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Smart Business Corp- Crook Review

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On its website, Smart Business Corp does not list firm ownership or executive information. According to additional research, Ernesto Reséndiz is credited as Smart Business Corp’s founder and CEO.

Resendiz indicates on LinkedIn that he is based in Mexico. This signifies that Smart Business Corp’s headquarters are in Mexico. Additionally, the company uses a Mexican domain. The internet domain of Smart Business Corp (“smartbusinesscorp.com.mx”) was initially registered in 2015.

The proprietor is listed as “Ernesto Resendiz Lopez,” with an incomplete address in Benito Juarez, Mexico.

The Wayback Machine reveals that the domain of Smart Business Corp’s website was redirected to “smartfundlimited.com.” This was the situation through at least November 2020.

I believe the current website of Smart Business Corp. was launched around the middle of 2021.

The Smart Fund Limited website’s footer notes, “This website is managed by SBC.”    1276 Kumul Hwy, 1st Flr Govant Bldg, Port Vila, Vanuatu is where SBC operates and/or delivers services.   

Clearly, Smart Business Corp. (SBC) has no ties to Vanuatu. Scammers are often responsible for registering shell corporations in scam-friendly jurisdictions in order to operate MLM businesses.

The earliest video on the official YouTube channel of Smart Business Corp is from March 2020. It illustrates the opening of SBC’s Mexico offices: “This indicates that Smart Business Corp has been operating under its own name since at least the beginning of 2020.”

Smart Fund Limited was an unsuccessful investment offer. Historically, SBC marketed itself as a broker: SBC was created in 1996 and is one of the industry’s largest and most reputable brokers. “We produce an enormous trading volume and offer great liquidity to various traders worldwide.”   

At first, I believed Smart Business Corp to be a relaunch of Smart Fund Limited. It turns out that it is a relaunch of a previously collapsed Ponzi scheme run by Resendiz.

IBF International solicited $410 in investments with the assurance of a perpetual ROI of $100 each month.

IBF International had South America in mind. It appears to have crashed for the first time in 2014, forcing Ecuadorian authorities to arrest inventor Ernesto Reséndiz on a promotional trip.

According to Ecuavisa in July 2014, in  Machala, a new case of enormous fraud has been reported.  The police arrested a Mexican national in the capital of Ourense on suspicion of involvement in a new huge Internet advertising scam. 

There are already thirty complaints from individuals who contributed between $250 and $410 as membership fees to enter the advertising industry but have not received their payments for the past two months.   

Separately, El Comercio stated that a foreigner claiming to be the director of IBF International explained to a group of individuals how “the largest and most profitable capitalization system without debt” operates.   

The putative director of the company, Ernesto L., age 42, was arrested in Machala, the capital of El Oro, on Thursday. The cops arrested him in an office after a group of individuals reported him for alleged nonpayment.   

The Second Court of Criminal Guarantees ordered his preventative detention for the offense of fraud on July 4. I was unable to locate any updates regarding Resendiz’s arrest.

This “debt elimination” Ponzi scheme has been operating in Mexico since at least 2011; as part of a nationwide tour, Ernesto Reséndiz López, director of Smart Business Corp, travelled to Zacatecas to demonstrate this new business model.   

In addition to receiving training on how to establish profitable businesses, members of this organization, which has already amassed a membership of 11,000 people around the country, provide financial assistance to one another.   

Although the concept of lending money to one another, obtaining training guidance, and earning profits among members is straightforward, he cautioned that putting it into practice is difficult.   

According to its founder, who was in a Fenaza room to give a conference, the innovative initiative that begins with avoiding debt and has been in operation for a year, has crossed boundaries and is now being implemented in other nations.   

Putting this information together, we have:  Resendiz establishes the Smart Business Corp Ponzi scheme in Mexico in 2010; Smart Business Corp fails, prompting Resendiz to establish IBF International; IBF International expands beyond Mexico and fails in mid-2014; and Resendiz establishes Smart Business Corp II around 2015. returns to Mexico at some point and launches the non-Ponzi trading platform Smart Fund Limited. Smart Fund Limited fails, prompting the relaunch of Smart Business Corp. 

