Ponzi Scheme TadawulME / Exential Group:

Guaranteed profits become guaranteed losses.
Hi everyone. Does anyone in this Forum has any education in Forex? Do you know the link between trader-broker-liquidity provider?
Maybe Exential is a ponzee, maybe not, or maybe they lost money trading.
If i was to believe what they re saying, it fall under the brackets of the liquidity provider. The bank which they are dealing with is restrained with the amount of money they can transfer everyday. Which is a very common thing which happen to big hedge fund if they haven't done a good homework prior to starting their business.
Now, the secong option is a pyramid scheme. But this option is nearly out of the equation, as they would have closed a long time ago.
Third option can be quiet realistic. They have lost funds trading. Which happen to a lot of hedge funds. And Exential is not as transparent as we would like them to be.
EG: myfxbook performances should show the exact amout of money thats coming in and out. (Client funds). And it does not. But 10% a month every single month is IMPOSSIBLE. It might be 8.3, then 9.1 etc... As well, they never want to say the name of their liquidity provider. Which in a way i understand when you see the amount of cheap investors such as the crew who will do their best to put stick through their wheels.
Now, if they have lost the money, it is part of the game and no one can do anything. Its a normal business process. You took risk and you lost. No one goes to jail, or whatever some people are wishing them.
Those are my thoughts.

I'm surprised that you are downplaying the possibility of the second option. MMA Forex lasted for a similar period of time before collapsing. It is more likely that Exential is a combination of options 2 and 3 where 3 is merely a front to make the whole thing appear real. Option 1 is clearly out of the picture since the fund reported nothing but monthly gains since day 1. If they lost money, it's probably because someone packed it in his bag.

Notice the coincidence that payout problems occurred as more and more withdrawals were being initiated? Ponzi schemes run well as long as enough new money comes in. When money coming out is greater than what's coming in, that's were the problem starts.
 
Always suspected this was a ponzi scheme, if not, then a grid trading ea openning both longs and shorts / or a martingale strategy ea. Eventually they do collapse.

But what got to me is, how did they manage to manipulate their myfxbook account? Only way to do that is if you are the broker and trader at the same time. Anyone have any ideas?
 
Nick read your contract!!
It is very clear in black and white and both parties signed the contract that EG will return our capital in 20 days if we cancel the investment.
I agree with you. It is clearly shown on the contract. Has anybody checked if Sydney and his wife is still in Town or they runaway. I came to know that Mark Mezenes disappeared almost at the same time when Exential started playing game in delaying profits (around Dec 15, Jan 15). Does anybody know where Mark Mezenes is? He was from Goa and close to Managing Director. my guess is he has something to do with this Ponzi scheme.

I agree with you. It is clearly shown on the contract. Has anybody checked if Sydney and his wife is still in Town or they runaway. I came to know that Mark Mezenes disappeared almost at the same time when Exential started playing game in delaying profits (around Dec 15, Jan 15). Does anybody know where Mark Mezenes is? He was from Goa and close to Managing Director. my guess is he has something to do with this Ponzi scheme.

(Typo mistake) sorry Jan 16
 
Dear members ,

As we all know and as I have mentioned in my last post ,the company was visited by DED and was ordered to shut down temporarily until a resolution is in place and the company can operate again . this has happened just Monday .

NOW , there is some events that is worth mentioning so everyone can make up their mind about what's going on, as we know the LOCAL newspaper that first tried to point fingers to Exential without naming them with absolutely no proof what so ever (which is a must in journalism), which took place on the first month when the transfer crisis broke down with Exential and the article was out to help fire up individuals who were driven by rumors derived from UT MARKETS in specific .Second article came in right after the upgrade of the product and as it was a sign of correction the second article blasted as vague as the first one but with leads given so clients can pose complaints to officials and fire up the situation .
Now after only 2 days from DED event, the paper issues two articles on the spot to make sure they add Fuel to the Fire in the right time ! What we need to ask ourselves is: Does this look obvious as a plot to create confusion in favor of a specific purpose which is destroying Exential ! or they just have perfect timing in writing this articles every time !

And so , a little bit of work was needed to let everyone know that the PAPER obviously has not any sense of responsibility in writing authenticated information ,rather just any information for the Scoop ! Pls read the article below before you continue reading the OFFICIAL information from Exential regarding the individual in the photo inside the article so you can understand the SITUATION and how clients are being manipulated against Exential !

http://www.thenational.ae/uae/exential-investors-tell-of-how-losses-have-affected-their-life-plans

**Exential would take this opportunity to shed a little light on the very recent article in a local daily about a ungrateful client working with a local yet one of the worlds best airlines, who took the opportunity to become a little known to the people of UAE.
It was reported that this client had borrowed money to invest in 3 accounts, which was not the case. This client invested with Exential not with 3 but 5 accounts in October 2014.
Within 7 months he closed 2 accounts collecting a pure profit that was transferred to his bank account along with the capital (Profit Aed 84680 plus his initial capital of Aed146200)
Within 15 months he further closed 2 more accounts whereby collecting a pure profit that was transferred to his bank account along with the capital (Profit Aed 183565 plus his initial capital of 146200)
The 5th account was closed in May 2016 and Exential agrees that the capital funds of this account are still not paid out along with profits worth Aed 26703.
However Exential claims that on this 5th account the client has collected and paid to the bank account of the client a pure profit of Aed 91782.
What is most important, the client opened 3 additional accounts in November 2014 and closed the same all 3 within 6 months. As usual the client collected pure profit that was transferred to his bank account along with the capital (Profit Aed 106185 plus his initial capital of Aed 219300)
2 more Accounts were opened via internal transfer( which is pure profit) in January 2015 and same were closed in 4 months. For this period the client collected pure profit that was transferred to his bank account along with the capital ( Profit Aed 35359 plus his internal transfer amount of Aed 146200)

Summary:
Client invested a total amount of Aed 584800 towards 8 accounts and further internally transferred Aed 146200 to add 2 more accounts from the profits accumulated in the 8 accounts.
So the total invested was 10 accounts including internal transfers which sums up to – Aed 731000.
Till date client has got paid to his bank account pure profits on all his investment Aed 501570 minus two internal transfers which is pure profit was used to create two accounts valued( Aed 146200)
Till date client has received his capital of 7 accounts transferred to his bank account of Aed 511700.

