Ponzi Scheme TadawulME / Exential Group:

[investorone]

I have a few friends from Emirates Airlines involved in this scam. They all invested knowing it is a scam, but they "try their luck". . I've tried to dissuade them from opening accounts, to no avail, and they are all in it for long enough to get their money back. Still, i'd really like to see this scam out in the open. "The National" article is a start but they didn't name any company. Is there any way to get this company investigated or to get more clarity on the their operations ?

If you really care about your friends on Emirates Airlines you may go directly to any Police Station in Dubai and file a complaint. Tell them that this Company is scamming people including your friends. Bring your passport with you.

 

[totalpips]

I have done a little digging as well... Something piqued my interest in an earlier post from @SilentSpectator . Having a look at the domain registration details for Exential brings up a registration page which is protected by Domains by Proxy... Registration creation on 25-06-2012. Now if you check FCI Markets domain registration details, you see creation date of 27-03-2012. Both are using Domain by Proxy protection and both have been purchased through GO Daddy.

Now I am stretching a little bit, but given the sheer amount of companies registered per day through Go Daddy, one could reasonably argue that sure, two companies purchase through the same domain service only a couple of months apart - however, two companies that are intrinsically related in a potential Ponzi Scheme, being incorporated using the same MO, through the same Domain registrar using the same proxy protection, whilst they are supposed to be worlds apart?

Raises some serious questions - I ain't stupid enough to lay my thoughts out in the open here, but I think people are smart enough to make their own assumptions based on the above.

 

[Minto]

Bingo!!!!!

Look like everyone is big invester.
I have positive about excential despite of all above comments. They exist still and based firm at same location. Whatever comments I saw are only assumption to hace loss or similar but practically people earned money from them. So I think if anyone has problem or heggie must go for legal actions instead of surrounding here on portal.
Well investment is RISK thats everywhere... People who invested past one year are earning profit on profit.

 

[riderX]

Bingo!!!!!

Look like everyone is big invester.
I have positive about excential despite of all above comments. They exist still and based firm at same location. Whatever comments I saw are only assumption to hace loss or similar but practically people earned money from them. So I think if anyone has problem or heggie must go for legal actions instead of surrounding here on portal.
Well investment is RISK thats everywhere... People who invested past one year are earning profit on profit.

Technically, this is not an "investment". If you are not sure where your profits are coming from, more so if there are indications that your profits are coming from other peoples money (aka SCAM), and still you pursue with this so called "investment", you are not different from a crook. Low level scumbag. Hope Karma will hit you big time.

 

[Minto]

I do agree with you. This is not an investment for you BUT for many new invester it is where they make money on money.
Still you did not understand my post (go back and read).. All are talking about on perticular matter without practical loss, but assumption. And even after assumption exential gave back their investment by any way. For a basic investor who take loan and expecting some resturns - these terminology really doesnt matter.
Be practical instead of reading theories.

 

[SilentSpectator]

Bingo!!!!!

Look like everyone is big invester.
I have positive about excential despite of all above comments. They exist still and based firm at same location. Whatever comments I saw are only assumption to hace loss or similar but practically people earned money from them. So I think if anyone has problem or heggie must go for legal actions instead of surrounding here on portal.
Well investment is RISK thats everywhere... People who invested past one year are earning profit on profit.

The proper time to file for legal action is when it is already too late.

 

[SilentSpectator]

I do agree with you. This is not an investment for you BUT for many new invester it is where they make money on money.
Still you did not understand my post (go back and read).. All are talking about on perticular matter without practical loss, but assumption. And even after assumption exential gave back their investment by any way. For a basic investor who take loan and expecting some resturns - these terminology really doesnt matter.
Be practical instead of reading theories.

There are no doubts that Exential is paying out. The problem lies on the fact that the payouts do not match the actual fund performance shown on myFXBook. Now if that doesn't trigger any warning bells...

 

[riderX]

I do agree with you. This is not an investment for you BUT for many new invester it is where they make money on money.
Still you did not understand my post (go back and read).. All are talking about on perticular matter without practical loss, but assumption. And even after assumption exential gave back their investment by any way. For a basic investor who take loan and expecting some resturns - these terminology really doesnt matter.
Be practical instead of reading theories.

Agree. We cant demonstrate "practical loss" yet because Exential is still paying out. But as what silenspectator said, the payout doesnt match the actual fund performance. Again, if you dont understand how you are getting "returns" from this so called investment, and if it ticks various indicators that its a ponzi (knowing that other people will suffer if this scheme will collapse), and STILL you continue solely on the basis that you are getting your "returns", then dude, greed will catch up to you. More than being practical (just earning money), try to be logical and for once, be human and think of the consequences of your actions. Pull out now. damage has been done, yes, but the earlier this will collapse, the lesser the victims.

 

[totalpips]

There are no doubts that Exential is paying out. The problem lies on the fact that the payouts do not match the actual fund performance shown on myFXBook. Now if that doesn't trigger any warning bells...

Well @SilentSpectator, the are having problems paying out (again).... A very long winded email has been sent to clients, not really explaining why the delays - more of the typical dancing round the facts 'We understand that in the past few months we have been facing banking issues due to which there has been a delay in you receiving your funds which were initiated a while ago. The issue that we faced with regard to the continuous banking restrictions and limitations from the brokers is now easing out.'. That's just a small excerpt.

So a friend of mine initiated his withdrawal for the month of November on the 1st of Dec. Given that its is now the 13th, makes it almost a month overdue... a few more days and it will be...

 

[SilentSpectator]

Well @SilentSpectator, the are having problems paying out (again).... A very long winded email has been sent to clients, not really explaining why the delays - more of the typical dancing round the facts 'We understand that in the past few months we have been facing banking issues due to which there has been a delay in you receiving your funds which were initiated a while ago. The issue that we faced with regard to the continuous banking restrictions and limitations from the brokers is now easing out.'. That's just a small excerpt.

So a friend of mine initiated his withdrawal for the month of November on the 1st of Dec. Given that its is now the 13th, makes it almost a month overdue... a few more days and it will be...

Yikes, here we go again...