Ponzi Scheme TadawulME / Exential Group:

[riderX]

Despite various claims, many have been paid since November including myself however it did come later than usual.
Yesterday, I received my December profit so they are slowly catching up on the backlog.
Despite all the fear mongering tactics at play by some of the usual suspects on this thread, I am quite confident in my investment.

I dont have any "investments" with exential but 100% of the people I know who has (5 people to be exact) did not receive their november profits yet. Plus include the people who are posting on tadawul/exential FB page. And yet, you said that you already got your december profits? R u from GOA? maybe they prioritize their countrymen. (FYI: Majority of the people in linkedin associated with Exential Group are from GOA and Lemos is from GOA. And I dont see any director/ceo, or trader, or accountants. Majority are relationship managers. A forex trader of this caliber (consistently making 7-10% every month) should be very proud and flaunt their association with EG in their linkedin profiles. They will be getting job offers from banks/insurance companies.)

 

[sam_dubai]

Guys, Just be aware of this co. they treat you like objects, once they are able to extract the 78000 AED and the amount is credited to their BOB account, then see the treatment....and it takes 2 weeks to start the account trades, the trades just doesnt matches with the website and the next day it gets corrected. When i got the sense of ... something not correct, i asked for the audited P&L and B/S i was flatly refused and advised to close the account....when i asked to see the trades physically, i was told that it is done by Robot (SIC).

i closed the account in 2 weeks of opening, which i was told will be paid on 21st working day from the closure, i asked why, i was told it is mentioned in the contract. I had to literally drag them to the conversation, saying that page no. 5 says "within" and not "after". After being a serious pest for next few days, on 21st working day i was told 2 more days. I lost all my cool and said, if you dont give it to me today, i will report this to the government.

That did the trick, i got the money the same day....

Guys, just withdraw and run in the opposite direction. This is the beauty of a ponzi scheme, no one knows till the time it closes down, BUT, before closing down (thanks to the internet) there are enough indications. JUST BE VIGILANT.

My personal story, my father has lost his life saving in a Ponzi scheme in 1996, unfortunately, then, there was no internet for spreading news/education.....LEARN FROM OTHERS MISTAKE....otherwise...EXPERIENCE IS THE BEST BUT MOST EXPENSIVE TEACHER...Take Care and BeSafe

 

[SilentSpectator]

i closed the account in 2 weeks of opening, which i was told will be paid on 21st working day from the closure, i asked why, i was told it is mentioned in the contract. I had to literally drag them to the conversation, saying that page no. 5 says "within" and not "after". After being a serious pest for next few days, on 21st working day i was told 2 more days. I lost all my cool and said, if you dont give it to me today, i will report this to the government.

That did the trick, i got the money the same day....

Hi Sam, when did you get your withdrawal? I guess the threat of reporting them to the authorities still works. For those still waiting for your funds, might be a good idea to do the same.

 

[SilentSpectator]

I dont have any "investments" with exential but 100% of the people I know who has (5 people to be exact) did not receive their november profits yet. Plus include the people who are posting on tadawul/exential FB page. And yet, you said that you already got your december profits? R u from GOA? maybe they prioritize their countrymen. (FYI: Majority of the people in linkedin associated with Exential Group are from GOA and Lemos is from GOA. And I dont see any director/ceo, or trader, or accountants. Majority are relationship managers. A forex trader of this caliber (consistently making 7-10% every month) should be very proud and flaunt their association with EG in their linkedin profiles. They will be getting job offers from banks/insurance companies.)

I have some friends who are still involved in this scheme, and among them, only one received her November profit. She's not from India though. But none-the-less, it is still alarming that the issue is still on November profits even though we're on the second week of February.

 

[Coaster]

Same!

Weird... Anyways - Just keen to hear who the lawyer is and how they can help as I have mine on standby. When I alerted her to EG she just rolled her eyes at me....

 

[investorone]

So what does that mean - well I do believe they are 'registered' with ASIC - but there are no checks and balances in place for this to happen, essentially is just a business setup - which if you search through the documentation anyone can do. The key is the AFS licence, with it Exential would have to comply with the above, without it they are free to do what they want.

So will you put your money on their Company if they do have that 'AFS license'?

 

[Forca Goa]

It took me some time to read all these blogs ..... All I hear about some people saying this is bogus scheme and yet some are saying they are enjoying good returns ......yet there is no one in this blog to say they have lost money investing in Exential.....Also for some who have invested are worried they might loose money......
Let's use some logic when you invest in Forex or Shares or bond nothing is guaranteed but yet you take a risk.... If it works you have won if not you have lost.
I find it funny where people are saying it's bogus or scam .... You have not provided evidence to prove that is the case .... So for me personally your waisting your time ..... Initial blog from the director has requested if you are in doubt to visit their office and they are happy to furnish you with all details......for those of you who have invested and in doubt you are free to withdraw your funds at anytime .....rule no one in investment only invest if you can afford to loose .... So stop moarning and if you don't have the dosh stay put.....As for me I am happy to take a risk.....