Today, we’re going to examine the current version of Smart Business Corp. Continue reading for a detailed analysis of Smart Business Corp’s MLM opportunity. 

The Products of Smart Business Corporation: 

Smart Business Corporation offers no items or services for sale.  Affiliates may only market affiliate membership with Smart Business Corp.  Smart Business Corp. Compensation Plan Affiliates of Smart Business Corp invest USD equivalents in bitcoin.  This is done with the promise of a “compound ROI” paid monthly for twenty-four months. 

New Smart Business Corp affiliates can pick between two initial investment plans:  Simple-invest $795 and get 2% every month for 24 months (a total ROI of $1278.71).   

Premium-Invest $995 and receive 5% monthly interest for 24 months (a total ROI of $3,208.97). 

After selecting an additional investment plan, Smart Business Corporation provides “additional plans.”  The additional plans provided by Smart Business Corp depend on whether an affiliate initially invested in the Basic or Premium tier.

The additional plans can be purchased at sign up with an investment in the basic or premier tier, or subsequently on their own.

Invest $795 + $500 for a total ROI of $904.36 per month for 24 months.  

Invest $795 + $1000 and get 3.5% every month for 24 months (a total return of $2032.79).   

Invest $795 plus $2,000 for a monthly return of 4.5 percent over 24 months (5126.61 total ROI).  

$795 plus $5,000 and receive a monthly return of 5.5% for 24 months ($16,125.50 total return).   

For example, invest $795 plus $10,000 and receive a monthly return of 6.5% for 24 months ($47,489.35 total return). 

Invest $995 plus $500 for a monthly return of 5% for 24 months ($4821.52 total ROI).  

Invest $995 + $1000 to receive a monthly return of 5.5% for 24 months ($6823.56 total ROI).   

$995 plus $2,000 yielded a 6% monthly return for 24 months ($11,306.84 total ROI).

The $995 plus $5,000 investment produced a monthly return of 7% for 24 months ($28,570.80 total ROI).  

Invest $995 plus $10,000 to earn 8% each month for 24 months (a total return of $66,620.78). 

Additional Schemes (invested in after signing up on their own)  $500 yielded a monthly return of 2.5% for 24 months ($904.36 total ROI).

A $1000 investment yielded a monthly return of 3% for twenty-four months ($2032.79 total ROI).

A $2000 investment returned 4% per month for 24 months ($5126.61 total ROI).

A $5000 investment returned 5% each month for 24 months ($16,125.50 total ROI).

An investment of $10,000 yielded a monthly return of 6% for twenty-four months (a total ROI of $40,489.35). 

Smart Business Corp’s MLM division compensates for affiliate investor recruitment.

Positions of Smart Business Corp Affiliates In Smart Business Corp.’s pay structure, there are eight affiliate levels. In addition to their specific eligibility requirements, they are as follows:  Become an affiliate of Smart Business Corp and make an investment.   

Master Junior-personally invest $500, recruit six Smart Executives who have previously invested in another plan, and achieve a total downline investment volume of $60,000.   

I personally spend $1,000, retain six Smart Executives (one Master Junior), and produce a total downline investment volume of $120,000.   

Master Trainer-personally invest $5,000, recruit nine Smart Executives (one Master Senior and one Master Junior), and produce a total downline investment volume of $500,000.   

Personal Manager-Personally spend $10,000, retain nine smart executives personally recruited (one Master Trainer, one Master Senior, and one Master Junior), and produce a total downline investment volume of $1,000,000.  

Personal investment of $20,000; hiring of twelve Smart Executives (one Master Manager, one Master Trainer, one Master Senior, and one Master Junior); and $2.5 million in downline investment volume I invest $40,000 personally, maintain twelve personally recruited Smart Executives (one Master Elite, one Master Manager, one Master Trainer, and one Master Senior), and create a total downline investment volume of $5,000,000.   

