Ponzi Scheme TadawulME / Exential Group:

[Marlos.r]

This is it?

Dear Exential Investors,

I had planned to send out an update at the end of October but with the continued social media speculations I thought it’s best that I address a few points to give some insight into the current situation.

Firstly, it is true that we have been through the process of changing law firms and I can now confirm that this process is now complete. The fact that we have not been represented in certain court cases does not mean that we are not aware of them. It is a common practice to inform the courts beforehand if no legal representation will be present and this has been done in all instances. Once the verdict is handed down, Exential is allowed time to lodge an appeal and this is the course of action we deem appropriate at this time. There is a fair amount of social media hype regarding the court cases being won against Exential. Any verdict or judgment is not final until the entire court process is complete and it will only be at that stage where we will be in a position to confirm any settlements as instructed by the courts.

Besides Exential having to defend these cases which amount to a small percentage of total investors, we are making application to re-open our doors as this will enable us to then pay any agreed settlements but more importantly, give us the opportunity to service all our other investors.

The opening of Exential is a WIN-WIN for all parties.

Since the DED closed our doors we had been in discussion with clients to agree settlements to avoid prolonged closure of Exential. As we're all aware we were not able to stop the closure but we continued in good faith with our negotiations with these investors and we are now in the process of agreeing settlements with payments already underway. We initially invited and held settlement discussions with 100 clients, both complainants and non – complainants with most of these cases now in the final stages. The settlement offered was based on the initial investment made and taking into account profits withdrawn over the period of the investment. On acceptance the investors signed an agreement confirming the terms of the settlement of their investment.

We will over the coming months be making contact with investors who wish to close/closed accounts to discuss and agree such settlements once the office re-opens. I am sure you can appreciate the magnitude of this task but it is our intention to do as much as possible to demonstrate our commitment in resolving this situation as amicably as possible. I once again reiterate the point, the opening of Exential is vital for ALL investors and for us to meet our obligations.

I realize that a time frame is something all investors are wanting to know but at this stage all I can confirm is that we are doing our best to resolve this as quick as possible in the best interests of investors and Exential.

As I am not in a position to answer all investor’s questions as there are many, speculation on social media will continue. I will continue as promised to keep investors updated on a regular basis which will hopefully mitigate any negative comments on social media.

You may also contact your respective Relationship managers to clear your doubts if any or alternatively email clientservices@exentialgroup.com to arrange a call back from your Relationship managers.

“ Your patience is our support”

I got the confirmation that there was a change with law firms and as of date they are being represented.

 

[j86616]

I appreciate the light people here are trying to shed on scams that actually take place in forex markets. However specifically pertaining to the Exential Group, I apologize but I would like to differ with you'll guys on this one even though the last communication is ok ok.

I have been a client with Exential for the past two and a half years and watched the company grow ever since then. I have earned consistent returns over the said period and for that matter recovered my capital money.
However there was a slight glitch and delay in January 2014 when it came to the payment of my profits, as they had just shifted over to an alternate broker.

Hence I decided to test them by choosing to terminate a part of my investment, where in, I received all my dues from them within the stipulated period of time. This was done just to verify the authenticity of the institution and having played on the same hunch which turned out to be in correct.

However i did invest after 6 months and am patience as I have seen the ups and downs with this company.

Do you know where they have invested your money? have you seen statements that indicate that your capital has been invested in legit channels? How can you be so certain that your said "RETURNS" was not somebody's else's capital investment that was being rolled to maintain the cash flow? and now that the cash flow has dried out there are no more so called returns? if you have invested in funds before exential you should be aware that you get complete visibility on where your funds lie and what is the source of the returns and trust me my friend it can never be 120% or any other unrealistic value!

 

[Marlos.r]

Do you know where they have invested your money? have you seen statements that indicate that your capital has been invested in legit channels? How can you be so certain that your said "RETURNS" was not somebody's else's capital investment that was being rolled to maintain the cash flow? and now that the cash flow has dried out there are no more so called returns? if you have invested in funds before exential you should be aware that you get complete visibility on where your funds lie and what is the source of the returns and trust me my friend it can never be 120% or any other unrealistic value!

@Smartydel - what j86616 saying holds weight. You should not consider what you have received. You need to see where and how.

 

[Marlos.r]

I got the confirmation that there was a change with law firms and as of date they are being represented.

Yes EG is back fighting and appealing for the cases where the initial verdict is given by the Dubai court.

 

[Smartydel]

Do you know where they have invested your money? have you seen statements that indicate that your capital has been invested in legit channels? How can you be so certain that your said "RETURNS" was not somebody's else's capital investment that was being rolled to maintain the cash flow? and now that the cash flow has dried out there are no more so called returns? if you have invested in funds before exential you should be aware that you get complete visibility on where your funds lie and what is the source of the returns and trust me my friend it can never be 120% or any other unrealistic value!

j86616....i agree to your thoughts

 

[Smartydel]

I am also stuck in this UTMarkets mess so its more fustrating. I made an investment of 50k, after 3 months I decided to withdraw $4500 after I've made some profit and I got a validation emailed to me. But till today that withdrawal request has not been processed. Reaching my account manager has proved unsuccessful as he no longer working with UT. They have spread a mail saying that most of their incomes bounced back pending their talks with their banks to increase their limits.

 

[forexme]

Here we go again... Please tell me any legit forex trading company that gives CONSISTENT and UNUSUALLY HIGH RETURNS (120% per year) that is not a scam.


Here we go again.. I understand that you are happy with the money that you got. but please take a look at the logic (if theres any) on how they earn it. Answer this first. Do you really understand how they do their trading? If not, then its safe to say that you are just blinded by the returns.

Can you find a LEGIT and REGULATED forex trader (or any other stocks/forex trader) which gives CONSISTENT RETURNS of 120% every year? If yes, please tell me where so that I'll close down all my businesses and put all my money in that.

Getting your money returned is not the way to test their authenticity. Rather, Check their audited financial statements, understand how they do their trading, do your own math, buy a common sense from the nearest grocery... that's how you test their authenticity.

Correct Rider has a point. but doesn't give me any comfort knowing my money is still with them. And no one has been able to get the money out till date by fighting against them.
So I think its better to wait and watch.

 

[FxMaster]

I am also stuck in this UTMarkets mess so its more fustrating. I made an investment of 50k, after 3 months I decided to withdraw $4500 after I've made some profit and I got a validation emailed to me. But till today that withdrawal request has not been processed. Reaching my account manager has proved unsuccessful as he no longer working with UT. They have spread a mail saying that most of their incomes bounced back pending their talks with their banks to increase their limits.

It will be good if you can open new thread in scam folder with the full details of your case.

 

[AsstModerator]

I would like explanations from forex.Paulo, forexme, kucka, z,samuel, Marlos.r, Joggers.p, and Smartydel about how these accounts seem to have some items in common.

If I don't get a reasonable explanation within 24 hours, I reserve the right to ban either or both sets involved.

 

[bardez.monkey]

I would like explanations from forex.Paulo, forexme, kucka, z,samuel, Marlos.r, Joggers.p, and Smartydel about how these accounts seem to have some items in common.

If I don't get a reasonable explanation within 24 hours, I reserve the right to ban either or both sets involved.

Coz few of these id's has been created to safeguard EG and beg investors not to file case. In short these are id's created by EG RM's and CS team to promote "wait & watch" game of EG. Must be an idea of pseudo princess as usual