OakSmart Review: Boris CEO crypto Ponzi
OakSmart fails to provide ownership or executive information on its website.
OakSmart operates from two known website domains:
- oaksmart.com – first registered in 2017, private registration last updated on July 7th, 2024
- oaksmart.pro – privately registered on September 13th, 2024
In an attempt to appear legitimate, OakSmart represents it has an MSB license through FinCen.
FinCen isn’t a financial regulator and anyone can register a shell company with it. Due to this, registration of a shell company with FinCen is meaningless.
Pursuant to its false representations, California’s Department of Financial Protection and Innovation issued OakSmart with a securities fraud desist and refrain order on December 2nd, 2024.
While OakSmart’s website does provide a “CEO’s speech”…
…no actual CEO is named.
Over on YouTube, OakSmart’s initial marketing videos feature stock footage dubbed over with an… interesting accent.
In June 2024 OakSmart uploaded dubbed over footage of a Zoom call;
The video itself isn’t of interest outside of several attendees having Russian names.
“TR”, the guy hosting the call, would make his solo debut appearance on OakSmart’s channel on October 8th.
TR cites himself as OakSmart’s Chief Marketing Officer (CMO).
TR is from Canada and, prior to 2019, worked at and/or attended Cestar College – Syn Studio in Montreal, Quebec (Canada).
In or around 2019 TR moved to Thailand and began attending a wellness retreat in Chiang Mai.
In a testimonial for the retreat TR, or Tristan, stated;
After years of living abroad, exploring my inner self and the World around, I finally feel I have a purpose. What is important to me is clear.
Yet, I am still stuck.
I am now living in Chiangmai, Thailand.
As I explore my life through the lens of movement, I sought to connect with the movement community.
It seems sometime after 2019, Tristan’s “journey” led him to fronting dodgy MLM investment schemes.
If we look at OakSmart’s website source-code, we find Chinese:
Putting all of this together, OakSmart appears to be run by Russian and Chinese scammers operating out of Thailand.
Thailand’s recent growing Russian population has attracted media attention. While it’s certainly within proximity of China, it’s more likely OakSmart’s Chinese scammers are operating from Vietnam.
As of October 2024, SimilarWeb tracked top sources of OakSmart’s website traffic as Vietnam (76%) and the US (24%).
OakSmart doesn’t appear to have any actual connections to the US but it is being promoted there.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
OakSmart’s Products
OakSmart has no retailable products or services.
Affiliates are only able to market OakSmart affiliate membership itself.
OakSmart’s Compensation Plan
OakSmart affiliates invest USD equivalents in cryptocurrency.
This is done on the promise of advertised passive returns:
- Crypto Assets – invest $500 to $200,000 and receive 8% to 15% a month
- USD Assets – invest $10 to $200,000 and receive 15% to 30% a month
The MLM side of OakSmart pays on recruitment of affiliate investors.
OakSmart Affiliate Ranks
There are eight affiliate ranks within OakSmart’s compensation plan.
Along with their respective qualification criteria, they are as follows:
- Grade1 – invest $500 or more and generate $50,000 in downline investment volume
- Grade2 – invest $1000 or more and generate $120,000 in downline investment volume
- Grade3 – invest $3000 or more and generate $300,000 in downline investment volume
- Grade4 – invest $10,000 or more and generate $750,000 in downline investment volume
- Grade5 – invest $20,000 or more and generate $1,800,000 in downline investment volume
- Grade6 – invest $50,000 or more and generate $4,500,000 in downline investment volume
- Grade7 – invest $100,000 or more and generate $9,500,000 in downline investment volume
- Grade8 – invest $200,000 or more and generate $20,000,000 in downline investment volume
Referral Commissions
OakSmart pays a 5% referral commission on cryptocurrency invested by recruited affiliates.
Matching Bonus
OakSmart pays a 50% Matching Bonus on returns paid to personally recruited affiliates.
Leading Bonus
The Leading Bonus pays a percentage of total earnings paid to downline affiliates.
- Grade1 ranked affiliates earn a 5% Leading Bonus
- Grade2 ranked affiliates earn a 10% Leading Bonus
- Grade3 ranked affiliates earn a 15% Leading Bonus
- Grade4 ranked affiliates earn a 20% Leading Bonus
- Grade5 ranked affiliates earn a 25% Leading Bonus
- Grade6 ranked affiliates earn a 30% Leading Bonus
- Grade7 ranked affiliates earn a 35% Leading Bonus
- Grade8 ranked affiliates earn a 40% Leading Bonus
Note OakSmart affiliates don’t earn the Leading Bonus on higher ranked downline affiliates.
Global Bonus
OakSmart takes 5% of company-wide investment and splits it into smaller rank-corresponding bonus pools.
These pools are paid out daily to rank qualified OakSmart affiliates.
Joining OakSmart
OakSmart affiliate membership is free.
Full participation in the attached income opportunity requires a minimum $500 investment.
OakSmart solicits investment in various cryptocurrencies.
OakSmart Conclusion
OakSmart represents it generates external revenue via “unique trading strategies”.
We provide financial services using advanced technology and innovation in global markets, based on unique trading strategies.
No verifiable evidence of OakSmart generating external revenue of any kind is provided.
Furthermore, OakSmart’s business model fails the Ponzi logic test.
If OakSmart already has “unique trading strategies” generating up to 30% a month, what do they need your money for?
On the regulatory front, OakSmart’s passive returns investment scheme is a securities offering. Certain jurisdictions also require OakSmart to register to trade commodities.
OakSmart fails to provide evidence it has registered with financial regulators in any jurisdiction.
As it stands, the only verifiable source of revenue entering OakSmart is new investment. Using new investment to pay ROI withdrawals would make OakSmart a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve OakSmart of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
Update 11th December 2024 – OakSmart has initiated an Oak Coin exit-scam.