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ARMIN ORDODARY AND THE FSM SMART FRAUD

Media released a request for information about the broker fraud FSM Smart and its operator, Armin Ordodary, at the beginning of March 2017. We did, in fact, learn some important facts. After speaking with insiders, we were given the assurance that Armin Ordodary would merely serve as a front for a bigger organization. Not long after we requested it, FSM Smart modified its domain. The fact that the Scam Broker is still active online is another reality. We must reiterate our request for information because this is intolerable.

VERIFIED FSM INTELLIGENCE REGARDING ARMIN ORDODARY

Following the most recent call, we were informed that Armin Ordodary was the manager and founder of both the white-label broker platform provider NepCore and the SIAO Group. In the interim, both businesses have shut down their websites.

We have received confirmation that Armin Ordodary is a manager and shareholder of DOO, the upmarket Serbian company. This is purportedly a marketing firm that introduces fresh victims to broker scams, not a boiler room.

It has come to our attention that the Iranian-born resident of Cyprus and his businesses are merely a small component of a worldwide criminal network.

Information about the illicit broker scheme FSM Smart (www.fsmsmart.com) and its aggressive client acquisition strategy through Upmarket d.o.o., a Serbian boiler room, was provided to the media by whistleblowers. Benrich Holdings Ltd., a company based in Cyprus, is the sole shareholder in this boiler room. Armin Ordodary, a resident of Cyprus, is a director of both companies.

THE WARNINGS TO INVESTORS ABOUT ARMIN ORDODARY

Early in 2018, the illicit broker was introduced. Currently, investors are advised not to participate in the FSM Smart scheme (www.fsmsmart.com and http://www.fsmsmartscams.com).

The UK Financial Conduct Authority (FCA) warned investors against the plan in March of 2019.

ASIC, an Australian agency, warned investors not to participate in the broker scheme in April 2019.

August 2018: A warning was released by the Financial Markets Authority (FMA) of New Zealand.

October 2018: A warning was issued by FINMA, Switzerland’s financial market supervisory authority.

November 2018: The Manitoba-based Canadian watchdog, MSC, issued a warning to investors about FSM Smart.

According to reports, the FSM Smart contact address is Hertensteinstrasse 51, 6004 Luzern in Switzerland.

FSM SMART (ARMIN ORDODARY'S BRAINCHILD)

As one of the oldest and most innovative Forex brokers in the world, FSMSmart has elevated the entire industry to new heights. Both FSMSmart and its operations manager, FSM Smart Ltd., are well-known in the financial services industry.

Over 140 countries worldwide have benefited from the Company's noteworthy and well-founded financial services thanks to its brave service and steadfast dedication.

Because of the company's vast market expertise and experience, FSMSmart provides top-notch services. As we enhance our existing technology to enable the vast and volatile industry to establish a reliable and sound trading system, we continue to give the enormous value of the market to our clients.

The Company's founding members, who have been in the brokerage and forex industries for more than 50 years and who have been directing and instilling values in FSMSmart from its foundation, are financial professionals and adept financial service providers.

FSM Smart is constantly coming up with new ideas and methods to ensure that our clients have a luxurious and fulfilling experience. In addition, the company strives to offer the finest possible trading circumstances and top-notch client support while carefully selecting Account Managers to ensure success in forex trading.

FINANCIAL CONDUCT AUTHORITY

The UK government has no control over the Financial Conduct Authority (FCA), a financial regulator that is funded by fees collected from participants in the financial services sector. The FCA protects the integrity of the UK financial markets by regulating financial companies that offer services to consumers.

It focuses on how financial services companies, both retail and wholesale, are expected to behave. Similar to the FSA, which it replaced, the FCA is set up as a company limited by guarantee.

To establish regulatory standards for the financial industry, the Financial Policy Committee, the Prudential Regulation Authority, and the FCA collaborate. The FCA is responsible for the conduct of around 58,000 businesses which employ 2.2 million people and contribute around £65.6 billion in annual tax revenue to the economy in the United Kingdom.

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FRAUD CHARGES ON OREN AHRONSON?

