Smart Business Corp: Ernesto Resendiz Legit? [2023 Reviews]

There have been various reviews and claims of Smart Business Corp (an investment company) being a scam. We decided to do a little digging to determine if it is a typical ponzi scheme or if the said company is legit.

In this review, we will cover what Smart Business Corp is, what it entails and if you can really make as much money as they claim. At the end I will answer some frequently asked questions and give the final verdict.

Before I start…

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Smart Business Corp Review

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What is Smart Business Corp?

Smart Business Corp is a business corporation that has been delivering investment services to many clients worldwide. The company claims that its aim is to assist in the growing and profiting of its partners while providing programs, training and the distribution of vital educational and investment tools.

Smart Business Corp logo

It is currently situated in Vanuatu and the business center can be easily contacted using your phone, email or via the company’s website chat application.

Direct selling professionals have apparently rated this to be a serious company based on their experience as a user of the provided services and opportunity. However, these reviews seem fake as there have been many complaints of the company being a scam.

Furthermore, there is no proof of regulation making it an unregulated broker which is a huge red flag as investing with fraudulent brokers is high risk and often leads to loss of money.

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Who founded Smart Business Corp?

The Smart Business Corp website does not give any information on the founders or the admin of the website.

After conducting further research, it is revealed that Ernesto Reséndiz is the founder of Smart Business Corp and current CEO.

Ernesto Resendiz

Ernesto’s linked in profile shows that he is based in Mexico. Coincidentally, the company also has a Mexican Domain.

From my research, I discovered that Ernesto first launched Smart Business corp in 2010 in the ruse of ‘debt elimination’.

This was how the company was supposed to work; members come together to give each other financial support while being given training to create productive businesses in order to help eliminate debt and grow financially.

The company grew for a year and gained 11,000 affiliate members nationwide and crossed borders to be applied in other countries. This was all right before its collapse.

After his company crashed, Resendiz went ahead and started another company in its place; IBF International. IBF International had people investing $410 on the promise of a perpetual $100 a month ROI.

The new company expanded beyond Mexico and further into South America, before its collapse in mid 2014. This led to the arrest of Ernesto Resendiz during his promo tour by Ecuadorian authorities.

This is what Ecuavisa reported in July 2014:

A new case of massive fraud has been registered in Machala. The police arrested a Mexican citizen in the capital of Ourense for allegedly being involved in the new massive scam, through the internet advertising system.

So far, there have been 30 complaints from people who deposited between 250 and 410 dollars as a membership to enter the advertising business, but who have not received their payments for two months.

Another report from El Commercio reveals that Ernesto was explaining to an audience how ‘the largest and most lucrative capitalization system without debt’ works when he was arrested on a Thursday in Machala, capital of El Oro.

He had been apprehended after a group of members reported him for failure to pay. The Second Court of Criminal Guarantees then ordered his preventive detention for the crime of fraud on the 4th of July. From there, the case following his arrest goes cold.

Later on, Ernesto goes back to Mexico and starts a trading platform, Smart Fund Limited. Though the company claimed to be one of the largest and most highly respected brokers in the industry and to generate massive trading volume and provide high liquidity to numerous traders around the world, it did not deliver.

Following the failure of this trading company, Smart Business corp was relaunched alongside Smart Fund Limited in hopes of reviving the trading platform.

Smart Business Corp’s website domain smartbusinesscorp.com.mx was first registered in 2015. The website redirected to smartfundlimited.com with an incomplete address in Benito Juarez, Mexico.

This was the case until November 2020 when Smart Business Corp’s current website went live around mid 2021. The current website now gives this address; 1276 Kumul Hwy, 1st Flr Govant Bldg, Port Vila, Vanuatu.

Smart Business Corp (SBC) does not seem to have any ties to Vanuatu. Registering shell companies in scam-friendly jurisdictions that do not have strict financial regulators to run MLM companies through is something that many ponzi schemes do to avoid detection.

Smart Business Corp opened an official YouTube channel whose first video is dated back to March 2020. It shows the opening of SBC’s offices in Mexico:

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The products/services does Smart Business Corp offers

Smart Business Corp has no products or services.

