A web of high-yield promises, lavish events, and speeches about 'financial freedom' has resulted in what many affected individuals describe as a massive fraud linked to Smart Plus, also known as Smart Business Corp. The allegations point to an unauthorized scheme in Mexico that would have attracted resources from thousands of people. 'I lost the severance pay for 38 years of work... I haven't recovered my investment,' one of the affected investors recounted. Another testimony states: 'We invested all our savings with promises of 8% monthly... they never returned the principal or interest.'
Authorities warned of lack of authorization
Since February 10, 2022, the National Commission for the Protection and Defense of Users of Financial Services (Condusef) warned that Smart Business Corp did not have authorization or supervision to offer investments in the country. The agency called on the public to verify in the System of Record of Financial Service Providers (SIPRES) before entrusting resources to this type of platform.
Promises of high returns
According to testimonies from affected individuals who claim to have been deceived and who have reached this medium of communication, the company offered investment schemes with high returns, which in some cases reached up to 8% monthly, in addition to promises of financial independence. On its site, the company presented itself as a financial education platform that sought to 'transform lives' and generate income without depending on personal effort.
Complaints about million-dollar losses
People who say they have been affected report losses ranging from tens of thousands to millions of pesos, including life savings and severance payments. Some indicate that after stopping receiving payments, the company would have implemented alternative mechanisms such as the use of its own cryptocurrencies or internal schemes to simulate returns. There are also reports of delays in withdrawals and changes in payment terms without prior notice.
Possible Ponzi scheme indicated
Specialists warn that these types of models operate by using the money of new investors to pay the earlier ones, without generating real returns. This mechanism, known as a Ponzi scheme, has been identified in various financial frauds at the international level.
Call to verify before investing
Financial authorities reiterate the importance of verifying that companies are properly registered and authorized before investing. The case of Smart Plus, led by Ernesto Reséndiz, adds to other schemes that have generated significant losses for investors, in a context where promises of high returns continue to be one of the main focuses of risk for the public.