Oren Ahronson's rise to prominence in the business world can be attributed in large part to his extraordinary strategic business acumen, which has enabled his company to achieve remarkable success.

The Israel Electric Corporation (IEC) and former judge and IEC director Dan Cohen are engaged in a major judicial dispute. The International Electrotechnical Commission (IEC) has filed a massive $200 million lawsuit against 71-year-old Cohen, who was charged in 2005 for allegedly taking large payments from multinational companies, including Siemens when he was an IEC employee.

Siemens, Shlomo Daniel, Ahronson's brother-in-law, and Oren Ahronson, an IEC board member, are also named in this action, which was filed at the Central District Court. According to the IEC, Cohen and his allies used dishonest and unscrupulous methods to sway the awarding of a contract that exceeded half a billion euros. It is alleged that Siemens bought gas turbines and associated services from Ahronson and Daniel using bribes in return for Cohen's assistance in obtaining the contract.

After Peru changed its position on extradition agreements, Cohen—who had fled to Peru more than seven years ago to avoid allegations against him—now faces extradition back to Israel. After coming back, Cohen was detained and put on trial for bribery, fraud, breach of trust, and obstructing the course of justice.

Cohen was questioned twice about possible bribes by the Israel Securities Authority before he left the country. He was warned, but he chose to flee the scene in 2005, claiming to be innocent, and became wanted by the authorities. Israel had made an effort to work out a plea agreement with Cohen, but his demands were not attainable. He was eventually extradited by Peru, where he now faces penalties in Israel.

Cohen faced an in absentia indictment in 2009 on charges of bribery, fraud, and other serious felonies. Before being named to the IEC board of directors in 1991, he had been a judge in the Beersheba District Court.

LET'S MOVE ON TO OREN AHRONSON AND HIS BACKGROUND IN HIS LINE OF WORK:

Oren Ahronson holds an MBA from Bar Ilan University and is a well-known entrepreneur. He has established and led technological enterprises for more than 20 years. During his tenure as CEO of Siemens in Israel, he oversaw a variety of industries and sectors, including communication, power, transportation, and healthcare. Since 2009, Ahronson has made a substantial contribution to the expansion and development of emerging Israeli companies by actively investing in and mentoring them. He is currently OverSi Technologies' business owner.

THE PROFILES OF OREN AHRONSON ON CRUNCHBASE AND LINKEDIN:

Oren Ahronson is identified as the proprietor of OverSi on Crunchbase. There is now the person's entire bio available.

Oren Ahronson joined LinkedIn in 2008 and as of right now, he has 1,148 followers and more than 500 connections.

According to his LinkedIn page, Oren Ahronson draws from his two decades of broad experience in executive leadership roles. Notable positions during this time include CEO of Siemens in Israel and leader of PowerOffer, InLoop, and Evolution Energy, among other creative technology firms. After such a fruitful career trajectory, he founded @OverSi, a specialized consulting agency whose mission is to link Israeli businesses with international markets.

FOUR MEN ARE UNDER INVESTIGATION IN THE $16 MILLION SIEMENS FRAUD CASE CONCERNING ISRAEL ELECTRIC CORP

The gag order that had been placed earlier has been lifted, allowing the Israel Securities Authority and Israel Police to question four people under caution about their possible role in accepting bribes totaling $16 million from Siemens AG. These bribes allegedly intended to influence the Israel Electric Corporation's (IEC) power plant turbine tender process.

The people who are being investigated are as follows:

Oren Ahronson: Former manager of the Energy and Industry Division of Siemens Israel.

Shlomo Daniel: Ahronson's brother-in-law and the owner of Oakfield Ltd.

Anton Mitchell Dalin: An Ahronson-affiliated forex dealer.

Haim Bar-Nir: Recently left the organization after serving as the deputy manager of the IEC planning division.

It's significant to remember that Dan Cohen, a former District Court judge, is presently incarcerated for six years in this case. He was found guilty of taking a bribe of NIS 4 million from Siemens; the state's main evidence against him was Ahronson.