The company however offers various investment plans for those who wish to join.

There are two investment pans to choose from, which each have additional investment plans. Smart Business Corp’s additional plans are offered based on which initial investment plan the affiliate chose.

The additional plans can be invested in at signup with either of the two initial investments or later on their own.

The two investment tiers are:

Basic Tier

With this plan, you get to invest $795 and receive 2% a month for 24 months i.e. $1278.71 total ROI

The additional plans that come with this tier are:

  • invest $795 + $500 and receive 3% a month for 24 months that is $904.36 total ROI
  • invest $795 + $1000 and receive 3.5% a month for 24 months that is $2032.79 total ROI
  • invest $795 + $2000 and receive 4.5% a month for 24 months that is 5126.61 total ROI
  • invest $795 + $5000 and receive 5.5% a month for 24 months that is $16,125.50 total ROI
  • invest $795 + $10,000 and receive 6.5% a month for 24 months that is $47,489.35 total ROI

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Premium tier

In this tier, you invest $995 and receive 5% a month for 24 months i.e. $3208.97 total ROI.

The additional plans that come with it are:

  • invest $995 + $500 and receive 5% a month for 24 months that is $4821.52 total ROI
  • invest $995 + $1000 and receive 5.5% a month for 24 months that is $6823.56 total ROI
  • invest $995 + $2000 and receive 6% a month for 24 months that is $11,306.84 total ROI
  • invest $995 + $5000 and receive 7% a month for 24 months that is $28,570.80 total ROI
  • invest $995 + $10,000 and receive 8% a month for 24 months that is $66,620.78 total ROI

You can apply for the additional plans only and invest money after sign up.

They include;

  • invest $500 and receive 2.5% a month for 24 months that is$904.36 total ROI
  • invest $1000 and receive 3% a month for 24 months that is $2032.79 total ROI
  • invest $2000 and receive 4% a month for 24 months that is $5126.61 total ROI
  • invest $5000 and receive 5% a month for 24 months that is $16,125.50 total ROI
  • invest $10,000 and receive 6% a month for 24 months that is $40,489.35 total ROI

Smart business corp also offers an affiliate program, where those who register as affiliate investors get paid on recruitment of new clients

Affiliate members are only able to market Smart Business Corp affiliate membership itself.

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How to make money with Smart Business Corp

The are two ways to make money with Smart Business Corp:

  • Investing in one of their investment plans to et the promised ROI
  • Becoming an affiliate member and getting paid for recruitment and in commissions according to sales on your downline.

However, investing money with the company to get the promised ROI is not the most lucrative way which means to get any real money, you must become an affiliate member.

There are eight affiliate ranks offered within the Smart Business Corp’s compensation plan, each with different qualification criteria.

They are as follows:

  • Smart Executive – sign up as a Smart Business Corp affiliate and begin investing
  • Master Junior – invest $500, recruit six Smart Executives who have invested in an additional plan and generate $60,000 in total downline investment volume
  • Master Senior – invest $1000, maintain six personally recruited Smart Executives (one should be a Master Junior) and generate $120,000 in total downline investment volume
  • Master Trainer – invest $5000, recruit nine Smart Executives (one should be a Master Senior and another a Master Junior) and generate $500,000 in total downline investment volume
  • Master Manager – invest $10,000, maintain nine personally recruited Smart Executives (one should be a Master Trainer, another a Master Senior and another a Master Junior) and generate $1,000,000 in total downline investment volume
  • Master Elite – invest $20,000, recruit twelve Smart Executives (one should be a Master Manager, another a Master Trainer, another a Master Senior and one Master Junior) and generate $2,500,000 in total downline investment volume
  • Master Superior – invest $40,000, maintain twelve personally recruited Smart Executives (one should be a Master Elite, another a Master Manager, another a Master Trainer and another a Master Senior) and generate $5,000,000 in total downline investment volume
  • Master Platinum – invest $100,000, recruit fifteen Smart Executives ( there should be two Master Elites, one Master Manager. one Master Trainer and one Master Senior) and generate $10,000,000 in total downline investment volume

There is an additional Master Test mentioned for the qualification criteria and it ranges from Basic 1 at Master Junior to Advanced 3 at Master Platinum. However, it has not been mentioned what exactly is a Master test.

