You may have seen some of the YouTube videos that Shaun Smith seems to be constantly posting.
He is heavily into promoting YourNetBiz and is uploading lots of videos in an attempt to boast about his apparent earnings from that opportunity,
I won’t lie to you, I think YourNetBiz is a poor opportunity and the vast majority of members will lose money. In fact, I think it’s a barely disguised pyramid scheme where money is passed around with no real product changing hands.
Still, the commission on selling the main product is $2,000 per sale so it’s no wonder that many people are promoting it.
Back to Smith and his video production endeavours…
I’m dubious.
I’m dubious about Shaun’s past and his claims.
The first thing that worries me about Shaun Smith:
I wonder about his latest video that has been posted on his top-income-system.com website on 28/09/2009.
On that page Shaun states:
“If you like the idea of making £1,248.11 in one day, then don’t delay start TODAY?“
Not sure why he put a question mark in that sentence but we’ll ignore that for the moment.
In his video Shaun claims out that he received a payment for £1,248.11 on the 28th September 2009.
I am aware that Shaun promotes YourNetBiz and that YourNetBiz has a membership level that is known as the “Gold” level.
To join at that level you must pay $1,995 to your sponsor. The rules state that your sponsor must then distribute that money. He must send $295 to YourNetBiz’s owners and he must send $300 to his own sponsor, leaving a maximum of $1,400.
According to FXHistory the USD/GBP rate on the 28th September was 1.59590.
A payment of $1,995 on that day would become, roughly, £1,250.08 which, when slight rate changes are taken into account, could become around £1,248.11.
So if you were ignoring any distribution to the company owners or any distribution to his sponsor, it is possible that Shaun received a payment of £1,248.11 in his merchant account on the 28th September 2009.
However, I am doubtful that Shaun “made” that amount of money.
After fulfilling his obligations I would imagine that he netted closer to £875 (around $1,400). If he used a PBA to close the sale the amount would’ve been even less that that.
The result of all this is that Shaun is claiming to “make” £1,248.11 when it is likely that he actually made about 2/3 of that or less.
Yes, it’s still a nice amount of money to make and I’m sure that many people would like to have that kind of money paid into their account. The issue is that it seems he is claiming to make more money than he actually is.
If it is an exaggeration then I must ask the question: what other earnings is Shaun Smith exaggerating?
The second thing that worries me about Shaun Smith:
I took a few minutes to do a Google search and found some very worrying articles regarding Shaun’s past problems with the authorities.
The first I found was from a well-known national UK newspaper, the Daily Mirror, featured on the Mirror’s website mirror.co.uk:
Dated 21st September 2001 it states that Smith, along with a couple of accomplices, was tried at Stafford Crown Court.
The Mirror said that:
“…after a nine-week trial [the jury] found [Shaun] Smith, 36… guilty of five fraud charges…“
Another article elaborated on Shaun’s conviction:
Homeworking scams con-men found guilty of conspiracy to defraud
Here it stated that Shaun Smith was found guilty of “conspiracy to defraud”.
It seems that Shaun has had some very serious problems in the past and, according to one website, was sentenced to 5 years in prison for his involvement with a homeworking scam.
His videos seem to suggest that he exaggerates his income and newspapers report that he was convicted of fraud just a few years ago.
For these reasons I would never be able to recommend any of Shaun Smith’s products or business opportunities.