Ponzi Scheme TadawulME / Exential Group:

[chicken.or.beef]

the thread was very informative. average IQ ( as they always say) will understand what the writer wants to convey..no matter how we contradicts each other statement we would not know until all information/accusation about exential are proven. too bad burden of proof is with us who speculate unless exential collapse.

as i post above...i expect the worst. facts are very evident. i do not know why i still waste my time reading and writing my comments here, probably my subconscious mind is telling me otherwise. dilemma!

Your dilemma and gut feeling means get out! There still might be time.

Denial and burying our heads in the sand is natural response - hoping the crisis will pass. The administrators of exential are using the same strategy. Denial. They still believe that they can keep this scam alive. Lies about delays, threatening clients that accounts will be closed if they mention any apprehensions/concerns online. It has become a circus. Most intelligent investors are desperately trying to get their capital out. Pilots are all threatening to go to the authorities and some have been successful in getting their money returned..many still waiting. Typical of Dubai it all depends on your nationality

No one likes to admit they have been scammed and lost. Shame hurts. But a small hurt now is better than a larger hurt later - and beats being stuck paying off loans.

Follow your gut. And reduce your losses. Good luck...getting out..the fact you are reading this means sediment has changed and it is all over......

To all the would be investors. The ROSTER HAS ALREADY FLOWN THE COUP....you must be out of your minds to give $20000 to anyone! Would you do it at home? Then why are you even considering it in Dubai........where there is no protection, morals or rule of law.....

 

[totalpips]

The delay has been explained thus far by the banking move to Australia during month of October. I was told those still waiting for September profit payout and who submitted withdrawal on 1st October will receive in the next two days. The requests got processed on the portal around 25th October. If there is any further delay beyond the middle of this week I would be concerned. I applied for my October profit payout today, being 1st November.

Re: silence from staff. Any questions or concerned I've raised have been responded to within the hour by my RM. I applied to close one of my accounts last week as I need the capital and the request was acknowledged the same day with a schedule for release of funds. So I will report back here when I receive the funds and how I found the process. If it was all over as suggested above I doubt all their staff etc. would still be in the UAE in the offices as they are like any other day.

Jetset3000,

Its good to get a balanced view of relationships with Exential... I was merely stating in my previous posts my experience with them (and my colleagues ongoing experiences with them). I had to threaten to go to the local authorities when my capital withdrawal was delayed by significant amount of days, which saw an instant response and return. My concern has always been the vague excuses (Yes I know you are saying that its due to taking the money offshore), but I can shift significant amounts of money between my local and international accounts within a day or so... And I'm certain that having an 'institutional' amount of cash to be transferred would see a bank bending over backwards to complete this asap.

What I am getting at is, it seems fishy, yet to be proven, but look at the market that Forex is. It takes milliseconds for a multimillion dollar buy order to be filled on the sell side, but Exential has taken 15 days over their 'contractually obligated' times to pay out the profits??

I'm not having a dig at you Jetset, just saying that is one of the things that always irked me with Exential... Days and days (and sometimes weeks) to fulfill their part of the deal.. And clients with no actual control over anything...

 

[Pharaoh]

the thread was very informative. average IQ ( as they always say) will understand what the writer wants to convey..no matter how we contradicts each other statement we would not know until all information/accusation about exential are proven. too bad burden of proof is with us who speculate unless exential collapse.

as i post above...i expect the worst. facts are very evident. i do not know why i still waste my time reading and writing my comments here, probably my subconscious mind is telling me otherwise. dilemma!

Keep sharing. Maybe enough information about what's happening now will be enough to convince at least a few people to not invest in the next "too good to be true" investment that pops up.

 

[Jetset3000]

So did everyone expecting their September profit on 5th November receive their funds?

 

[Superhuman82]

Yes, 5589AED to be exact!!!

 

[SilentSpectator]

Yes, 5589AED to be exact!!!

One of my friends confirmed he received September profits last week, around 6500AED. I thought these were mirrored trades?

 

[Superhuman82]

Well, I can't speak for your friend however the profit for September was exactly $1824.
As far as I know the accounts are mirrored but the fees and deductions are not. I, for instance opened my account a couple of days into the month so therefore it was slightly less than than the full profit for September.

 

[SilentSpectator]

Well, I can't speak for your friend however the profit for September was exactly $1824.
As far as I know the accounts are mirrored but the fees and deductions are not. I, for instance opened my account a couple of days into the month so therefore it was slightly less than than the full profit for September.

Ahhh, i thought you were invested since March?

 

[Superhuman82]

No, unfortunately not.

 

[SilentSpectator]

Hi Rob,

As another investor with Exential since March 2015, I can tell you that you so far I am very am a very happy customer and you dont need to worry about those "I told you so" comments.

I have been been paid all my amounts since I joined, including September. However, I called relationship manager and he let me know that my September Payment was paid late due to the fact that they were closed 23-26 due to Eid Holidays. I was payed on the 30th SEPT.

I sure if you contact you relationship manger they will be able to answer you queries but I'm sure it will be paid to your account either today or tomorrow.

If you have any questions please feel free to inbox me.

So I guess the previous post dated October 4th addressed to Rob was just a typo? It also says there that you were paid all arrears including September. How can you have arrears till September when you started joining a couple of days into the month of September? Not being nit-picky, but I just want to identify reliable sources in this thread.