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Turning Winners into Losers: When Ponzi Schemes Collapse : Clawbacks
In a typical Ponzi scheme, early investors earn “profits” not through any legitimate investment activity on the part of the Ponzi scheme operator; instead the operator simply transfers money that later investors deposit to the earlier investors who seek redemptions. Lately they are advertised as Forex algorithms. As such, when the scheme goes bust, as it must, the Ponzi scheme operator will not have enough money to cover all of the investors’ deposits, let alone the earnings on those deposits that the investors thought they were owed.
Legally, the scheme’s winners – i.e., those who withdrew more money than they deposited – can be compelled to return their fictitious profits to help defray the losses to the scheme’s losers. They are required to do so even if they did not know, and had no reason to know, that theirs was not a legitimate investment.
This is called a "clawback" which allows victims to seek the return of funds distributed to investors, even from those who were fortunate enough to have turned a profit or redeemed their investments before the schemes unraveled.
Many cases have won in court, whereas “net winners” are required to pay back past withdrawals to be redistributed to the larger pool of victims.
The chances of getting some money back are greatly increased when the names of complicit individuals are identified. Direct legal action can be taken against those who promoted, or enjoyed commissions from bringing in new clients.
The complicit members of a Ponzi scheme are known as "Promoters": the majority are aware the scheme is fraudulent, but they do their utmost to ensure the scheme stays alive as long as possible to maximise their profit.
Promoters use their network of "friends"/"acquaintances"/"work mates" to keep the scheme going to secure their own interest - profit from others joining after them. Facebook groups are now the standard weapons used by these promoters.
These groups are full of optimism, positivity and mutual congratulations of high returns. They feed on greed and the social approval of members all enjoying returns that out-strip any other financial instrument. They just egg each other on.
All these groups look like independent forums - the reality is they all have to remain positive for the Ponzi to continue and grow. Any legitimate questions or negative posts are deleted immediately. Anyone with valid questions is banned from the facebook group. Only positive comments that encourage others to join the Ponzi are allowed.
Tadawul/Exential has taught the intelligent people a lesson. Unfortunately UT has convinced the remainder that they can double their money in 6 months, beating the rest of the financial world. If true, all businesses would close, sell their assets and invest in UT instead of trying to turn a profit running a legitimate enterprise.
UT has now delayed profits - due to banking changes - deja vu Exential
UT does not allow account closures - min 3-6 months wait - deja vu Exential
UT does not respond to emails or whatsup(what a unprofessional and suspicious communication technique from a financial institution anyway!), telephones are disconnected.
As with all Ponzi schemes, they start to unravel when more people leave than are coming in. Liquidity issues. Ponzi schemes always spin it as banking issues. The truth is, there is not enough new money to pay the old. There is not enough money left to pay profits.
UT seem to have a viable strategy: lose money on their fake FX trades/App so as not to pay any more profits. FX is risky they say: big returns mean big risks....sorry we lost your money..sorry... they do this so you do not complain to the authorities. You basically lost on a high return, high risk investment. The majority of people will accept the loss and not pursue legal action.
But you can. You were conned.
Start you clawback proceedings NOW! Gather evidence and names of "promoters". Take screen shots of facebook groups and messages received. You still have a chance to get your money back. Do not leave it too late as Exential clients did!! Take action.
Here is a list of people actively promoting UT and managing positive facebook groups. Take down the names, you will need them to try and clawback your initial investment, they are all promoting and discouraging valid question/concerns. They all post news/updates/communication as if direct from UT management on their sites, despite official sources remaining silent. They want you to stay in the Ponzi, calm you down and get other people to join - shocking but true.
Names to note down and facebook posts that you should copy when you try and clawback you initial investment:
Facebook promoters sites: Owners:
Jonathan Suplito
Zuzana Milerska
Jeremy C Grech
Hedi Ben Romdhane
Benjamyn Giordano
David Smith - Unknown
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Others:
Andrea Ambroggi
Ben Gernale Enerlan
Tatiana Tomasetti
Have any other promoters you have come across? post them here..................................
