more (invested after signing up on their own) I invested $500 and received 2.5 percent in monthly returns for 24 months, resulting in a total return of $904.36.
You would get $2032.79 if you invested $1,000 and received 3% back every month for 24 months.
You would get $516.61 if you invested $2,000 and got 4% back every month for 24 months.
A $5,000 investment returned $16,125.50, or 5% a month, over 24 months.
In other words, if you invested $10,000 and received 6% every month for 24 months, you would have made $40,489.35.
Affiliate investors are paid when they join Smart Business Corp.
Affiliates have eight rungs in Smart Business Corp’s compensation plan. You can join Smart Business Corp as a partner and invest money in it if you meet these qualifications: Join Smart Business Corp as a partner and invest money in it.
Make a $500 investment, find six executives who have already invested in another plan, and get a total of $60,000 in investments from your downline.
Make a $1,000 investment as well as retain the six smart executives you’ve hired (one of whom is a Master Junior) and have your downline make an investment of $120,000.
Master Trainer: Invest $5,000 of your own money in the business, hire nine Smart Executives (one Master Senior and one Master Junior), and get $500,000 from your downline.
By investing $10,000 of your own money and keeping nine smart executives in your downline (one Master Trainer, one Master Senior, and one Master Junior), you’ll make $1,000,000 from your downline.
If you put in $20,000 and find 12 smart executives (one master manager, one master trainer, one master senior, and one master junior), you can get a total of $2.5 million invested in your downline.
A total of $5,000,000 in investments are generated from my downline by investing $40,000. I keep 12 smart executives (one Master Elite, one Master Manager, one Master Trainer, and one Master Senior) that I personally recruited.
By investing $100,000, recruiting 15 Smart Executives (two Master Elites, one Master Manager, one Master Trainer, and one Master Senior), and getting a downline investment volume of $20,000, you would end up with a total of $40,000.
Passing the “Master Test” requires additional requirements ranging from “Basic 1” for Master Junior to “Advanced 3” for Master Platinum. It is unclear what a master test entails.
Every investment does not count 100% toward the required downline investment volume.
Based on the level of the uni-level team, Smart Business Corp reduced the number of investments. A team with a uni-level compensation structure has a top affiliate, followed by every affiliate they personally recruit (level 1):
When an affiliate on level 1 recruits new affiliates, those affiliates become part of the original affiliate’s unilevel team. In theory, affiliates who bring in new affiliates at level 2 move to level 3, and so on.
The amount of money invested for each level of the unilevel team is counted as 100 percent of a team’s rank and the amount invested for the level 1 and 2 is counted as 100 percent.
Ninety percent of all investments come from the uni-level team’s third and fourth levels.
Levels 5 and 6 of the multilevel team account for 80% of the investment volume.
Levels 7 and 8 contribute 30 percent of the unilevel team’s investment volume.
In addition to the $200 commission that Smart Business Corp. gives each affiliate that it signs up. Based on the data it appears there is no difference between top-tier and basic recruitment.
A commission of $450 will also be paid for every third affiliate Smart Business Corp gets.
This does not differ from paid and basic recruitment.
During a new Smart Business Corp affiliate’s first eighteen weeks, there is no limit on how much they can earn in recruitment commissions.
‘There are no more recruiting commissions after this period. No details are given.
Extra plan investments generate a residual fee. A residual commission program (unilevel group) has three tiers: a starting point (personally recruited affiliates). Affiliates in the top rungs of Smart Business Corp receive a monthly bonus called the Master Bonus. Affiliates in the second to third level get 3% to 2% of the total Master Bonus.
The Master Bonus is a monthly payment made to affiliates at the top of Smart Business Corp’s ranks.
I am a Master Junior, and I receive $500 each month.
I will receive $1,500 a month as a master senior.
I will receive $5,000 a month as a master trainer.
I receive $10,000 a month as a master manager.
My monthly income is $20,000, since I am a Master Elite. My monthly income is $45,000, since I am a Master Superior.
Become a Master Platinum and you’ll make $100,000 a month.
Affiliates of Smart Business Corp receive a $100 bonus for every five affiliates they bring into their uni-level team, regardless of whether they do it directly or indirectly.
The 5-1 Bonus seems to have something to do with the upline: If an affiliate gets a $100 5-1 Bonus, the affiliate who brought them into the business gets $300.
An affiliate who receives $300 in 5-1 bonuses receives $600 from the affiliate above them.
Bonuses such as the 5-1, including the part for uplines, seem to last indefinitely without limits.
Smart Business Corp offers a basic membership for $795 or a premium membership for $995.
At face value, these memberships require 24-month commitments. Affiliates of Smart Business Corp could make more money if they invest more.
It’s a good business. Conclusion
Smart Business Corp. carries on a variety of Ernesto Reséndiz’s Ponzi schemes. Smart Business Corp is attempting to get people to invest in bitcoin, so this is a different version from cryptocurrency fraud.
You’re done. That’s the only difference between Resendiz’s other Ponzi schemes.
Smart Fund Limited’s website is kept up because the company participates in Smart Business Corp’s Ponzi scheme: Affiliates put money into bitcoin, which is then sent to Smart Fund Limited, where it is used to pay for goods or trade with other traders.
Although it’s a bit more complicated than a typical Ponzi scheme, it still involves trading similar to MLM crypto scams. Smart Business Corp does not provide any proof that trading is taking place. Both Smart Business Corp and Ernesto Resendiz have not been approved to sell securities in Mexico or elsewhere.
As a result, Smart Business Corp is at least in violation of the security law.
If Ernesto Reséndiz makes the returns he promises investors after at least eleven years, he will undoubtedly be one of the wealthiest people in the world.
With cryptocurrency, he is instead running one of the newest versions of his many failed Ponzi schemes. According to a SimilarWeb analysis, investors in South America have fallen for it once again.
When affiliate recruitment stops, new money will no longer flow into MLM Ponzi schemes. Smart Business Corp will not be able to receive money from ROI, which will eventually lead to its demise.
When Ponzi schemes fail, most people who participated will lose money since they are based on math. It is unclear why the Mexican government has not yet taken action against Reséndiz. Mexico doesn’t have a lot of vague laws.
I know something fishy is going on if he has been scamming people for more than a decade without getting caught. When Smart Business Corp goes bankrupt (again), Reséndiz’s victims will be worse off than ever as he uses bitcoin.