Ponzi Scheme TadawulME / Exential Group:

[chris146]

Not sure who the bad guys are - it would seem people driving the clients to lawyers; like the newspapers ? This case has become a source of earning for a lot of people. If the cases go on, the lawyers are the winners and if Sydney is deported, the lawyers are still the winners. It is the clients who loose - they don’t get anything.

I say this because, I took a short trip to Goa during this EID weekend and came back with a different perspective. Spoke to a few locals (I remember the names Pedro and Salu), who think the guy is being framed esp when they read about 007 in the National. They say lots of loop holes in the article. In their opinion, if the newspapers had not instigated clients, they would have got their money by now. It so happened that Pedro has a son in Dubai and among the first 25 clients (just my luck!). Even when the business was very small, he got his interest on time…. It was just during Nov of 2015 that trouble started. He says if it was a ponzi scheme, money would have been slow in coming especially during the first few years. The business ran into some rough times (like every business) and the clients should have been patient. Perhaps he is right. He also mentioned while there are a few impatient clients, he knows a few old clients, who are willing to reinvest, once the company affairs get back to normal. He doesn’t think there is anything wrong with the business.

This makes a lot of sense, coming from a local and someone who sees the story in a different light.

Hello MiaJen,
To answer your question
The bad guys are the people that played any part in running the Ponzi and stealing your money.
Then there are the wolves. Those are the people who come out afterwards to feed on the carcass of the victims - usually they are the lawyers and receivers

I can't comment on the trip you took or who you talked to.
The truth is usually the first casualty of war.
I imagine that Pedro and Salu were both very devoted investors who get their information from somewhere and I am guessing the info they got was probably from an employee at Exential who they trusted.
I really can't comment any further as to how realistic those comments were, but if that was the case then Sydney Lemos would not likely be in jail right now.
It is very common for victims to be misled. It happens this way most times. The bad guys convince the victims that the only reason the business got shut down was because the government came in and interfered and froze the bank accounts - or there would never have been a problem.

 

[chris146]

fraudalerts.nu/exential-group-forex-fraud-recoveryeffort/
I was checking this link. This is not a US company. .nu domain belongs to some island country called Niue in the Pacific Ocean - never heard of this country before. I was checking Wikipedia, the country has a population of 1612 as of 2016. Checked the 'contact us' page, no address or number, only a form. Could be a partner company of Carlton who can endorse their claim of recovered money ? - I don't know. Why would a company on Niue Island think their people have invested in a company based in Dubai ?

Hello MiaJen,
Correct, the link fraudalerts.nu/exential-group-forex-fraud-recoveryeffort/ is not a company (It's just a website, that allows vetted posts to be made)
Please understand in many cases bad guys who steal $millions of $dollars don't mind killing anyone who is coming after them, so these offshore private investigator firms have to be careful about giving away too much personal or contact information.
Fraudalerts.nu is a website located in Niue, which makes it just that much more difficult for the bad guys to figure out who is behind the website.
When a true victim makes contact, that's when they get more of a formal introduction.
I hope that answers your questions?

 

[chris146]

Hey Chris,

This is an excerpt from the National :
“….. and significant money has been located in bank accounts. Other property in Dubai includes Maserati and BMW cars, while cash held by Exential has been traced to accounts in Australia and Abu Dhabi.”

A reference is made to money located in bank accounts. I understand banks would need court orders to disclose this information. The 61 clients of Carlton should insist on making sure they see a copy of that permission to safe guard their interest, else they could get into trouble. See what I found on the link below :

https://flatironspi.com/can-private-investigator-get-bank-records-account-information/

The article is by Flatirons Private Investigations dated 7th May 2017

If Carlton could not get the 007 car thing right (which is public information), what guarantee we have that the rest of the information is true. I am very sure they have their version of evidence for the ownership of 007 car, which unfortunately does not tally with government records.

So now we are at $15m minus the 007 BMW (confirmed). We also do not know if the money in bank accounts is verified or just a guess.. that might bring down the $15m further.