It is important to note that the required downline investment volume isn’t counted 100% for every investment.

The Smart Business Corp compensation plan contains a unilevel compensation structure and has reduced counted investment volume based on unilevel team levels.

A unilevel compensation structure usually places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them forming the first level:

 Unilevel compensation structure.

Whenever any level one affiliates recruit new affiliates, they are placed on level two of the original affiliate’s unilevel team.

Whenever any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down an infinite number of unilevel teams. For rank qualification, Smart business corp caps it at eight unilevel teams.

This is how the investment volume is counted in the various levels;

  • investment volume from levels 1 and 2 of the unilevel team- counted at 100%
  • investment volume from levels 3 and 4 of the unilevel team- counted at 90%
  • investment volume from levels 5 and 6 of the unilevel team- counted at 80%
  • investment volume from levels 7 and 8 of the unilevel team- counted at 30%

Smart business corp also offers the following commissions and bonuses for its affiliates:

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Recruitment Commissions

Smart Business Corp pays a $200 commission to affiliate members for every new affiliate recruited. There is no clear distinction between basic and premier tier recruitment.

Is it legit?

Furthermore, the smart Business Corp compensation plan shows an additional $450 commission for every three affiliates that you recruit. Once again, there is no distinction between basic and premium recruitment that has been made.

The company’s compensation plan shows no cap on recruitment commissions paid out for a new Smart Business Corp affiliates’ first eighteen weeks.

After this period, the recruitment commissions are capped. There are no further details provided on the recruitment commissions.

Residual Commissions

The Smart Business Corp compensation plan also shows payment of residual commissions on additional plan investments just like we’ve seen with other MLMs like NortheStar and World Crypto Life.

The residual commissions are paid down three levels of recruitment per unilevel team:

  • level 1 ( for personally recruited affiliates) – 5%
  • level 2 – 3%
  • level 3 – 2%

Master Bonus

The master bonus is basically a monthly bonus paid to different ranks of the Smart Business Corp affiliates.

They are as follows:

  • If you qualify at Master Junior, you receive $500 a month
  • If you qualify at Master Senior. you receive $1500 a month
  • If you qualify at Master Trainer, you receive $5000 a month
  • If you qualify at Master Manager, you receive $10,000 a month
  • If you qualify at Master Elite. you receive $20,000 a month
  • If you qualify at Master Superior, you receive $45,000 a month
  • If you qualify at Master Platinum. you receive $100,000 a month

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5-1 Bonus

With the 5-1 bonus, for every five affiliates directly or indirectly recruited into a Smart Business Corp affiliate member’s unilevel team, they are paid a $100 bonus.

To add to that, there is an upline component contained in the 5-1 Bonus:

  • Once an affiliate receives a $100 5-1 Bonus, the affiliate who recruited them will receive $300
  • Once an affiliate receives $300 in 5-1 Bonuses, the affiliate who recruited them will receives$600

This 5-1 Bonus, even with the upline component, seems to be an endless bonus with no limitations.

How to join Smart Business Corp

To join Smart Business Corp and acquire an affiliate membership, you must be recommended by one of the company’s affiliate members.

They will guide you to becoming a member and through your first investment; that is after you have chosen your desired investment plan.

The two investment plans will cost you either $795 or $995 depending on whether you choose Basic or Premium (respectively)

These Smart Business Corp memberships are tied to a face-value 24 month investment.

The more a Smart Business Corp affiliate member invests and recruits, the higher their income potential.

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Smart Business Corp reviews

Smart Business Corp has earned a bad reputation due to all the negative reviews it has received, claiming that the company is a scam.

Many of the positive reviews seem to be from affiliate members of the company who are looking to promote the company and thus cannot be trusted.