Master Platinum-personally invest $100,000, recruit fifteen Smart Executives (two Master Elites, one Master Manager, one Master Trainer, and one Master Senior), and produce a total downline investment volume of $10,000,000. 

Additional “Master Test” eligibility requirements range from “Basic 1” for Master Junior to “Advanced 3” for Master Platinum. It is not defined what a Master Test is.

Note that the minimum downline investment volume is not counted in full for each investment. Smart Business Corporation decreased the counted investment volume depending on team unilevels.

A unilevel pay system positions an affiliate at the apex of a unilevel team, with each personally recruited affiliate positioned directly behind them (level 1):

Recruited level 1 affiliates 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 down an unlimited number of possible levels. Smart Business Corporation counts the investment amount over eight unilevel team levels for ranking purposes.

Levels 1 and 2 account for 100% of the volume of the unilevel squad.

Ninety percent of the team’s investment volume is attributed to levels three and four.

80 percent of the investment volume of the unilevel team’s levels 5 and 6 is considered.

30 percent of the investment volume from the unilevel team’s levels 7 and 8 is considered.

Smart Business Corp. offers a $200 per-affiliate commission. There appears to be little differentiation between entry-level and elite recruitment.

The reward plan of Smart Business Corp.- additionally includes an additional $450 commission for every three affiliates recruited.

Again, no distinction is made between standard and premium recruitment. There is no limit on recruitment commissions given out during the first eighteen weeks of a new Smart Business Corp affiliate. After this period, commissions on recruitment are capped. Specific details are not supplied.

Recurring Commissions: Smart Business Corporation pays residual commissions on plan additions.

On three recruitment levels (unilevel team), residual commissions are paid:  a starting point (personally recruited affiliates). levels of two to three gets 3% to 2% of the total  Master’s Bonus  Affiliates in the top ranks of Smart Business Corp receive a monthly bonus called the Master Bonus. 

I am eligible for Master Junior status and receive $500 each month.

I am eligible for Master Senior status and receive $1,500 per month.   

Acquire Master Trainer status and earn $5,000 per month.

I am a master manager who earns $10,000 per month. As a Master Elite, I receive $20,000 each month.

I am a Master Superior with a $45,000 monthly salary.   

Obtain Master Platinum status and receive $100,000 each month. 

A $100 bonus is offered for every five affiliates recruited directly or indirectly into a Smart Business Corp affiliate’s unilevel team.

The 5-1 Bonus looks to have an upline component:  If an affiliate earns a $100 5-1 bonus, the affiliate who recruited them will receive $300.

If an affiliate earns $300 in 5-1 bonuses, the affiliate’s upline will receive $600. 

The 5-1 benefit, including the upline component, appears to be an unlimited, everlasting bonus. 

Smart Business Corporation affiliate membership is either $795 for the Basic level or $995 for the Premium level.

These memberships need a 24-month commitment at face value. The more an affiliate of Smart Business Corp invests, the greater their earning potential.

Conclusion

Smart Business Corp is an extension of Ernesto Reséndiz’s multiple Ponzi scams. With the current version of Smart Business Corp seeking bitcoin investments, a move to cryptocurrency fraud has occurred.

That is all. This is literally the sole difference between Resendiz’s past Ponzi schemes and those of The website of Smart Fund Limited has been maintained because it is part of Smart Business Corp’s Ponzi scheme: Affiliates invest bitcoin – funds are transferred to Smart Fund Limited – unidentified traders – hooray Ponzi scheme!

Slightly more convoluted than the average Ponzi scheme, but still the standard “trading” gibberish we see in MLM crypto scams.

Naturally, Smart Business Corporation gives no proof of trade activity. Neither Smart Business Corporation nor Ernesto Resendiz are registered to sell securities in Mexico or anywhere else.

This indicates that Smart Business Corp has committed securities fraud at the very least.

Taking a step back, it should be evident that Ernesto Reséndiz would be among the world’s wealthiest individuals if he could provide the returns he promises investors for at least eleven years.

Instead, he is promoting the most recent cryptocurrency iteration of his several failed Ponzi schemes. And according to SimilarWeb’s traffic analysis, South American investors are falling for it once more.

