Ponzi Scheme TadawulME / Exential Group:

[VoiceOfLogic]

Did anyone find some money in his account with FCI , cuz must of the people saying that no $ .

That will be the case for most people as this is the reason why the ponzi collapsed. There was no more money to pay anyone fake returns.

Some, like one of the contributors above, will be luckier and recover a small part. Think he got about 10% of his investments back.

 

[Pharaoh]

File a claim and keep fighting. If you've got money in the broker, use the method above to get that part back, but there's no reason not to try to pursue the full amount of your investment. The percent you get back depends on how many people are fighting for theirs and how much money is left.

 

[Tanjara]

I was told by someone that if the court proved the scam they might call back all who got back their initial investmant (who got more than 11 payments) and ask for the access money. As it would mean it was illegitimate profit! and they will use it to re-pay those who have actually lost their money!
Do you guys think that's possible?

 

[riderX]

I was told by someone that if the court proved the scam they might call back all who got back their initial investmant (who got more than 11 payments) and ask for the access money. As it would mean it was illegitimate profit! and they will use it to re-pay those who have actually lost their money!
Do you guys think that's possible?

yes. its possible. its called "clawback procedure".

what usually happens is (at least in the US) the authority will appoint a trustee to collect whatever proceeds it can get and distribute it to the victims who can prove that they have lost their money. this includes anything that can be obtained from the assets of the scammers, plus those who received excess profits. of course, this is only possible if the court can get the company records, etc, which is probably why DED ordered the closure of the office so that they can preserve the records in that office.

in Dubai, where failure to pay is considered a crime, i think it is highly possible.

 

[Goan Gold Fish]

I wish that's possible so People like us would get some of our money back but as per lawyers, there is no clawback rule here in Dubai. Moreover, even if the court give the verdict for clawback, Do you really think people will have such kind of in hand cash to return the funds? Nobody will agree for the same . It's just my Opinion.

 

[riderX]

I wish that's possible so People like us would get some of our money back but as per lawyers, there is no clawback rule here in Dubai. Moreover, even if the court give the verdict for clawback, Do you really think people will have such kind of in hand cash to return the funds? Nobody will agree for the same . It's just my Opinion.

if thats what the lawyer says, then its unfortunate. however, if the court will order this, those who got excess really have no choice but to give it back. like i said, this is dubai. its a crime not to pay what you owe to others, specially if this is ordered by the court. hope for the best.

 

[toni semaan]

Guys, any news from Exential ? or DED ?

 

[j86616]

Hello Everyone, I have my family and friends who have invested with EG and have more than 2 to 3 accounts, all investments were made via personal loans. I really hope that they can at least get back their invested capital...this is really unfortunate.. but truth be told they were lured into these investments after being exposed to the lavish lifestyle that the EG group were flaunting all over social media and they now realize their foolishness and greed. I myself was contacted by the RM's on 2 occasions to open accounts but when i asked them a few sensible questions, they never did revert or follow up.
Lets just hope everyone does come out of this as soon as possible!

 

[bardez.monkey]

Guys, any news from Exential ? or DED ?

DED have forwarded all cases to Court ....

 

[Dedicated]

Please share the case number if anybody know. Many thanks