Here is what some people have to say:

I have been working in this company and what I have seen is that it looks like a broker or pretends to be a broker that says that it trades with money from its clients but in reality they pay with money from new clients and not with trading profits (They do not trade) and from within we all know that they do not have any regulations that protect investors if not the opposite. They follow the same pattern that all pyramid schemes that are fraud end up stealing your money…

-Leornado

Smart business corp is a ponzi scam and it makes me very sad because it is going to leave many victims without their hard earned money. The returns it offers are paid from new customers!!!!! GREAT CARE!!! Do not fall into ignorance please. There are no miracle formulas, but what there is is corruption and bullies who take advantage of the needs of others. MEXICO Don’t fall for this scam!

-Mariana Portillo

Investigating a little about the company, it seems that this company was registered in Vanuatu for 2011, however, it removes its registration for November 2014. Subsequently, the company reopens with a new name for January 26, 2020. That said, if the company reopened its activities for January 2020, few have been able to obtain the returns obtained from these “magic” investments, since in order to withdraw the returns from your investment, a period of 2 years is requested (it is possible do it in 1 year but with a commission of 14%) and this surprises me because there are people who assure that they have not had a problem withdrawing their money. Something does not add up, and it is very sad that many adult people are easily hooked on this type of business.

-L

Hi LUIS, I am sorry to say that I did believe the SBC story and now that I am requesting my withdrawal they tell me that they will not return it to me and that I have to get someone with the same amount that I claim, otherwise they will not be able to pay what I ask, it seems to me that it is true what the recommended brokers say about SBC, I want my money now and this is not going to stay that way …

-Jason Valdez

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Frequently Asked Questions (FAQs)

Is Smart Business Corp a regulated broker?

No it is not. The company does not offer any proof of regulation and this is quite alarming and shows that it is basically a scam.

Is Smart Business Corp a reliable company?

No it is not a reliable training course. The founder has been arrested before for not paying his members and it does not show any proof of financial regulations.

Exercise extreme caution when investing in companies that use complex instruments because they pose a high risk of loss of money.

How Do i close my account with Smart Business Corp?

If you have discovered that you might lose money with the company and you wish to close your account, you will have to write an email indicating your request to the company support email.

How do I claim my money from smart business Corp?

If you have been scammed and wish to recover your money back from this company, you could use a capital recovery service.

This service uses the chargeback method or capital withdrawal. This method includes asking the bank Visa, or Mastercard (depending on how you sent the money), to return your capital, since you have been scammed.

In order to recover it, you have to prove that you have truly been scammed.

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Pros of Smart Business Corp

  • Offers its clients a chance at debt elimination
  • Claims to provide financial education for its members.

Cons of Smart Business Corp

  • The founder of the company, Ernesto Resendiz, was the founder of two other failed ponzi schemes and has been arrested before for not paying his members.
  • The company does not provide any documents to show proof of regulation and is registered in a scam-friendly jurisdiction
  • Its main source of income seems to be from new investments from recruits and this is quite similar to a pyramid scheme
  • Smart Business Corp has a bad reputation and has received a number of negative reviews.
  • It has a complex compensation plan.

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Is Smart Business Corp Legit?

Smart Business Corp is not a legit investment company and financial training course.

First of all, Ernesto Resendiz, the CEO and founder of the company, is infamous because of his ponzi schemes: IBF International and Smart Fund Limited.

To add to that, there is no proof of financial regulation provided on the company’s website which means that it is an unregulated broker. These are often high risk platforms and investors are warned to stay away.

The company is mostly dependent on its affiliate program and this is a huge red flag as it is basically how pyramid schemes function. Such companies often collapse after a short period of time as they eventually run out of new investments.

In conclusion, I would advise keeping your money away from companies such as Smart Business Corp because you will just end up losing money at the end of it all.

Before you leave

If you’re tired of scams and want a real solution for making money online check out my no.1 recommendation.

It’s helped me earn over $300,000 in the last 12 months alone:

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David Fortune has been the editor NoBSIMReviews.com since 2019. He is an expert at writing content on stock advisory services, side hustles, reviewing online business opportunities and many more topics. You can learn more about David on our about us page.

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