 

[riderX]

1. It took me some time to read all these blogs .....
2. yet there is no one in this blog to say they have lost money investing in Exential.....Also for some who have invested are worried they might loose money......
3. Let's use some logic when you invest in Forex or Shares or bond nothing is guaranteed but yet you take a risk.... If it works you have won if not you have lost.
4. I find it funny where people are saying it's bogus or scam .... You have not provided evidence to prove that is the case ....
5. So for me personally your waisting your time .....
for those of you who have invested and in doubt you are free to withdraw your funds at anytime
7. As for me I am happy to take a risk.....

1. Did you actually read all the blogs here? if yes, then answer all of pharaohs questions/challenges.
2. Nobody has lose his/her money yet because if that happens (which is only a matter of time), meaning this scheme has already collapsed. We are concerned about those who just put in their money now because they will lose everything.
3. Investments indeed has risks but you cannot call this as an investment. Its a scam.
4. Please enlighten us also why it is not a scam.
5. Their (the likes of pharaoh, etc.) time is not "waisted". Its the least they can do educate people and make them think twice.
6. Read MMA forex and how it devastated peoples lives. Or just read any of the stories of ponzi victims. If you have recovered your principal, the risk that you are taking is called karma, especially now that you have all the logic to believe that its a scam. Risk that karma will get back on you or your children.

 

[sweater]

It took me some time to read all these blogs ..... All I hear about some people saying this is bogus scheme and yet some are saying they are enjoying good returns ......yet there is no one in this blog to say they have lost money investing in Exential.....Also for some who have invested are worried they might loose money......
Let's use some logic when you invest in Forex or Shares or bond nothing is guaranteed but yet you take a risk.... If it works you have won if not you have lost.
I find it funny where people are saying it's bogus or scam .... You have not provided evidence to prove that is the case .... So for me personally your waisting your time ..... Initial blog from the director has requested if you are in doubt to visit their office and they are happy to furnish you with all details......for those of you who have invested and in doubt you are free to withdraw your funds at anytime .....rule no one in investment only invest if you can afford to loose .... So stop moarning and if you don't have the dosh stay put.....As for me I am happy to take a risk.....

So why you are here wasting your time reading these blogs? If your are happy then be it. But you cant stop people from doubting EG in their current situation..We heard enough of this " Invest what you can afford to lose" The question.. is your investment with EG were invested/traded? Visit their office? common...

 

[SilentSpectator]

It took me some time to read all these blogs ..... All I hear about some people saying this is bogus scheme and yet some are saying they are enjoying good returns ......yet there is no one in this blog to say they have lost money investing in Exential.....

Precisely the point. Losses are normally incurred by legitimate investment vehicles. If you have any other non-Exential experience with Forex, Stocks, and even mutual funds, you would be able to cite a couple of instances where your funds incurred monthly or annual losses. Throughout its existence, Exential has never declared any monthly or annual losses despite the turbulent economic conditions these past years. This is not normal, in fact, it's alarming. If your investment vehicle is unaffected by economic road shifts, it probably means your not driving on the road.

Let's use some logic when you invest in Forex or Shares or bond nothing is guaranteed but yet you take a risk.... If it works you have won if not you have lost.

Smart investors take calculated risks. They make sure they do their due-diligence in researching their options before they commit. They ask for others' opinions and they give value to advice received from other more experienced people. They engage in healthy debates much like most of the discussions in this forum. I agree that you have to take risks in order succeed at anything, but you must consider the risks you take carefully. You don't just funnel all your money digging up dirt on your backyard in hopes of finding some buried treasure. I know someone who did, but I do know many more who didn't.

I find it funny where people are saying it's bogus or scam .... You have not provided evidence to prove that is the case .... So for me personally your waisting your time .....

People are saying that it ticks the boxes of being a scam. A scam is never proven until it's already too late. When it's too late, more than 90% of the conversations in this thread will be useless. So these discussions should be had now when they are still useful.

rule no one in investment only invest if you can afford to loose .... So stop moarning and if you don't have the dosh stay put.....As for me I am happy to take a risk.....

I'm not sure if you know, but some people who are invested in the scheme took loans on their RM's advice. This means they can't afford to lose money. You may be happy to take your risk, but think about the others that don't know what they're doing. During these times of economic uncertainty, it would really help if we looked out for each other. World Peace and Prosperity to everyone.