As with all MLM Ponzi schemes, once affiliate recruitment dries up, so will new investment. This will deprive Smart Business Corp. of ROI revenue, causing its eventual demise.

The mathematics underlying Ponzi schemes guarantees that the majority of participants will lose money upon their collapse.

I am unable to comment on why Mexican authorities have not yet taken action against Reséndiz. In terms of regulation, Mexico is not the most opaque jurisdiction in the world.

If he has been defrauding people for over a decade without consequence, there is obviously something fishy going on.

When Smart Business Corp implodes, Reséndiz’s victims will be worse off than ever, thanks to bitcoin (again).

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Meta Utopia- Crook Review

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A few days ago, we put out its review of Meta Utopia.

“Metaverse” MLM crypto Ponzi scheme that isn’t very interesting on its own.

As part of our research, we found a link between Nicholas Coppola and the man who started the Ponzi scheme.

Or rather, he did it through an Instagram story that has since been deleted:

Coppola wasn’t happy about being linked to Meta Utopia in public, it turns out. He only wants to hide the fact that he is a crypto-bro Ponzi scammer.

Today, Nicholas Coppola joins the DMCA Wall of Shame.

Over the past 24 hours, “Dincer Odabasi” from “Copyright Support” has sent us two emails. Nicholas Coppola’s emails were sent on his behalf.

Copyright Support says on its poorly made website that it will

Negative or damaging news that can be found on the Internet and in Google search results should be taken down for good.

In his first email, Odabasi tries to pull the old “right to be forgotten” scam.

“Dear Madam,

Because of the right to be forgotten and because of the privacy clause, we want the content to be blocked.

We tried to get in touch with the website that posted the content, but we didn’t hear back. So, we give you the content and ask you to turn it off.

As everyone knows, according to the first paragraph of Article 9 of Law No. 5651 on the Regulation of Broadcasts Made on the Internet and Combating Crimes Committed Through These Broadcasts, if they can’t get to it, they can send a warning to the hosting provider and ask that the content be taken down.

Again, the second paragraph of the same article says that “the content and/or hosting provider must respond to requests from people who say their personal rights have been violated by the content of an online broadcast within twenty-four hours at the latest.”

We want the case that was filed on our behalf to be taken care of. Because of the European right to be forgotten and the privacy of private life, we have the right to limit access to content.

Please note that we’re asking you to take down the content because we’ve tried to reach the owner but haven’t heard back. That’s why we want and need you to take it down.”

This is a form letter that con artists send out. I know that because Odabasi put the same notice to Amazon from another email about a different website and client (ruhroh GDPR fail) into the body of the email he sent me.

In any case, the “Right to be Forgotten” law in Europe is used by scammers to hide their pasts, no matter how good the lawmakers’ intentions may have been at first.

The Right to be Forgotten is not part of EU law, so we don’t recognise it. Also, it takes four days from the date of publication until a right-to-be-forgotten takedown notice is sent.

Odabasi went on to say that Turkish law had something to do with the US, which was not true.

Due to the Right to be Forgotten and the USA Legal Content Removal Request Pursuant to Law No. 5651, we can’t take down the content we told you about because it’s in the Constitution.

“The Right to be Forgotten and the USA Legal Content Removal Request” is not a thing, even if that sentence makes no sense. It’s not true at all.

Turkey passed Law No. 5651 in the year 2020. It only happens in Turkey and has nothing to do with the United States.

Odabasi sent another email a few hours after the first one. This time, he threatened to take action because of copyright issues.

“We want you to remove any content that reveals personal information about our representative.

If you don’t get rid of the news content, we will file a copyright claim with your hosting company, Google.

I’d like you to put the story away, please.

Regards, 
TEAM OF SUPPORT FOR COPYRIGHT”

As our Policy says, we often use “third-party logos and images,” which is allowed by US copyright law through “fair use.”

We don’t need permission from the people who own the rights to the images we use in our MLM news and reviews. Period. 

