Since 2018, we have been reporting on the FSM Smart scam network run by cybercrime activist Armin Ordodary, who lives in Cyprus. This scam has been operated with various domains over the years and received a record-setting number of fraud warnings. Currently, the site is accessible via https://fsmsmarts.com. Registrations are no longer possible; the site seems to be a Zombie. We have heard that the two fund recovery scams, Eternity Law and Roshental Law, are run by the same people as FSM Smart broker sam. We want more information on this.
Key data
The following table is a work in progress:
| Brands | FSM Smart, Trade12, MXTrade, HQBroker, MTIMarkets, and counting |
| Legal entities | FSM Smart Ltd, BizServe DOO, BizTech DOO, Benrich Holdings Ltd, Benrich Trading Ltd, SIAO Ltd, Lau Global Services Corp, Exo Capital Markets Ltd, Global Fin Services Ltd, MTI Investments LLC, MTI Markets Ltd, Grizzly Ltd, R Capital Solutions Ltd, Eyar Financial Corp Limited, 100 Marketing Solutions Ltd, Spike Labs Srl, Studio Synthesis Srl, Nethesis srl, AT Consulting shpk |
| Jurisdictions | United Kingdom, Cyprus, Malta, Italy, Serbia, Ukraine, Georgia, Albania, Marshall Islands, Belize, Vanuatu, and counting |
| Related individuals | Armin Ordodary |
| Related fund recovery scams | Eternity Law, Roshental Law |
| Warnings | European Bank for Reconstruction and Development, FCA, Consob, FINAM, FMA New Zealand, ASIC, OSC, MSC, and counting |
The Dark Ordodary Realm
Some of the involved boiler rooms are operated by Armin Ordodary via legal entities in Belgrade, such as BizServe DOO (formerly Upmarkt DOO) or BizTech DOO. Partners across Europe operate additional boiler rooms in the FSM Smart network. Cyprus is Ordodary’s home turf. There he runs Benrich Holdings Ltd and Benrich Trading Ltd in Cyprus. Ordodary bills himself as a cosmopolitan and Middle East expert. He is known for filing DMCA complaints with Google against critical reports. FinTelegram and the Forex Peace Army (FPA) have already been the targets of his childish and non-effective approach.
Forex Peace Army findings
The FPA investigators have established that the operators of FSM Smart are also behind the scams Trade12, MXTrade, or HQBroker and operate through various boiler rooms in Ukraine, Georgia, and the Balkans. In addition, FSM Smart has also worked with boiler rooms in Italy. FPA has presented this with many facts. The scam network around Armin Ordodary extends all over Europe. We called the extended scam network around Ordodary the Lau Scheme.
Please read our report on the Lau Scheme here.
Fund Recovery Scams
We published a comprehensive report some time ago about the two fund recovery scams Eternity Law and Roshental Law. The European Bank for Reconstruction and Development (EBRD) issued a warning against the fake law firm Roshental Law, whose website is currently down.
Please read our report on Eternity Law and Roshental Law here.
Interestingly, the three domains www.fsmsmarts.com, www.eternitylawfirm.com, and www.roshentallaw.com, have the exact contact details in Reykjavik. The domain www.eternitylaw.com presents contact details in Kyiv. We now know that Eternity Law and Roshental Law are part of the same network and are operated by the same boiler rooms.
Share information
We would like to know more about the people behind FSM Smart, Eternity Law, and Roshental Law. If you have any information, please share it with us through our whistleblower system, Whistle42.
