Request For Information – FSM Smart And Armin Ordodary

At the beginning of March 2017, FinTelegram published a request for information concerning the broker scam FSM Smart and the operator Armin Ordodary. In fact, we did get some valuable information. We had communication with insiders and they assured us that Armin Ordodary would only be a kind of frontman for a larger group. Shortly after our request FSM Smart changed its domain. It is also a fact that the Scam Broker is still online today. This is not acceptable, so we repeat our Request for Information.

Confirmed FSM Smart Information

We received confirmation after the last call that Armin Ordodary was the founder and manager of the SIAO Group and the white–label broker platform provider NepCore. Both companies have meanwhile closed their websites.
Furthermore, it was confirmed to us that Armin Ordodary is a shareholder and manager of DOO, the Serbian registered upmarket. This is supposedly not a Boiler Room but a marketing company that brings new customers to Broker Scams.

We have learned that the Cyprus resident with Iranian roots and his companies are only part of a global cybercrime organization.

Whistleblowers delivered information to FinTelegram that the illegal broker scheme FSM Smart (www.fsmsmart.com) has been aggressively acquiring clients via their Serbian boiler room Upmarkt d.o.o. The sole shareholder of this boiler room is the Cyprus-registered Benrich Holdings Ltd. Director of both companies is the Cyprus resident Armin Ordodary.

The Investor Warnings

The illegal broker was launched early 2018. Investor warning against the FSM Smart (www.fsmsmart.com and www.fsmsmarts.com) scheme so far:

• March 2019: UK Financial Conduct Authority (FCA) issued an investor warning against the scheme;
• April 2019: Australian watchdog ASIC issued an investor warning against the broker scheme;
• August 2018: New Zealand Financial Markets Authority (FMA) issued a warning;
• Oct 2018: Switzerland’s financial market supervisory authority FINMA issued a warning;
• Nov 2018: the Canadian watchdog in Manitoba (MSC) issued an investor warning against FSM Smart;

The FSM Smart contact address is said to be in Switzerland: Hertensteinstrasse 51, 6004 Luzern.

Report Information

If you have additional information about people, companies, and brands involved in the FSM Smart scheme please share them with our FinTelegram Research Team via our whistleblower system. Together we can make an impact and stop broker scams.