The DMCA takedown process is being abused when fair use isn’t taken into account and a fake DMCA is filed. Not only will it not work, but the person who submitted it is lying.

Even though it’s clear that Copyright Support doesn’t care about the law, it’s still important to point out their hypocrisy.

Scam businesses like Copyright Support depend on the fact that the publisher or service provider they are after doesn’t know what they are doing.

Nicholas Coppola has publicly linked himself to Meta Utopia and is involved enough to be close to the Ponzi scheme’s founder, who has not yet been named.

It is not against any US law to publish this information with proof attached.

Update, July 2, 2022: Dincer Odabasi is now committing twice as much DMCA fraud as he was before.

Odabasi sent Google a “court order” on June 28 that says the same thing: “It’s against the law to search for scammers!” Stupid, but it also says this:

Based on the privacy clause of private life and the court document we will send you, we want the content to be taken down from publication and blocked from access.”

Odabasi is saying that a Turkish law is a “court document” that keeps scammers from telling the rest of the world. Oh dear.

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Laetitude- Crook Review

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Investors such as Laetitutde and Swapoo are circumspect on issues affecting investor wallets and active investments. 

According to a Latitude News report dated August 13th, You have gotten one or two emails from Swapoo in the past several days, which also affects our Laetitude members. 

Due to the continued strong relationship between Swapoo and Laetitude, we can guarantee that these changes will not affect your Laetitude accounts. Latitude will continue to operate as usual.   

The alterations made by Swapoo will have an effect on the wallet and the bots. However, we are aware that wherever there are obstacles and closed doors, new doors will emerge to provide opportunities for greater success. 

Swapoo is merely adjusting to the ever-changing regulatory environment and market situations.

The details of the e-mails sent are kept confidential. I have not encountered any examples in nature. 

Regarding “evolving regulatory landscapes,” Laetitude is a Ponzi scheme operated by Swapoo. 

David El Dib operates Laetitude from Dubai, the center of MLM fraud. Swapoo is run by Dave Martin, who is from the Philippines.El Dib and Martin have both established themselves on the BitClub Network. 

The investigation by the Department of Justice found BitClub Network to be a $722 million Ponzi scheme. The founders of BitClub Network were arrested in 2019. 

El Dib and Martin commit securities fraud and operate their own Ponzi scheme through Laetitude and Swapoo. The regulation of securities is not novel. For decades, every nation with a financial market has regulated securities fraud. 

The Ponzi fraud announced a remedy for lost Swapoo wallets in a follow-up “Laetitude News” post dated August 26;  

As you are likely aware, Laetitude no longer utilizes Swapoo for secure wallet services. As a result, we have recently implemented the ability to fund, purchase, and withdraw directly within Laetitude. 

In light of this, we would like to encourage you to login and withdraw your balance as soon as possible, and to continue withdrawing your balance as your compensation earnings increase. 

Laetitude lacks the two-factor authentication security offered by Swapoo, so it is essential that you protect your account with a formidable password. Again, what is occurring behind the scenes is kept secret. 

The only clue I could locate was a query posted two weeks ago on Swapoo’s most recent Instagram post. 

Swapoo has not published any new social media updates since July 30. This date also marked the last Facebook update posted by Laetitude. 

The lack of visitors to both Laetitude and Swapoo suggests that the Ponzi scheme is running out of money to pay investment withdrawals. 

The Philippine Securities and Exchange Commission is one of the most active securities regulators worldwide.

It is unclear whether they have anything to do with Swapoo’s issues.  

Whatever else is occurring, it is rare for wallets to be abruptly shut off and placed up as unsecured in-house assets. 

Keep up to date on any future developments.

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GSPartners- Crook Review

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GSPartners has dropped its claim of harassment against Chris Saunders. Saunders is the owner and operator of the YouTube channel Grit Grind Gold, which he uses to critique and report on the GSPartners Ponzi scheme. 

In late January 2021, Saunders was sued for harassment by owner Josip Heit and promoters Michael Dalcoe and Antonio (Tony) Euclides Menesis De Gouveia. 