Hello MiaJen,
I have read these comments and questions and I'm not sure I can provide you any answers in a meaningful way.
YES, banks usually do provide information if they receive a court order, but sometimes you don't want a court order unless you can get it ex parte, otherwise you just let the bad guys know where you think they have money. Following the flow of funds in $USD can also be done by investigators who have an understanding of how the US banking system works and how the flow and movement of $USD is controlled. - In which case a C1782 order (I think that is what it is called) may provide the necessary info without tipping off the bad guys.
And then that's when you may be able to apply for a Mareva injunction so long as you have the necessary background paperwork to support your application
The article posted by Flatirons is a US private investigation firm - Please understand that when you leave the US privacy is not always treated the same way the world over in different countries, and information can be easily acquired

I really can't comment at all about Carlton (I have never met him), and I have no knowledge of a 007 car or how it got to be accurately or inaccurately reported.
Frankly, I don't know a whole lot about the inner workings of this scam, and exactly who has found what or where - I just know that some people have managed to find some of the assets that were stolen and that a worldwide effort is now going on by people who specialize in these cross border fraud and asset recovery cases, and many of them are quite successful.

 

[riderx2]

MiaJen, a word of caution.
I hope you are doing this "investigation" to help others, not to recover your capital (or even dissuade others from pursuing with legit investigators).

You are part of the "Grateful ones" right? You joined in 2012 and have probably made at least 300% of your money before EG was closed. Your exotic wedding (i mean wedding in exotic locations) must have been amazing! .

I considered this company a blessing from God. I had one account from 2012. I earned much more profit than what I invested ($20K). I represent my grateful friends who feel the same. With the extra money, we were able to build houses back home, afford weddings in exotic destinations, travel on international holidays, stay in decent accommodation instead of sharing accommodation, afford to bring our families to Dubai… the list is endless. This spend I am sure has contributed to boosting the liquidity in Dubai as well.
We do hope this little glitch in this business is sorted out quickly and that this business is successful again, because in their success lies our prosperity.
I see negative things in the papers and think; papers love gossip and bad news and create more harm than provide solutions. Nobody sees the good that happened when the company and all of us were doing well.

Join the grateful ones... lets create positive energy.

All the best !
The grateful ones.

 

[Pharaoh]

He says if it was a ponzi scheme, money would have been slow in coming especially during the first few years.

Incorrect. If someone starts a Ponzi which pays 10% per month (using 10% as an example to simplify the math), they can pay investor #1 for 10 months like clockwork. Anyone getting 10% per month who believes whatever lies back up this unsustainable level of return is likely to tell friends and relatives and also to invest more.

The whole key to getting a Ponzi up and running and getting a bunch of people to invest is to pay on time, every time, especially during the first few years. Then people too busy praising the scam and bragging about their profits (as you have done) to investigate. Instead, the money will come pouring in. Eventually, some will raise questions, the flow of new money will slow, and the scammers who didn't carefully plan their exits will end up getting caught.


And, for anyone who somehow thinks (or perhaps is encouraged to claim) Sydney is just an innocent front man who should be released, remember all the statements he and his wife made. Remember how he's supposed to be the magic trader who can make all the money back if released. Either he's the one behind it or he's covering for those behind it. Either way, he need to rot in prison. If there are others above him in the organization, maybe he can trade testimony against those people in exchange for a slight reduction of his sentence.

 

[MiaJen]

Hello MiaJen,
To answer your question
The bad guys are the people that played any part in running the Ponzi and stealing your money.
Then there are the wolves. Those are the people who come out afterwards to feed on the carcass of the victims - usually they are the lawyers and receivers

I can't comment on the trip you took or who you talked to.
The truth is usually the first casualty of war.
I imagine that Pedro and Salu were both very devoted investors who get their information from somewhere and I am guessing the info they got was probably from an employee at Exential who they trusted.
I really can't comment any further as to how realistic those comments were, but if that was the case then Sydney Lemos would not likely be in jail right now.
It is very common for victims to be misled. It happens this way most times. The bad guys convince the victims that the only reason the business got shut down was because the government came in and interfered and froze the bank accounts - or there would never have been a problem.

Chris, I would have believed that until I read the recent article on National. I was a silent observer - thanks to the proof on the public website regarding the car; it opened my eyes. I found it weird that you were talking about bad guys when I merely pointed out that the information was a lie. A whole article on National about assets found and you tell me to shhh because the bad guys are reading this forum. I am a victim because when a friend referred me to invest because she has made money, I could have said "wait a minute, it is not possible to get a 100% + return. I am happy with my monthly salary, I do not want to take a risk". Regarding my investment, I made much more than I invested, I am just greedy for the principal.

 

[MiaJen]

MiaJen, a word of caution.
I hope you are doing this "investigation" to help others, not to recover your capital (or even dissuade others from pursuing with legit investigators).

