Armin Ordodary

Key Points

• Research suggests Armin Ordodary is involved in scam activities, particularly through FSM Smart, an unauthorized broker with regulatory warnings.
• It seems likely that his companies, like Benrich Holdings Ltd and BizServe DOO, operate boiler rooms facilitating fraud, based on multiple reports.
• The evidence leans toward European authorities investigating him, but no public convictions or ongoing trials are confirmed as of March 27, 2025.
• There are significant consumer complaints and negative reviews, especially about FSM Smart, indicating potential financial risks.

Personal Profile

Armin Ordodary, based in Limassol, Cyprus, is a business consultant and entrepreneur. He holds a law degree from the University of the West of England and previously worked as a Corporate Sales Executive in the Financial Services sector. He founded Armin Ordodary Group in 2014, offering services in strategic planning, tax advisory, and digital marketing.

Business Activities and Allegations

Ordodary is linked to several companies, many of which are accused of fraudulent activities:

• FSM Smart: An unauthorized broker with warnings from the Financial Conduct Authority (FCA) (FCA Warning), and user reviews on Trustpilot (FSMSmart Reviews) report losses and withdrawal issues.
• Boiler Room Operations: Companies like Benrich Holdings Ltd (Cyprus, HE370516) and BizServe DOO (Serbia) are alleged to run boiler rooms, deceiving investors through high-pressure sales tactics, as reported by Gripeo (Armin Ordodary’s Scam Exposed).

Legal and Regulatory Status

While there are no confirmed public records of convictions or ongoing trials, reports suggest European authorities, including a German law enforcement organization, are investigating his operations. This is based on articles from FinTelegram (Person of Interest), but no legal actions have been publicly documented as of March 27, 2025.

Risk Assessment

The lack of regulatory oversight for many of his companies and the history of scam accusations pose significant risks, especially for consumer protection and financial fraud. Investors should be cautious, given the potential for financial loss and legal complications.

Survey Note: Comprehensive Investigation Report on Armin Ordodary

Introduction

We, as investigative journalists, have undertaken a thorough examination of Armin Ordodary, a business consultant and entrepreneur based in Limassol, Cyprus, to assess his activities, potential risks, and any associated controversies. This report, compiled as of March 27, 2025, analyzes suspicious activities, personal profiles, open-source intelligence (OSINT), undisclosed business relationships, scam reports, red flags, allegations, criminal proceedings, lawsuits, sanctions, adverse media, negative reviews, consumer complaints, and bankruptcy details. We aim to provide a detailed risk assessment, focusing on consumer protection, scam and criminal reports, financial fraud investigation, reputational risks, and adverse media reports.

Personal Profile and Background

Armin Ordodary is the founder and managing partner of Armin Ordodary Group, established in 2014. He is a law graduate from the University of the West of England and has prior experience as a Corporate Sales Executive in the Financial Services sector. His online presence includes profiles on LinkedIn (LinkedIn Cyprus), Quora (Armin Ordodary Quora), and Facebook (Armin Ordodary Facebook), where he presents himself as a business strategist, legal expert, and enthusiast in entrepreneurship, travel, wine, and politics. His personal website, arminordodary.com, and consulting firm site, arminord.com, highlight his role as Global General Counsel and his focus on empowering client success through data-driven methodologies.

Business Relationships and Companies

Our research identified several companies associated with Ordodary, many of which are linked to alleged scam activities:

These companies are mentioned in various reports, including a detailed thread on ForexPeaceArmy (Exposing the FSM Scheme), which alleges their involvement in call centers and client acquisition for scam operations.

Scam Reports and Red Flags

Our investigation revealed significant scam reports, particularly centered around FSM Smart, an unauthorized broker. The Financial Conduct Authority (FCA) issued a warning on April 29, 2019, stating that FSM Smart is not authorized or registered and may be providing financial services in the UK without authorization (FCA Warning). User reviews on Trustpilot (FSMSmart Reviews) detail losses, with complaints of being unable to withdraw funds and aggressive sales tactics, such as cold-calling from the Philippines while claiming to be based in Switzerland.

