Quintessential Business Network Review: QBN staking Ponzi
Quintessential Business Network (QBN), fails to provide ownership or executive information on their website.
Further research reveals QBN marketing citing three “global presences”:
- Dubai is a red flag because it’s the MLM crime capital of the world
- the British Virgin Islands is a red flag because it’s a tax haven with no active MLM securities fraud regulation
- the UK is a red flag because registering shell companies there is trivial
The same marketing cites four QBN founders; Anwaar Qureshi (CEO), Farid Ladhani (MD), Maher Awad (CFO) and Tariq Ausaf (COO).
Each of QBN’s co-founders are former top earners in the collapsed BizzTrade Ponzi scheme.
BizzTrade began as BizzTrek, an Amazon knock-off pyramid scheme run by Rehan Gohar, Rizwan Gohar (brothers) and Gurpreet Dhaliwal.
Note that Dhaliwal is cited as QBN’s Chief Advisory Officer.
BizzTrek collapsed by the end of 2019, prompting the Gohar brothers to reboot as BizzTrade.
BizzTrade was initially a forex Ponzi scheme. By mid 2020 forex had been swapped out for crypto.
The “BizzCoin” iteration of BizzTrade collapsed in late 2021. This prompted a third reboot as BizzTrade Pro in early 2022.
BizzTrade Pro collapsed after a few months. A fourth NextGen Academy reboot was launched on or around April 2022.
NextGen Academy lasted about a year. In early 2023 a My Car Club spinoff was launched but that appears to have already collapsed.
QBN’s website domain (“myqbn.com”), was privately registered on July 4th, 2022. It appears QBN’s co-founders bailed shortly after the BizzTrade Pro reboot.
One country you won’t find openly associated with QBN is the US. This is strange, seeing as each of QBN’s co-founders appear to have ties to Texas.
That said, whether QBN’s co-founders are still in the US or whether they’ve fled to Dubai full-time is unclear.
At time of publication SimilarWeb tracks top sources of traffic to QBN’s website as the Netherlands (71%), the US (20%) and India (6%).
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.
QBN has no retailable products or services.
Affiliates are only able to market QBN affiliate membership itself.
QBN’s Compensation Plan
QBN affiliates invest tether (USDT) into QBN token.
QBN represents that 1 USDT = 1 QBN. It’s important to note that QBN token doesn’t exist outside of QBN.
Once invested in, QBN is parked with the company on the promise of “weekly passive rewards”, capped at “up to 50%” a year.
- pay a 25 USDT annual fee and receive “up to 15%” a year
- pay a 50 USDT annual fee and receive “up to 25%” a year
- pay a 100 USDT annual fee and receive “up to 50%” a year
The MLM side of QBN pays on recruitment of affiliate investors.
QBN Affiliate Ranks
There are eight affiliate ranks within QBN’s compensation plan.
Along with their respective qualification criteria, they are as follows:
- Member – sign up as a QBN affiliate and invest
- Apprentice – invest at least 100 USDT, recruit two or more affiliates who together have invested at least 1000 USDT, and generate 2500 USDT in total downline investment volume
- Leader – invest at least 500 USDT, maintain at least two personally recruited affiliates who together have invested at least 2000 USDT, and generate 10,000 USDT in total downline investment volume
- Executive Leader – invest at least 1500 USDT, recruit three or more affiliates who together have invested at least 3000 USDT, and generate 30,000 USDT in total downline investment volume
- Manager – invest at least 5000 USDT, maintain at least three personally recruited affiliates who together have invested at least 10,000 USDT, and generate 200,000 USDT in total downline investment volume
- Executive Manager – invest at least 10,000 USDT, maintain at least three personally recruited affiliates who together have invested at least 25,000 USDT, and generate 500,000 USDT in total downline investment volume
- Director – invest at least 15,000 USDT, recruit four or more affiliates who together have invested at least 50,000 USDT, and generate 3,000,000 USDT in total downline investment volume
- Executive Director – invest at least 25,000 USDT, maintain at least four personally recruited affiliates who together have invested at least 100,000 USDT, and generate 5,000,000 USDT in total downline investment volume
Note that for Member and Apprentice, no more than 60% of required downline investment volume can be counted from any one recruitment leg.
From Executive Leader this requirement is reduced to 40%. From Director the requirement is further reduced to 30%.
QBN affiliates earn a referral commission on tether invested by personally recruited affiliates.
