Ponzi Scheme TadawulME / Exential Group:

[R1991]

Hello All,

I got a call from the barsha police station 4 weeks after i opened my case with Public Prosecution.

I went today and they opened my case and collected all the documents i had (Contract, Statement of account from eventual, and the 9 months letter which they wanted us to sign).

The officer in charge had around 160 files filed by clients and counting.

The Officer told me that they are holding SL and negotiating with him however he is being resistant and saying he has to get out to "Make" the money in order to pay us back. Some shi@ about his strategies are all in his head...hahaha

Just wanted to update you guys on whats happening.

If you have any useful information, kindly share.

 

[KTFXSMITH]

So sad for everyone involved but what a wild story this has been. I have been following this closely. I hope many can learn from this etc.

 

[Pharaoh]

I know that if he is sentenced to prison then once released he has no obligation to return money.

I'm using a demo account with high leverage option.

So you made $525 overleveraging an unspecified amount of demo money.

And I take it that you believe a judge in Dubai can't sentence someone to prison AND file attachments against stolen money which caused the sentence. I haven't studied Dubai law, but I find this interpretation highly questionable.

Also, even if it was true (which I doubt), the wheels of justice have already begin turning on Sydney. Do you really believe everyone would be stupid enough to drop all the charges they've filed in the hope that he would somehow pay everyone off? If all the charges were dropped, he could just head off to a no-extradition country and keep all the money.

The Officer told me that they are holding SL and negotiating with him however he is being resistant and saying he has to get out to "Make" the money in order to pay us back. Some shi@ about his strategies are all in his head...hahaha

Funny how many lame reasons there are to let him out.

If he was producing the funds using his magic formula, then he already made all the money needed to pay everyone up until the moment his office was locked down. Up until then, the delays were supposed to be due to money transfer issues, not lack of money and need to trade more issues.

Combine this with his wife breaking intro the office and I hope the pair of them get to spend 30+ years rotting in prison.

 

[nikel7]

Dear All, this is to let you know that my lawyers have the writ of execution from the court judgement and an execution file will opened accordingly. Apparently, a good news.

 

[Rejay2714]

Dear All, this is to let you know that my lawyers have the writ of execution from the court judgement and an execution file will opened accordingly. Apparently, a good news.

Hi nike17,

Have you open the execution file ??
What do you mean by writ of execution???
I have filed for an execution 15 days back but haven't heard anything from the court yet...

 

[totalpips]

So you made $525 overleveraging an unspecified amount of demo money.

And I take it that you believe a judge in Dubai can't sentence someone to prison AND file attachments against stolen money which caused the sentence. I haven't studied Dubai law, but I find this interpretation highly questionable.

Also, even if it was true (which I doubt), the wheels of justice have already begin turning on Sydney. Do you really believe everyone would be stupid enough to drop all the charges they've filed in the hope that he would somehow pay everyone off? If all the charges were dropped, he could just head off to a no-extradition country and keep all the money.



Funny how many lame reasons there are to let him out.

If he was producing the funds using his magic formula, then he already made all the money needed to pay everyone up until the moment his office was locked down. Up until then, the delays were supposed to be due to money transfer issues, not lack of money and need to trade more issues.

Combine this with his wife breaking intro the office and I hope the pair of them get to spend 30+ years rotting in prison.

Pharaoh, mate some people cant be helped.

I lmfao when he mentioned it was a demo... Spouting off about demo money - come on. I did want to have a snipe then, but I think all of us can tell hes not that clued up on Forex as a whole.

I've made millions in demo accounts, only to promptly lose my capital within days using the same strategy when live....

 

[nikel7]

Hi nike17,

Have you open the execution file ??
What do you mean by writ of execution???
I have filed for an execution 15 days back but haven't heard anything from the court yet...

I am not sure what you mean. I have only received this communication from my lawyers. I think that this means that the court has decided to provide final judgement by accusing EG to provide a settlement within 14 days.

 

[fullfol]

Join us with this petition https://docs.google.com/forms/d/e/1...0X0tEnLDd-Yg803vGRfWZiZN0oxg/viewform?c=0&w=1

It's seems the best shot to save our money

 

[riderX]

Join us with this petition https://docs.google.com/forms/d/e/1...0X0tEnLDd-Yg803vGRfWZiZN0oxg/viewform?c=0&w=1

It's seems the best shot to save our money

i agree that this is indeed a good move. however, i wouldnt suggest giving out such information just like that. maybe its better to just agree to meet in person and maybe hire a reasonable lawyer to facilitate this kind of petition. and get a local who has the right wasta.

 

[totalpips]

Join us with this petition https://docs.google.com/forms/d/e/1...0X0tEnLDd-Yg803vGRfWZiZN0oxg/viewform?c=0&w=1

It's seems the best shot to save our money

I hate being a debbie-downer, but given what SL has stated to the police (refer to R1991 post on this page above), I think we can safely say the money is gone.

Also I'm not entirely sure that petitions are legal in the UAE. I firmly believe you want a little payback - not in the form of money, as I'm certain its gone now, then keep filing cases using the tips above, some of the means aren't overly expensive and keep SL locked up.