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Armin Ordodary

In the era of CFDs and binary options, large international forex operations emerged. With the peak occurring in or around 2015, many of them began operating between 2010 and 2012. Legislators and regulators needed some time to recognize emerging trends and devise effective countermeasures. The beginning of 2014 saw regulators issue warnings about binary options, signaling changes in the FX market. It took three more years for regulators to formally restrict binary options. A few international forex entities misled thousands of retail investors between 2012 and 2017. One of the groups associated with binary options, forex, and cryptocurrency trading activities is Lau Global Services Corp. Media has requested additional information to establish an EFRI funds recovery campaign.

The FSM Smart Operations by Armin Ordodary

The FSM Smart platform (www.fsmsmart.com) has been actively gaining clients through their Serbian office Upmarket d.o.o., according to information provided to the media by whistleblowers. Benrich Holdings Ltd., a company based in Cyprus, is the only shareholder in this office. Armin Ordodary, a resident of Cyprus, is a director of both companies. Upmarkt is one of the Lau Global Services Corp group’s several offices. FinTelegrem has information that indicates FSM Smart and Armin Ordodary are connected to the Lau network.

The Lau network includes a few minor branches, including the Serbian Upmarkt d.o.o. Kiev, Ukraine, has served as something of a center for additional offices that have already been identified in other jurisdictions. For instance, call center addresses in Kiev were noted by the Russian website. Apart from E&G Bulgaria, Lau Global Services Corp is one of the biggest financial enterprises operating in various regions. Even with so many offshore connections, this operation appears to be run out of Ukraine and the Balkans.

However, let’s begin with FSM Smart and work our way up to the larger picture. Early in 2018, the FSM Smart platform made its debut. Investor cautionary note regarding the current FSM Smart (www.fsmsmart.com) activities:

August 2018: In the summer of 2018, the Financial Markets Authority (FMA) of New Zealand issued a warning on FSM Smart.

November 2018: The Canadian regulatory body in Manitoba (MSC) issued an investor warning against FSM Smart, while the financial market regulatory organization in Switzerland, FINMA, issued a warning against the company. FSM Smart’s contact address is reportedly Hertensteinstrasse 51, 6004 Luzern in Switzerland.

The Global Network of Lau

There are indications of connections between the operators of FSM Smart and other entities, such as MTI Markets (www.mtimarkets.com). According to reports, Lau Global Services Corp., the company behind this platform, was also linked to the following other financial services:

TradingMX (www.tradingmx.com)

LGS Corp. (www.lgs-corp.com)

TradingBanks (www.tradingbanks.com)

Trade12: https://www.trade12.com

MTI Markets (www.mtimarkets.com)

Grizzly (www.grizzly-ltd.com)

The following companies have been linked to the Lau Global Services group by the Media team:

Belize’s Lau Global Services Corp.

Serbian Upmarkt d.o.o.

Global Fin Services Ltd (UK), Exo Capital Markets Ltd (Marshall Islands), and MTI Investments LLC or MTI Markets Ltd (Marshall Islands)

Malta-based Grizzly Ltd.

Cyprus-based R Capital Solutions Ltd.

Cyprus-based Benrich Holdings Ltd.

SIO Ltd (Cyprus)

Eyar Financial Corp Limited (Vanuatu)

Most of these businesses don’t have a website or aren’t active on social media. Armin Ordodary, a resident of Cyprus, appears to be involved in the Lau network. Over the last few months, many of the websites and social media accounts linked to him have gone offline. One exception is his connection to SIAO Ltd. The reason for this remains unclear.

Regulators from multiple jurisdictions issued numerous warnings regarding the brands and businesses connected to Lau Global Services Corp:

August 2015: MXTrade and Lau Global Services were mentioned in an investor alert by the Italian CONSOB.

September 2015: MXTrade and Lau Global Services were named in an investor alert from the Cyprus agency CySec.

April 2016: The Belgian Financial Services Authority (FSMA) issued a cautionary statement to investors.

November 2016: The Australian regulator ASIC issued an investor warning regarding MXTrade.

November 2016: The New Zealand regulator FMA issued a warning regarding EXO Capital Markets Ltd. trading as Trade12.

November 2017: The Guernsey regulator issued an investor warning about Exo Capital Markets Ltd. trading as Trade12.

Numerous other warnings were issued regarding various trading platforms.