- Members and Apprentices earn 5%
- Leaders earn 6%
- Executive Leaders earn 7%
- Managers earn 8%
- Executive Managers earn 9%
- Directors and Executive Directors earn 10%
QBN pays a ROI Match via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they 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 and so forth down a theoretical infinite number of levels.
QBN caps payable unilevel team levels at twenty. The ROI match is paid as a percentage of passive returns paid across these twenty levels based on rank:
- Apprentices earn 10% on level 1 (personally recruited affiliates)
- Leaders earn 10% on level 1 and 5% on level 2
- Executive Leaders earn 10% on level 1, 5% on level 2, 2.5% on level 3, 1.5% on level 4 and 1% on level 5
- Managers earn 10% on level 1, 5% on level 2, 2.5% on level 3, 1.5% on level 4, 1% on level 5 and 0.5% on levels 6 to 10
- Executive Managers earn 10% on level 1, 5% on level 2, 2.5% on level 3, 1.5% on level 4, 1% on level 5, 0.5% on levels 6 to 11 and 0.375% on level 12
- Directors earn 10% on level 1, 5% on level 2, 2.5% on level 3, 1.5% on level 4, 1% on level 5, 0.5% on levels 6 to 11 and 0.375% on levels 12 to 15
- Executive Directors earn 10% on level 1, 5% on level 2, 2.5% on level 3, 1.5% on level 4, 1% on level 5, 0.5% on levels 6 to 11, 0.375% on levels 12 to 15 and 0.25% on levels 16 to 20
QBN’s Team Bonus appears to be a bonus percentage paid on unilevel team volume:
- Apprentices receive 0.5%
- Leaders receive 0.75%
- Executive Leaders receive 1%
- Managers receive 1.5%
- Executive Managers receive 2%
- Directors receive 2.5%
- Executive Directors receive 3%
Note that it’s unclear whether the Team Bonus is paid on initial USDT investment or QBN passive returns.
Rank Achievement Bonus
QBN rewards affiliates for qualifying at Apprentice and higher with the following Rank Achievement Bonuses:
- qualify at Apprentice and receive a $25 gift card
- qualify at Leader and receive a $100 gift card
- qualify at Executive Leader and receive an Apple iPad
- qualify at Manager and receive an Apple MacBook
- qualify at Executive Manager and receive $500 a month
- qualify at Director and receive a share in a Global Pool and Rolex Watch
- qualify at Executive Director and receive a share in a Global Pool and “luxury car” valued at $50,000
The Global Pool is made up of breakage from referral commissions (10% is paid out but only to Directors and Executive Directors).
The Global Pool is split 50% between Directors and Executive Directors each month.
QBN affiliate membership is 10 QBN a month or 100 QBN annually.
Full participation in the attached income opportunity requires payment of a 25, 50 or 100 USDT annual fee, and additional USDT investment.
QBN is essentially a continuation of the BizzTrade fraud its founders stole money through.
QBN’s external revenue is intentionally broad, encompassing pretty much all of the usual ruses;
QBN is a global crowdfunded Venture Capital Business Network company committed to a well-balanced & diversified portfolio of businesses which include real estate, forex, crypto, gold/silver, and commodities.
Naturally no verifiable evidence of QBN being engaged in any external revenue generation is provided.
On the regulatory front, QBN’s passive investment scheme constitutes a securities offering as per the Howey Test.
This requires QBN to register with financial regulators, which it provides no evidence of having done.
Specifically the SEC and CFTC in the US, and FCA in the UK.
Seeing as all of QBN’s founders appear to have ties to Texas, we can throw in the Texas State Securities Board too.
QBN failing to register with financial regulators and file audited financial reports means that, at a minimum, QBN is committing securities and commodities fraud.
Because there is no external revenue generation. Like BizzTrade, all QBN is doing is recycling newly invested funds to pay existing investors.
This is set up through their QBN token, which QBN can generate an infinite amount of on demand.
One final note is potential money laundering through Anwaar Qureshi’s QPayment Solutions.
According to his LinkedIn profile, Qureshi launched QPayment Solutions in Texas back in 2011.
QPayment Solutions. (QPS), been providing turnkey bankcard solutions, ATM services, and other value added products to thousands of merchants and financial institutions across the country.
Our services include ATM’s, Credit and Debit Card Processing, ACH (electronic checks), Remote Deposit, Check Cashing, and Gift cards.
On its website, QPayment Solutions touts processing for “high risk merchants” as a feature.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve QBN of ROI revenue, eventually prompting a collapse. This collapse will see QBN investors left bagholding worthless QBN tokens.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants will lose money.