You are part of the "Grateful ones" right? You joined in 2012 and have probably made at least 300% of your money before EG was closed. Your exotic wedding (i mean wedding in exotic locations) must have been amazing! .

?? I am still single... I don't think I have mentioned in any of my posts that I am married ?? I just mentioned above I want my principal, but with the way things are going, looks like I won't get it. I don't think it was 300%.

 

[MiaJen]

Hello MiaJen,
Correct, the link fraudalerts.nu/exential-group-forex-fraud-recoveryeffort/ is not a company (It's just a website, that allows vetted posts to be made)
Please understand in many cases bad guys who steal $millions of $dollars don't mind killing anyone who is coming after them, so these offshore private investigator firms have to be careful about giving away too much personal or contact information.
Fraudalerts.nu is a website located in Niue, which makes it just that much more difficult for the bad guys to figure out who is behind the website.
When a true victim makes contact, that's when they get more of a formal introduction.
I hope that answers your questions?

Nope, doesn't make sense. Thanks for trying tho. I would need to do due diligence on a company, before I engage with them - I am sure most people feel the same. Even if I shop online, I first go to the contact us page. If I contact a company through a form, in any case they would not know if I am good or bad. I could be the bad one, pretending to be good. I am guessing you contacted them since you know they charge a %age of the recovered amount and you know much about them.

 

[chris146]

MiaJen, a word of caution.
I hope you are doing this "investigation" to help others, not to recover your capital (or even dissuade others from pursuing with legit investigators).

You are part of the "Grateful ones" right? You joined in 2012 and have probably made at least 300% of your money before EG was closed. Your exotic wedding (i mean wedding in exotic locations) must have been amazing! .

Riderx2 you have made a good point. I did not realize that MiaJen may have received back far more than what was invested.
There will probably come a time when either Exential (EG) will file for bankruptcy or the courts will appoint a receiver?
Possibly this has already happened, and if SL is in jail I imagine it is more likely that the courts will have appointed a receiver.
OK, so if that is the case then it is the court appointed receiver who now has the legal authority to go after and recover any assets that EG may have or own.
Obviously things get a little complicated on the international stage when a court in Dubaii appoints a receiver, and assets are found in other countries.
The court appointed receiver from Dubaii needs to have the knowledge and experience to know how to go about securing those assets, and do so in a manner that conforms to all laws.
The court appointed receiver will want to get all the accounting records of EG and determine who all the creditors may be. Obviously this will involve getting a list of all the investment transactions and who made them, and a record of any withdrawals.
The idea is to find out how much people lost, and they only calculate the principal of what was invested.
When they do this they are able to determine if any investors actually made money, and believe it or not those investors that actually made a profit are then asked to return that money.
This is because those profits were not real profits and therefore people should not benefit from a crime when others lose money.

Things get very complicated when assets are found in other countries by third parties who are acting for individual investor/victims as the receiver will probably want to claim all assets wherever they are found. The problem is that the receiver does not necessarily know where all these assets are, and quite often the receiver does not know how to find them, so a number of possible scenarios occur.
1) The receiver cuts a deal with the third parties and agrees to share some of the assets in exchange for the information on where they are located
2) The third parties who find the assets cut a deal directly with EG, and agree to allow EG to keep some in exchange for making their clients whole

Neither of these scenarios are simple.
If the receiver cuts a deal then those assets are still tied up for years while the receiver exhausts all other avenues to locate other funds. At the end the receiver needs to be paid for their services so quite often any monies that actually are recovered end up going to the receiver anyway as payment for their services. Any money that is left over then gets divided up amongst the creditors/victims and usually only amounts to about 5 cents on the $

Now if it turns out that the third parties cut a deal directly with EG, then just those clients who hired the third parties get paid. (and they probably keep quiet about getting paid because they probably don't want the receiver to find out)

That seems to be how things go in these matters.

Just a quick question to all the folks out there - are any of you aware of the publication OffshoreAlert.com?
I have found this publication to be very credible and they widely considered to be the unofficial financial regulator
Here is some info about them. offshorealert.com/about.aspx
I hope this helps

 

[riderx2]

?? I am still single... I don't think I have mentioned in any of my posts that I am married ?? I just mentioned above I want my principal, but with the way things are going, looks like I won't get it. I don't think it was 300%.

well well. at least you are honest that you are greedy. theres nothing else we can do about it. but wait, didnt u mentioned in your first post that "EG was a blessing from God"? which God do u refer to? because the God that i know dislikes greed. hope karma will hit you big time. enjoy