The client has the audacity to claim in media that he could not get married or has postponed his marriage because of a loan when Exential has paid him
Aed 867070 compared to the Aed 731000 he invested with Exential.

I guess its all about running away from the marriage maybe…..

** Now as we see that the PAPER which is supposed to broadcast the truth to its readers and is responsible about it, and as they have copied my last post as it is and posted in their article , lets see if they have the decency to do so with this article which the information contained CAN BE VERIFIED 100% and supported documents exist ,they never bothered to even call Exential to check their information ! most importantly the individual(Argentinian national) they have interviewed and has his photo in the article which is LYING FOR A PURPOSE and after some digging about him , he has a previous case of FRAUD where he has tried to BRIBE an official in DUBAI and was exposed and he was lucky enough to not be deported ! but maybe this time he wont be so lucky !! making false statements to a National Paper !

Encouraging everyone to complain even more as on some FACEBOOK groups also as well to the officials ( which they know about the situation obviously , worth mentioning as well that the PAPER info about the agency which shut down the company for now was not as they titled another article ( Financial regulators shut down currency scheme in Dubai)
http://www.thenational.ae/uae/financial-regulators-shut-down-currency-scheme-in-dubai
Rather it was DED , so the issue here which is in question , if the PAPER made a mistake about it , they need to correct it and if they don't really know the difference then we question the authenticity of their intentions !

Finally the title of the article this post is about (Exential investors tell of how losses have affected their life plans) .
I'm an investor like everyone else , Exential has not paid me all this time , I have been with them for a long time so I actually made up my investment and I'm hopeful that I will get back everything, as logically if they do not intend to pay us then why are they still here!! however some of us has not yet recovered all the capital or maybe new investors has not maybe recovered more than one profit, so we must ask ourselves a question , if this company has made it clear that their intention is to pay everyone back ! stepping over them will get that for us ? they are trying to recover over and over again but they are getting hit over and over with the results of some IMMATURE investors actions that has got us here along with the HOLY WAR on social media driven by the GHOST company since day one !

Everyone has forgotten that this investment is in the stock market ! they act as if this investment is a 0% risk free , everyone took this risk willingly to improve their status and everyone must understand also that the risk of losing does exist ! the question is now this paper has not mentioned anything to readers about the stock market or FOREX in specific which leave us to wonder , do they really know anything about it !
I apologize if my post was long , but it was a must to highlight this FAKE CRYING STORY which is meant to lure the general opinion in such a cheap way !
Finally what I know is that the issue will be resolved sooner or later and the office will be open as the company will not shut down .

Thank you .
There is only one LOSER who is capable of such a long lost that make people age rapidly when attempted to read. And that LOSER is no one other than MARK ANTHONY MABUNAY, the EG stooge who claims he is a FBadmin/student/investor/expert/investowhizard.....the same LOSER who closes comments on his posts and bans people on the FB group.
Too bad, you can't act like S*** here .
 
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And for those who are defending UT, Karma is a B*#*@h..... You never know when it comes and bites your ass. They have started delaying tactics 3 weeks ago and anyone who claims otherwise is a LIAR who is praying for people to continue investing so he/she can make money at their expense.
No easy money out there except for the crooks at EG & UT. For everyone else it is just an ineffective lesson in stupidity which you failed to understand leave alone learn....
 
There is only one LOSER who is capable of such a long lost that make people age rapidly when attempted to read. And that LOSER is no one other than MARK ANTHONY MABUNAY, the EG stooge who claims he is a FBadmin/student/investor/expert/investowhizard.....the same LOSER who closes comments on his posts and bans people on the FB group.
Too bad, you can't act like S*** here .
Exential is trying out of complete desperation to justify their acts and Lies. Writing such long email can not justify their acts at all. It just makes the big lier looks bigger. I strongly suggest to continue raising your voice and your complaints and Do NOT give-up on them. I know for sure RM such as MARK Mezenes and some other RMs were aware of the situation and they kept lying to Us.
 
Just came to know that MMA forex has opened their office again in the same place and are in the process of paying back clients please anyone confirm if it's true
 
Hi guys, I'm new here... I have also invested in Exential Group and just came to know that they are closed so I went to there office to make sure and I seen the office was seized and found 3 of Exential Group employees sitting on the floor out of the office to explain what happen and saying the office will open soon.

Please help me I need some info on how to move forward to join the group and get in touch with the lawyer so I can file the same complain as all.

Highly appreciate a reply from anyone who can give me the details, thanks in advance.
 

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the guy from MMA Forex only got 2 years in prison?? Not bad for how much money he probably saved somewhere offshore...
 
Hi guys, I'm new here... I have also invested in Exential Group and just came to know that they are closed so I went to there office to make sure and I seen the office was seized and found 3 of Exential Group employees sitting on the floor out of the office to explain what happen and saying the office will open soon.

Please help me I need some info on how to move forward to join the group and get in touch with the lawyer so I can file the same complain as all.

Highly appreciate a reply from anyone who can give me the details, thanks in advance.
 
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