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Armin Ordodary, FSM Smart, and Lau Global Services

In the era of CFDs and binary options, massive international forex operations arose. 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 the end of the FX gold rush. It took three more years for regulators to formally outlaw binary options. A few international forex operations impacted hundreds of thousands of retail investors between 2012 and 2017. One of the groups that created a wave of binary options, forex, and cryptocurrency trading methods is Lau Global Services Corp. Media has requested additional information to establish an EFRI funds recovery campaign.

The FSM Smart Broker Scheme by Armin Ordodary

The FSM Smart operation has been aggressively gaining clients through their Serbian boiler room 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 boiler room. Armin Ordodary, a resident of Cyprus, is a director of both companies. Upmarkt is only one of the Lau Global Services Corp operations' several boiler rooms. FinTelegrem has information that indicates FSM Smart and Armin Ordodary are involved in the “Lau Network.”

The “Lau Network” has only a few minor branches, including the Serbian Upmarkt d.o.o. Kiev, Ukraine, has served as something of an epicenter for additional boiler rooms that have already been discovered in other jurisdictions. For instance, call center addresses in Kiev were discovered by the Russian website Forex Analysis. Apart from E&G Bulgaria, Lau Global Services Corp is unquestionably one of the biggest broker enterprises on the planet. Even with so many offshore connections, this operation appears to be run out of Ukraine and the Balkans.

The Global Services Network of Lau

It is clear that there are connections between the operators of FSM Smart and other individuals, such as MTI Markets (www.mtimarkets.com). According to reports, Lau Global Services Corp., the company behind this unlawful broker, also ran the following other broker operations:

TradingMX (www.tradingmx.com)

LGS Corp www.lgs-corp.com

TradingBanks (www.tradingbanks.com)

Trade12 (https://www.trade12.com)

MTI Markets (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 (Vanatu)

Regulators from many jurisdictions issued numerous warnings to the brands and businesses connected to Lau Global Services Corp.

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

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

April 2016: The Belgian Financial Services Authority (FSMA) cautioned investors.

November 2016: The Australian regulator ASIC issued a warning to investors about MXTrade.

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

November 2017: The Guernsey regulator issued a warning to investors about Exo Capital Markets Ltd. trading as Trade12.

Individuals Found in the Network

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

The well-established ties that Armin Ordodary

We are unable to determine at this time if Armin Ordodary was a lieutenant in Cyprus or one of the network’s leaders. In actuality, we have managed to determine his affiliation with businesses, endeavors, and undertakings within the brokering landscape. He has ties to both the Nepcore project and SIAO Ltd, a provider of services. Additionally, we are aware that he oversees the Upmarkt boiler room in Serbia, which provided services to FSM Smart. He offered marketing services for the Lau Network’s operations through Nepcore.

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Ugne Buraciene Following Yukom’s Footsteps?

It resembles the height of binary options trading. Large binary options firms, such as the Israeli Yukom, had a reputation for rewarding their staff members with brand-new automobiles, ideally BMWs. Lee Elbaz, the CEO of Yukom, received a 28-year prison sentence in the United States for investment-related misconduct. Group CEO Ugne Buraciene declared during Payabl’s X-Mas celebration that every employee based in Cyprus will receive a brand-new BMW from the company. Dietmar Knoechelmann and Ruediger Trautmann, two former senior executives of Wirecard, founded the business.

One of the businesses in Wirecard’s shadow organisation was the old PowerCash21. Dietmar Knoechelmann, the former CEO of Wirecard Payment Solutions, and Ruediger Trautmann, the former CFO of Wirecard, launched it more than 10 years ago in Germany and Cyprus. The business appears to have an abundance of cash on hand. Payabl is the name of the payment institution that has been under Central Bank of Cyprus regulation since 2021. The payment processor, like Wirecard, focuses on the high-risk internet trading, gambling, and adult industries.

About Yukom Communications

Lee Elbaz, 38, an Israeli citizen, was sentenced by United States District Judge Theodore D. Chuang of the District of Maryland. After a three-week jury trial, Elbaz was convicted on one count of conspiracy to commit wire misconduct and three counts of wire misconduct on August 7, 2019.

“This defendant targeted and misled thousands of victims, taking money from retirees, veterans, and others, many of whom lost all of their savings,” said Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division. Today’s sentence demonstrates that those who mislead U.S. investors will face serious consequences, no matter where in the world they commit their actions.”

“Financial actors like Elbaz and her associates are only concerned in one thing: taking money from naïve investors for personal gain. The FBI is committed to detecting and investigating misconduct, regardless of where the actors are or how long it takes,” said Assistant Director in Charge Timothy R. Slater of the FBI’s Washington Field Office. “I’d like to thank our partners in this investigation, specifically the Israeli Police, and to encourage anyone who may have information about binary options misconduct to come forward and report it to the FBI.”

According to the evidence produced at trial, Elbaz and her associates fraudulently offered and advertised binary options to investors in the United States and across the world via two websites: BinaryBook and BigOption. The evidence showed that in her role as CEO of Yukom, Elbaz, along with her associates and subordinates, misled investors using BinaryBook and BigOption by falsely claiming to represent the interests of investors when, in fact, the owners of BinaryBook and BigOption profited when investors lost money; by misrepresenting the suitability of and expected return on investments through BinaryBook and BigOption; and by providing investors with false names and qualifications.