The Facebook page of Lau Global Service Corp is still accessible, even though many of the network’s websites have since gone offline. It is reported that R Capital Solutions Limited, a financial services firm registered in Cyprus (HE329922) with license number 246/14, approved and regulated by the Cyprus Securities Exchange Commission, was previously associated with the MXTrade brand. In 2015, the MXTrade name and customer base were transferred to Lau Global Services. R Capital Solutions, however, denies any direct connection with MXTrade, as stated in an official release.

Connections to Grizzly Ltd. and Other Entities

Lau Global Services is also a shareholder in Grizzly Ltd., a Malta-based company that formerly operated payment services for financial platforms, according to Offshore Leaks Database. This can be seen, for instance, on an old MTI Markets website. Shlomo Matan Shalom Avshalom, an Israeli, is listed as a director of Grizzly Ltd. Various sources and forums indicate that Grizzly Ltd was associated with the Lau network and possessed multiple trading brands.

The companies involved in financial services frequently make structural changes to avoid detection. In particular, the front shell firms, often operated by third parties, change frequently.

Individuals Found in the Network

The individuals associated with FSM Smart include Mathew Bradley, Ali Mahmoudi, and Armin Ordodary, a resident of Cyprus who is reportedly a former Windsor Brokers employee. Born in January of 1991, Armin Ordodary has registered multiple forex trading domains between 2013 and 2014. In addition, he serves as the director of Bythos Yachts Management OÜ in Estonia.

Armin Ordodary’s Business Involvement

At this time, it is unclear whether Armin Ordodary played a major role in the network or was a secondary figure. What is known is that he has been associated with various businesses and initiatives within the forex industry. He has ties to both the Nepcore project and SIAO Ltd, a provider of FOREX services. Additionally, he has been linked to the Upmarkt office in Serbia, which worked with FSM Smart. He also provided marketing services for Lau’s financial operations through Nepcore.

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Josip Heit’s

In the industries of digital assets and network marketing, Josip Heit has gained recognition. His business strategies and related activities have been the subject of various discussions. This overview highlights key aspects of Heit’s ventures, including business operations, legal cases, regulatory matters, and public perception.

Business Activities and Regulatory Attention

Josip Heit has been associated with GSPartners and the G999 coin. Regulatory bodies in the U.S., including the Texas State Securities Board, the Alabama Securities Commission, and the Arkansas Securities Commissioner, have issued directives concerning GSPartners’ activities.

Concerns have been raised regarding investment products such as MetaCertificates, linked to digital assets, which were distributed without the necessary regulatory approvals. Observers have noted that promotional materials may have contained optimistic claims about potential returns.

Involvement with Karatbars International

Heit has also been linked to Karatbars International, a company that introduced the KBC cryptocurrency. The business promoted a blockchain-based product and presented growth projections related to the KBC coin. Some individuals later expressed concerns about the project’s fulfillment of its stated objectives.

Legal Actions and Defamation Claims

Heit has taken legal steps in response to statements he considers misleading. In Germany, he has pursued cases against media sources and individuals whom he claims have misrepresented him.

A notable case involved Heit and GSPartners filing a legal claim against an online commentator in the U.S. following critical statements. This action was viewed by some as an effort to challenge public discourse and protect reputation.

In 2022, Heit won a case concerning the misuse of his name in an unauthorized domain registration. The World Intellectual Property Organization (WIPO) determined that the registration was done in bad faith and ordered the transfer of the domain to Heit.

Regulatory and Compliance Matters

Government agencies have reviewed the business operations connected to Heit. The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have examined GSPartners regarding compliance with industry regulations.

Additionally, authorities in multiple U.S. states, including Georgia and California, have addressed regulatory matters related to these operations. International regulatory bodies in Australia, South Africa, and New Zealand have also provided advisories concerning these business activities.

Media Coverage and Public Perception

Extensive media coverage has contributed to the public discourse surrounding Josip Heit. His standing as a known figure means that discussions about his business activities are widely observed and analyzed.

In response to media reports, Heit has engaged legal and public relations experts, including prominent law firms, to address concerns and clarify business narratives. These efforts aim to manage public perception and ensure that accurate information is shared.

Conclusion

Josip Heit’s involvement in digital assets and network marketing has led to various discussions. His business operations have been subject to regulatory attention, legal actions, and public debate. Despite these challenges, Heit continues to engage in efforts to safeguard his reputation and business interests.

As ongoing reviews and discussions unfold, their outcomes may have a lasting impact on Heit’s business ventures and standing in the industry.