It is suspected that Oren Ahronson and his friends used a variety of overseas bank accounts to act as middlemen in the payment of Siemens' $16 million bribe to Bar-Nir and Dalin. Ahronson is also suspected of hiding information concerning the bribery plan to impede the inquiry and the administration of justice. In addition, Ahronson and Daniel are being looked into as possible recipients of the bribe from the commissions they supposedly earned as middlemen.

This Israeli bribery case is a component of a larger global scam involving Siemens, which involves payments of a substantial $1.4 billion that were paid to assist several commercial transactions.

IEC chairman Yiftach Ron-Tal responded to these developments by calling for a comprehensive investigation and stressing the significance of finding the truth. He reiterated the company’s commitment to fighting corruption and promised complete cooperation with the authorities. Ron-Tal also congratulated the investigators on their continued efforts and urged them to reach a definitive conclusion.

CONCLUSION

The Israel Electric Corporation has filed a high-profile lawsuit against former director Dan Cohen and Oren Ahronson, alleging that Siemens bribed them. The case is a result of the allegations that Siemens bribed them. An elaborate set of charges of corruption is brought to light by the legal action, which has a valuation of $200 million. Cohen is presently serving a prison sentence for his actions that are implicated in the allegations. An inquiry is being conducted into the allegations that Oren Ahronson, a renowned person in the world of entrepreneurship, was involved in the incident. This case demonstrates the commitment to eliminating corruption inside business environments, and the authorities in charge of law enforcement continue their efforts to ensure that all those who have been implicated are held accountable before the legislation.

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CRIMINAL ALLEGATIONS ON SERGEY KONDRATENKO?

Was Money Laundering Involved with Sergey Kondratenko? The Unveiled Truth

How Russian businessman Sergey Kondratenko uses a wide range of banks and financial institutions throughout Europe to help his company, Royal Pay Europe, launder money from illegal bookies in Russia.

Throughout history, a wide range of illicit financial operations utilizing Russian currency have entered and are now being conducted out of Latvia and Lithuania. The money involved originates in the Russian Federation and other CIS countries.

The proprietor of 1xBet, Sergey Kondratenko, shares his story, which shows that nothing has changed in the last 20 years. The previous year, the Latvian media carried out a comprehensive investigation to show the wider public how the banking industry supports the dubious gambling industry, which has close ties to Russia.

Additionally, they were successful in tracking down key figures and those in charge of developing a sophisticated system that handles hundreds or perhaps millions of dollars in monthly withdrawals from Russian bookmakers to accounts in offshore jurisdictions.

The previous year, the Latvian media carried out a comprehensive investigation to show the wider public how the banking industry supports the dubious gambling industry that has close ties to Russia.

Additionally, they were successful in tracking down key figures and those in charge of developing a sophisticated system that handles hundreds or perhaps millions of dollars in monthly transactions from Russian bookies to offshore accounts.

IS SERGEY KONDRATENKO SOMEONE YOU’RE FAMILIAR WITH?

One facet of an investigation into the activities of Russian citizens engaged in money laundering in the Baltic states and other locations states that the investigation is focused on Sergey Kondratenko and his connection to 1xBet.

Many banks and other financial institutions found themselves in legal peril as the quantity of money being unlawfully washed rose to the tens of millions or even hundreds of millions of dollars. They faced severe penalties and, in certain circumstances, the loss of their licenses. Both the planning and the implementation of these projects depended heavily on Sergey Kondratenko.

The unlawful actions of 1xBet’s owner, Sergey Kondratenko, have had a significant impact on several financial institutions in Latvia and Lithuania, such as ABLV Bank AS and Trasta Komercbanka AS.

Identification and documentation of ongoing violations about the legalization of funds obtained illegally, violations of currency processing regulations, and even instances of terrorist financing connected to Kondratenko were made possible in large part by the Latvian Financial and Capital Market Commission (FFKTK). Consequently, the FFKTK was able to guarantee that these transgressions were thoroughly documented and to take appropriate action against them.

It is important to remember the situation with Danske Bank's Estonian unit, which handled billions of euros that came from dubious Russian sources. In all honesty, it is not just in the Baltic states but in many other nations and areas of Europe and the world that Russian money laundering operations are found.