According to the evidence, representatives of BinaryBook and BigOption, operating under Elbaz’s supervision, misrepresented the conditions of so-called “bonuses,” “risk free trades,” and “insured trades,” and falsely leveraged these alleged benefits in a manner that harmed investors.

Five associates who worked for Elbaz, including Liora Welles, Shira Uzan, Yair Hadar, Austin Smith, and Lissa Mel, have pled guilty to conspiracy to conduct wire misconduct and received sentences. Welles, Uzan, Hadar, and Smith all worked together against Elbaz and testified at her trial in July 2019. In addition, an indictment accusing another 15 of Elbaz’s accused associates was unsealed in November 2019.

The FBI’s Washington Field Office investigated this case. The case is being prosecuted by Principal Assistant Chief Henry Van Dyck, Assistant Chiefs L. Rush Atkinson, and Caitlin R. Cottingham from the Division’s Section. Assistant Chief Tracee Plowell and Trial Attorney Ankush Khardori of the Section had previously prosecuted the case. The Division’s Office of International Affairs and the United States Commodity Futures Trading Commission also assisted in this investigation.

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James Assali: Accused of Multistate Loan Modification

The owner of a Costa Mesa-based loan company, James Assali, is the target of legal action from law enforcement agencies. James Assali is charged with participating in dishonest practices about loan modification.

The individual in charge of the Costa Mesa-based mortgage and escrow company’s refinancing is the focus of attention by law authorities. This man is charged with running an operation that misled and mistreated people in California and other states.

The prosecution has demonstrated that victims have been affected not just in California but also in Washington, Florida, Minnesota, and Maryland.

The subject of the investigation, an Irvine native by the name of James Toufic Assali, is presently facing numerous accusations.

The defendant faces eighteen criminal counts with suspected grand theft and three more felonies specifically connected to theft against an elderly person.

In addition, the person faces two felonies for filing a false tax return and four felonies for financial misconduct.

In addition, the existence of penalty enhancements is related to the significant amount of money that has been involved in these activities, above the $50,000 threshold. If James Assali is found guilty, he might have to serve time in prison.

James Assali is thought to be residing somewhere between Vermont and California at this time, but a search warrant has been filed for him, according to the Orange County County Attorney’s office.

The person in question is purportedly involved in the administration of Fortis Title Solutions and Meridian Financial Corp., two Costa Mesa-based businesses. The person is being prosecuted for requesting Meridian’s help with a mortgage rate lock and modification.

The previously mentioned facilities were not provided for free; instead, they came at a cost ranging from $750 to $10,000.

The alleged victims are working to get the truth about these allegations as the court cases continue.

According to the Official News Release, James Assali’s Allegations

It mainly consists of:

To obtain a cheaper interest rate for refinancing their residential property or adjusting the terms of the mortgage credit, the practice entails charging victims a fee. Furthermore, an agreement is created to pay back the expenses after the trust procedure is finished.

The inability to complete a sizable percentage of home loan restructuring or modification offers, in addition to the denial of the expected reimbursements.

The person transferred money digitally from his company bank account to his account, totaling more than $100,000 every year. In addition, he filed false tax filings and purposefully understated his pay by more than $200,000.

Following complaints, the local District Attorney’s office opened an investigation into the occurrence.

The investigation into the filing of false tax returns was made possible in large part by the California Franchise Tax Commission’s involvement.

People who know where the subject is right now, are aware of the subject in question, or believe they could be affected themselves are encouraged to get in contact with Supervisory DA Detective Eric Ackerlind.

James Assali: Linked to Deceptive PR Services

A rumored PR article claims that James Assali has been a prominent figure in this field for around thirty years, having led several projects aimed at meeting the demands of businesses and consumers alike.

James Assali claims in an essay that was published and for which he was paid that he was born with a natural curiosity about the world, stemming from his childhood in the scenic town of Manchester, New Hampshire.

The person in question set out on an incredible journey to California when he was just 13 years old, carrying only a bag filled with sentimental personal items.

James Assali has dedicated himself to carefully sculpting his academic trajectory as a result of his paid internet articles and claims about being a rising scholar.

He made a smooth transition into the quick-paced commercial banking sector after finishing his undergraduate degree and carving out a niche for himself.

His professional journey reached its apex when he was appointed Chief Executive Officer of the prestigious Meridian Financial Corporation, a major player in the mortgage market.

However, it is imperative to recognize that every story has its share of positive and negative elements.

James Assali suffered from the rare incidence of spasmodic dysphonia, an emotional illness linked to worry that impairs his voice intermittently.

In James Assali’s story, he positions himself as a monument to the enduring qualities of perseverance and adaptability that define the dynamic corporate environment.

Through his voyage, the protagonist demonstrates two qualities that are essential to success in today’s corporate environment: transformation and fortitude.

About Money Laundering

Laundering money is the term used to describe the complex financial strategies that individuals use to conceal the origins, source, or true nature of the money that has been obtained improperly.

This activity serves as a key component of numerous serious criminal activities, which ultimately endanger the safety and integrity of the financial industry.

The Bottom Line

After a troubling and widespread case of financial misconduct, there is a growing search for James Assali. Several cases, involving various violations and a modification of a loan operation that caused harm to individuals in numerous jurisdictions, are being brought against Mr. Assali.

As the investigation continues, it is becoming increasingly evident how important it is to exercise care when engaging in financial transactions and how essential it is for regulators in the loan and escrow industries to exercise strict monitoring.

Furthermore, everyone has faith that the process of locating verifiable proof and obtaining recompense would provide consolation and satisfaction to those affected by this misconduct.