Ponzi Scheme TadawulME / Exential Group:

Guaranteed profits become guaranteed losses.
Are they back in operation? MyFXbook says there's trade activity this week but office was still locked yesterday.

I love it how they can keep 'trading' even with the magical 'trading' room shut down. I'm waiting for the following response though - "Our automated strategy, which is based offshore and which we have remote access, has proven, that even in these difficult times for EG, that we are a 'legit' organisation. Who despite all best efforts of those wanting to shut us down, we have continued to prove that if you have a little (lot) more patience then we will pay you 7% per month".

Funny how as they have remote access to continue trading (which will be the next dribble spun from their PR fanboys), they don't have remote access to pay all those waiting for their capital returns.
 
With DED shutting them down, they will have big trouble banking.

I believe they started with good intentions- and probably even were legit at some point, but only the very best of the very best can consistently make good returns, and the Achilles heel of forex trading is that with the leverage, when things go bad- they go real bad. So they lost a ton of equity and still tried to cover by reverting to the Ponzi method. Then it all comes crashing down.

After being to their office and meeting Sidney, it seemed highly improbable that they were consistently making the stated returns, and were properly managing tens or hundreds of millions of client funds.

Shortly after, in October - I got out. My buddy got stung for 120K though- ouch!
 
Hello everyone just joined is there anyone that has paid and filed a complaint with DED 2200aed is not so little right now to add to this situation am in what are they actually offering. I mean if I just pay and if they just tell them to pay and nothing else what do I get. Am already stressed with money
 
Some desperate EG stooge is actually telling people that MMA is paying people off and that court cases didn't do anything for those who sued them.
What a pathetic attempt to dissuade people from filing cases against them ? Guess what ? It is TOO LATE . Nobody believes your BS anymore.
This is what happens when you have white sofas fit for Cavalli club in meeting rooms for clients.
Forget Mark Menezes, Where is Sydney, Valany, Naman, Anthony, Prince Daniel ? When was the last time anyone saw them ? Maybe Mark Anthony MABUNAY can post evidence of their presence in Dubai with a current dated newspaper ???
 
Some desperate EG stooge is actually telling people that MMA is paying people off and that court cases didn't do anything for those who sued them.
What a pathetic attempt to dissuade people from filing cases against them ? Guess what ? It is TOO LATE . Nobody believes your BS anymore.
This is what happens when you have white sofas fit for Cavalli club in meeting rooms for clients.
Forget Mark Menezes, Where is Sydney, Valany, Naman, Anthony, Prince Daniel ? When was the last time anyone saw them ? Maybe Mark Anthony MABUNAY can post evidence of their presence in Dubai with a current dated newspaper ???

I have a scenario for you Dredd, for example you have a company and it is under investigation.. Will you run away and get out of the country? If you say YES. Then, people will understand what kind of a person you are.

Secondly, why do you think EG employees are still in the CLOSED office answering questions from investors?? Can they just dissapear as well?
Look in the brighter side mate! Next week, you wouldn't know the office will re-open again. Be on the positive side and don't just say awful things.
 
Another concern, if I may, directed particularly at EK cabin crew. A very good friend who's a purser at Emirates recently flew with a male Cabin Supervisor, from North Africa (possible Tunisia) who's actively promoting UT to other crew. He's even set up a Facebook group and from what I gather, earns a tidy commission for each new entrant....or should I say 'victim'.

Please, not only is this warped, selfish and dishonest individual perpetuating this scam, but he's actually complicit in this despicable act of defrauding crew of their hard earned money. He should be named and shamed. UT is finished but he continues to sell the product in the vain hope of not only obtaining commission on your money, but on a healthy return to his initial investment. He has a vested interest so should be avoided at all costs......as should UT.

Caveat Emptor!
 
There is no such thing as collective case. It will still be individual and I suggest you consult a lawyer that you knew personally. Check with him the chances of winning and how much money you will need to pay.
As I heard - if you have one account with EG, the minimum amount you will pay will not be less than 10K dhs ++.
We don't have yet the final say of DED and to those who are putting EG in hole, I hope you can get your money back.

That's right. Do EVERYTHING you can to discourage people from reporting to authorities, attempting to form class action groups, or even to hire a lawyer. That will give the organizers that much longer to hide the money.

People listening to this sort of propaganda is why this obvious Ponzi managed to run this long without getting shut down. If everyone with suspicions had taken those to lawyers, accountants, and the authorities when this things started, there would be a lot less people wondering where their money is.

Another concern, if I may, directed particularly at EK cabin crew. A very good friend who's a purser at Emirates recently flew with a male Cabin Supervisor, from North Africa (possible Tunisia) who's actively promoting UT to other crew. He's even set up a Facebook group and from what I gather, earns a tidy commission for each new entrant....or should I say 'victim'.

Please, not only is this warped, selfish and dishonest individual perpetuating this scam, but he's actually complicit in this despicable act of defrauding crew of their hard earned money. He should be named and shamed. UT is finished but he continues to sell the product in the vain hope of not only obtaining commission on your money, but on a healthy return to his initial investment. He has a vested interest so should be avoided at all costs......as should UT.

Caveat Emptor!

Try to get video's of this scumbag. Then, when UT closes down, you can supply those to his victims and to the authorities.

And, as long as you've personally witnessed what he's doing, I don't see why you can't name and shame right now.

Look in the brighter side mate! Next week, you wouldn't know the office will re-open again. Be on the positive side and don't just say awful things.

Forget all the red flags and pitiful explanations provided by the scammers. Always look on the bright side of life!

 
Will speak with my friend and ask them to report him to the Company. I'm not cabin crew so don't know this individual. Apparently Emirates Group Security have already published an article in the in house magazine warning staff against joining such schemes. Too late for many I suspect.
 
Will speak with my friend and ask them to report him to the Company. I'm not cabin crew so don't know this individual. Apparently Emirates Group Security have already published an article in the in house magazine warning staff against joining such schemes. Too late for many I suspect.

Any chance of getting and posting a copy of that article? Does it come in English? (post it either way)

I hope your friend can come here and do what's needed to expose someone knowingly recruiting for a Ponzi.
 
Was in English and basically warns staff to be aware of 'investment schemes' offering huge returns. It went on to say what a 'ponzi' scheme is, how they work and to avoid unregulated Companies. Also warned about fellow colleagues peddling it for their own benefit. That was it basically, hardly worth copying it for here but will see if I can access it anyway. Problem is, despite whatever we post on here or whatever we say to warn those against joining, all they see is the dollar signs and how much their 'mates' are raking in and want a slice of the action. You could tell them until you're blue in the face but they still go ahead and hand over wads of cash. The ONLY way these people will ever learn is when they stop getting paid and the crooks take off. It's human nature though.....how many times do you tell a young child not to touch a hot stove or radiator. They'll never fully understand the danger or consequences until they actually do......then will never do it again!
 
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