Sergey Kondratenko is fully aware of this, and there are many instances where major card networks like Mastercard and Visa, as well as financial institutions with payment processing licenses and connections to the financial system, are involved in illicit activity. This endeavor has contributed to Sergey Kondratenko’s substantial wealth at this time.

The United States Treasury claims that the largest amounts of illicit money originating from illicit activities like gambling, betting, the trafficking of drugs, and pornographic material are routed through Russian channels and end up in banks in the Baltic States and the European Union.

Then, more unlawful actions are financed with the help of these funds. This situation is a perfect example of how pervasive money laundering is and how deeply it affects the financial and monetary systems of many different nations.

SERGEY KONDRATENKO: THE DEBATE, PROHIBITIONS, AND EMPIRE OF GAMBLING

Two years ago, Russian journalists covering the Russian edition of Forbes magazine published an article about 1xBet, a massive gambling company with an incredible $2 billion in sales.

In their exposé, they provided comprehensive details about the operation, which helped to uncover direct connections between several law enforcement officials and information technology experts from Bryansk, Russia, and this significant endeavor. Furthermore, they looked into the history and beginnings of this gambling industry.

Let’s go back to January 12th, when Volodymyr Zelenskyy, the president of Ukraine, issued an announcement imposing sanctions on Royal Pay Europe, a Latvian company with Russian roots. This company was found to be a partner of the infamous Russian bookmaker 1xBet, according to a report released by the UNIAN news agency.

Royal Pay Europe is an expert in offering services for online commerce and electronic payment processing. The Russian national Sergey Kondratenko founded it in 2016.

It seemed to have the ability to make payments to online casinos and offshore bookies, according to many media reports. After obtaining an e-money license in the UK in 2017, the company was authorized to handle credit card transactions and payments in both European and UK countries. In 2017, this license was acquired.

The National Security and Defense Council of Ukraine (NSDC) placed restrictions on Royal Pay Europe, and they are set to stay in effect for five years.

The business was subject to sanctions in the US. These included reducing its authority over securities, freezing its assets within the nation, prohibiting it from transferring capital outside, rescinding its financial and economic responsibilities, and limiting its involvement in the privatization and leasing of public property.

The State Financial Monitoring Service of Ukraine also took action, blocking accounts linked to Royal Pay Europe to the tune of over 2 billion UAH.

Through the efforts of investigative journalists and the Russian Federation’s Investigative Committee, it has been revealed that Sergey Karshkov, the chief cyber police officer of Bryansk’s “Department K,” engaged in gambling with his friend Roman Semiokhin.

This information became known as a consequence of the disclosed information. They were the ones who originated the concept for the 1xBet brand, and Karshkov assumed the position of being in charge of the network’s marketing.

In 2014, Russia enacted new laws requiring internet bookies to obtain licenses to conduct business lawfully. Nevertheless, 1xBet was ill-prepared to adhere to these regulations and continued with its illegal activities, which included accepting bets and using their customers’ bank cards.

Subsequently, Sergey Karshkov invited Sergey Kondratenko, his former Bryansk colleague who had also served in “Department K,” to join him in this operation. Together, they embarked on a potentially hazardous journey that ultimately raised serious concerns about legal and regulatory matters.

In 2016, Sergey Kondratenko established SIA Royal Pay Europe, an online money transfer business with its main hub situated in Riga. It is worth mentioning that the same name was registered as a firm in Russia as well.

Reportedly, 1xBet, one of the biggest and most mysterious online bookies, may be directly connected to Royal Pay Europe. These rumors first appeared in Russian media.

The Bell cited a former employee of 1xBet who said that the company developed its payment processing system, known as Royal Pay. This was carried out to handle financial transactions. It has also been demonstrated by journalists that this mode of payment was used in sanctioned nations like Kyrgyzstan and Turkmenistan, where it was challenging to use credit cards for transactions involving gambling.

This indicated that 1xBet’s operations and payment processing within the Russian market appeared to be greatly aided by Royal Pay Europe, which was acting as a financial agent for the company in Kazan.