Heit and the GSPartners Plaintiffs alleged that Sunders’ videos about the Ponzi scheme were defamatory. 

Additionally, Heit took offense when Saunders pointed out his position in Karatbars International’s collapsed KBC Ponzi scheme.  

GSB Gold Standard Corporation AG, Josip Heit, Michael Dalcoe, and Tony De Gouveia submitted a dismissal stipulation on July 29.  

Christopher Saunders, the defendant, executed a declaration in connection with the aforementioned case on July 29, 2022. 

Plaintiffs GSB Gold Standard Corporation AG, Josip Heit, Antonio Euclides Menesis De Gouveia, and Michael Dalcoe, by counsel and with the signature and agreement of counsel for Defendant Christopher Saunders, stipulate to the dismissal without prejudice of all claims in this matter pursuant to the Saunders’ Declaration.

The aforementioned stipulation from Saunders proves that he was granted permission. 

Mr. Ovidu Toma in relation to the Plaintiffs’ assertions and declarations. Since January 2020, Mr. Ovidu Toma has provided me with evidence of Mr. Harald Seiz’s alleged involvement in Karatbars’ wrongful conduct.   

“Ovidu Toma” refers to Ovidiu Toma, the former Chief Technology Officer of Karatbars International. 

Today, Toma serves as the CEO of CryptoData. Romania-based CryptoData sells encryption hardware. 

To return to Saunder’s assertion: I was aware, based on first-hand knowledge of facts and documents, that any alleged wrongdoing committed by Karatbars in relation to its Miami crypto bank and the issuance of KBC/KBC tokens was committed by Karatbars’ CEO, Mr. Harald Seiz, and that said wrongdoing was committed prior to any affiliation between Karatbars and GSB/Mr. Heit.

This is an odd concession to provide. Heit was the public face of Karatbars’ initial excursion into crypto-asset fraud. In an April 2019 interview, Seiz is referred to as a “major investor and board member” of Karatbars International. In Dubai, Karatbars was selling a “blockchain phone” at the time. When challenged about his remarks on the occasion, he responded, and I quote, ” You mentioned the KBC coin.

You stated that it is probable that it is one kilogram of gold. Is this truly a possibility? Heit reacted. Yes, of course it’s feasible. Nobody believes that many individuals perceive, at the appropriate moment, that they can join us.  

We currently have a market valuation of approximately $300 million as of the previous week or two weeks. And now there are about a billion of us.   

Is it not yet understood?  

And when the mainnet is implemented, which will occur very soon, within a few months we will have a market capitalization of over $200 billion. After months of Heit and Seiz promoting Karatbars’ KBC, the KBC Ponzi coin dropped 62% following the hype event on July 4, 2019. 

Heit, not Harald Seiz, was sent to address and explain the collapse to irate investors. KBC continued to leak throughout the subsequent months until it was eventually abandoned.

Heit had cashed out, left Karatbars, and launched his own Ponzi offshoot, GSPartners, before the end of 2019. The GSPartners Ponzi coins have performed no better than those of KBC.

G999 is supported by wash trading, which I believe is steadily depleting GSPartners’ second Ponzi scheme, LYS. G999 is being washed at approximately 0.002413. At $66.78, LYS continues to drain. 

GEUR was launched earlier this month as a result of the continuous failure of G999 and LYS to take off. GSPartners and Heit symbolize the euro-pegged GEUR currency. It is thought that GEUR was developed because GSPartners investors no longer desired to hold G999 and LYS. 

GEUR does not exist outside of GSPartners as of the publication date. GSPartners uses GEUR to support its most recent 300% ROI Ponzi scheme, metaverse certificates. 

In the event that GSPartners and Saunders achieved a settlement, it has not been made public. Other than wrongly saying that Heit was not involved in the Karatbars KBC scam, Saunders has not recanted any of his GSPartners-related statements.  

The court authorized the GSPartners plaintiff’s Stipulation of Dismissal on August 2nd. This concludes GSPartner’s harassment lawsuit against Saunders.

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