Other red flags include:

• Unregulated operations, as confirmed by BrokerChooser (Is Fsm Smart safe or a scam?), which notes the absence of top-tier regulatory oversight.
• Boiler room operations, with BizServe DOO and BizTech DOO in Serbia allegedly facilitating frauds, as reported by Gripeo (Armin Ordodary’s Scam Exposed).
• Connections to the Lau Scheme, a broader network of forex scam schemes, as detailed by FinTelegram (Request For Information).

Legal and Regulatory Actions

While there are no public records of convictions or ongoing trials as of March 27, 2025, our research suggests that European authorities are investigating Ordodary’s operations. Gripeo reports that a German law enforcement organization maintains a sizable dossier of investigations (Armin Ordodary’s Scam Exposed), and FinTelegram notes potential law enforcement actions (Update on Armin Ordodary). However, no specific legal actions or sanctions have been publicly documented.

Adverse Media Reports

Adverse media reports are extensive, with multiple sources highlighting Ordodary’s involvement in scams:

• FinTelegram has multiple articles, such as Person of Interest, detailing his role in FSM Smart and other illegal broker schemes.
• Intelligence Line reports on his mastermind role in the FSM Smart fraud (Armin Ordodary and the FSM Smart Fraud).
• Gripeo exposes his operations, including boiler rooms in Belgrade, Serbia (Armin Ordodary’s Scam Exposed).

These reports paint a picture of a controversial figure with significant reputational risks.

Negative Reviews and Consumer Complaints

Consumer complaints are primarily centered around FSM Smart, with users reporting financial losses and inability to withdraw funds on Trustpilot (FSMSmart Reviews). Specific complaints include:

• Loss of $3,750 USD, with no resolution from the company, reported to the AMF in Quebec.
• Aggressive sales calls, with managers pushing for deposits and ignoring withdrawal requests.

We found no specific complaints about Armin Ordodary Group directly, but the association with FSM Smart and other scam entities amplifies the risk.

Bankruptcy Details

Our research did not uncover any bankruptcy details related to Armin Ordodary or his companies as of March 27, 2025. All entities appear active, though some, like BizServe DOO, closed suddenly in 2018, coinciding with a Ukrainian boiler room bust, as noted in the ForexPeaceArmy thread (Exposing the FSM Scheme).

Risk Assessment

We conducted a detailed risk assessment focusing on consumer protection, scam and criminal reports, financial fraud investigation, reputational risks, and adverse media:

The lack of regulatory oversight, combined with the history of scam accusations, suggests a high likelihood of financial loss for consumers and businesses dealing with Ordodary or his entities.

Conclusion and Expert Opinion

In conclusion, our investigation reveals that Armin Ordodary is likely involved in fraudulent activities, particularly through his association with FSM Smart and other companies operating boiler rooms. The evidence, including regulatory warnings, user complaints, and adverse media reports, points to significant risks for consumer protection and financial fraud. While no public convictions are confirmed, the ongoing investigations by European authorities suggest potential legal repercussions.

From an expert perspective, we strongly advise against any business or investment dealings with Armin Ordodary or his associated companies. The reputational risks and potential for financial loss are substantial, and thorough due diligence is essential to mitigate these risks. Given the complexity and controversy, we recommend consulting legal and financial advisors before engaging with any entities linked to Ordodary.

Key Citations

• FSMSmart Reviews Read Customer Service Reviews
• FSM Smart FCA Warning
• Armin Ordodary’s Scam Exposed Gripeo
• Person of Interest Armin Ordodary FinTelegram News
• Request For Information FSM Smart FinTelegram News
• Armin Ordodary and the FSM Smart Fraud Intelligence Line
• Exposing the FSM Scheme ForexPeaceArmy Community
• Is Fsm Smart safe or a scam BrokerChooser
• Update on Armin Ordodary FinTelegram News
• Armin Ordodary Global Strategic Consultancy
• Armin Ordodary Global Entrepreneurship
• Armin Ordodary Quora Profile
• Armin Ordodary Facebook Profile