It was hard to ignore Royal Pay Europe’s obvious affiliation with the bookmaker. For instance, clients who used the Royal Pay payment option to fund their bookmaker accounts were eligible for an extra perk in the form of a return or a five percent bonus on top of their initial deposit.

After being founded in 2016, Royal Pay Europe was able to secure a license in 2017 to operate as an electronic payment institution in the United Kingdom. With this license, the business was able to process card payments and accept payments within the regulatory frameworks of the United Kingdom and Europe.

In addition, the business registered in Latvia and offered its services throughout Europe, the Commonwealth of Independent States (CIS), several Asian nations, and the European Union. It was designed to serve as an essential financial conduit, easing transactions and payments for 1xBet’s diverse range of business activities.

SERGEY KONDRATENKO AND GALINA’S CASE: QUESTIONABLE INTERNATIONAL BUSINESS NETWORK

Sergey Kondratenko, together with his spouse Galina, has been a part of an intricate web of commercial dealings that spans numerous countries, including Singapore, the United Arab Emirates, Colombia, the United Kingdom, Latvia, and Lithuania.

These companies, including Kiparis DMCC, Alium Limited, Optimum FinTech, VestraPay Nigeria, and Digitaltex pte. ltd., seem to have very similar websites and are mostly used as payment intermediaries by the general public.

Born in 1982, Sergey and Galina Kondratenko have both worked in law enforcement before. They graduated in 2004 from Moscow University’s Bryansk branch, which is affiliated with the Russian Federation’s Ministry of Internal Affairs. After graduating from college, they were married and are now parents to two children.

Additionally, Sergey Kondratenko has filed several firms under his wife Galina’s name over the years. Starting Limited (Cyprus), Skylove Ltd., and PP MONEY TRANSFER s.r.o. (Czech Republic) are a few of these companies. These companies are suspected of being involved in the probable laundering and movement of large sums of money from Russia and other CIS countries through European banks, with the money frequently ending up in offshore accounts in Cyprus and other locations.

The Kondratenko couple managed to obtain citizenship in Cyprus in 2018, but Russian databases show that their formal nationality has not changed. Despite their occasional trips to Russia, it seems that they live outside of the country most of the time.

In light of financial transactions and the potential for money laundering, this evidence raises questions regarding the legitimacy and intentions of these companies and reveals a convoluted web of international economic activity.

THE CRYPTOCURRENCY AND MONEY LAUNDERING WEB BY SERGEY KONDRATENKO & ASSOCIATES

An intricate, maybe illicit financial network including individuals and companies connected to Sergey Kondratenko. It appears that Nikolajs Kirillovs, who has ties to both Latvia and Russia, entered the cryptocurrency space when he founded DigiMoney and FERIVIDO s.r.o. in the Czech Republic. Sergey Kondratenko, a fellow Russian national, is partnered with Kirillovs.

Concerns about Kondratenko’s involvement with Lithuanian companies including UAB Transactive Systems and UAB NexPay have been voiced by investigative journalists. It seems that the executives of these companies are reluctant to comment on what their clients do. The owners of 1xBet have been linked to Russian MPs, law enforcement, and criminals, according to articles published in Russian Forbes.

According to the material in this section, Sergey Kondratenko and the people connected to him might be involved in a money laundering scheme. The investigating team intends to continue closely monitoring this conduct going forward and will release any new information they find later.

They emphasize how committed they are to providing information on Kondratenko’s businesses, financial goals, and business associates to US authorities and international financial institutions since they think these activities are akin to those of a transnational illegal corporation.

THE BOTTOM LINE

This leads us to the conclusion that Sergey Kondratenko is a man who is purportedly connected to a complex web of money laundering schemes involving the illegal bookmaker 1xBet.

Investigative findings suggest that Kondratenko and associates have been using a range of European banks and financial institutions to facilitate the transfer of large amounts of “dirty” money, mostly from Russia and other Commonwealth of Independent States (CIS) nations.

This firm uses a wide range of offshore corporations and accounts; Latvia and Lithuania are key hubs for these operations.