Ponzi Scheme TadawulME / Exential Group:

[Expat]

A colegue still invested with EG just forwarded me this email sent to their clients.

Dear Valued Client’s,

Greetings from Exential Group!

As you are aware, in the past few months, we at Exential Group have been facing banking issues due to which the processing of withdrawals that were earlier initiated was taking a much longer time than expected.

You as our valuable client(s), unfortunately, had to bear with us while we were trying to resolve this issue. We completely understand that you had liabilities and obligations that had to be taken care of.

We at Exential Group do not chose to intentionally delay the processing of withdrawal requests initiated by our clients. If you have noticed, with your experience with us in the past, we have delivered as per the timeframe stipulated in the contract. Yes, on few occasions there may have been a slight delay, but again, none of it was intentional.

It is to our great relief that the situation is now under control and the banking issues are now easing out and will fade eventually. At Exential we strive to provide our clients with the best service and in a timely manner.

We thank you for your continuous support and trust you would continue to be a valued client with us.


Client Services

Exential Group

Contact Number: +971 4 276 6055
Email: clientservices@exentialgroup.com
P.O.Box 124538,
Dubai Media City,
Arenco Tower, Office 003 & 707
Dubai, UAE.

 

[Pharaoh]

Banking issues. . . . Isn't that the same excuse the trotted out a few months ago when they couldn't process payments?

 

[SilentSpectator]

Banking issues. . . . Isn't that the same excuse the trotted out a few months ago when they couldn't process payments?

Well if the amount of outward transfers start to exceed the inflow, there would certainly be a banking problem called "insufficient funding".

 

[manpo]

If you really care about your friends on Emirates Airlines you may go directly to any Police Station in Dubai and file a complaint. Tell them that this Company is scamming people including your friends. Bring your passport with you.

I'm unsure if that is the proper way. I don't think the police gets involved in financial matters. Maybe the financial authorities ?

 

[Jetset3000]

I heard there is a new withdrawal restriction. Going forward each month only the first 25% of clients applying to withdraw profit will get their funds on time, next 25% one day late, and so on. Seems strange. They have 20 days each month to process the payments on time and you would imagine its automated. What exactly is this banking restriction, apart from the fact you need money in the account to be able to pay.

Still waiting for November profit pay and capital refund both well overdue. Explanation is "funds will be in your account shortly"...

 

[lilliput]

Geez...Before we invested in ExentiaI we were properly explained of the risks. The secret is not investing your entire wealth and not totally relying in any investment company. If you're not confident in Exential then pull your accounts. That's it.

 

[totalpips]

I heard there is a new withdrawal restriction. Going forward each month only the first 25% of clients applying to withdraw profit will get their funds on time, next 25% one day late, and so on. Seems strange. They have 20 days each month to process the payments on time and you would imagine its automated. What exactly is this banking restriction, apart from the fact you need money in the account to be able to pay.

Still waiting for November profit pay and capital refund both well overdue. Explanation is "funds will be in your account shortly"...

Yikes. That is very worrying for yourself and any one else in the scam erm I mean scheme

 

[sweater]

Geez...Before we invested in ExentiaI we were properly explained of the risks. The secret is not investing your entire wealth and not totally relying in any investment company. If you're not confident in Exential then pull your accounts. That's it.

That is exactly I pulled out my investment...Most of the investors of Exential are watching this thread..Any additional inputs are shaking them...Sad but true..Reality bites...

 

[investorone]

I'm unsure if that is the proper way. I don't think the police gets involved in financial matters. Maybe the financial authorities ?

@manpo,, I’m just being sarcastic here. Don’t go to police station or financial authorities and start accusing the Company without solid evidence as it will fire back at you. If you live in Dubai you know what I’m talking about. It’s okay to blatantly accused the Company here on FPA thread as being a Ponzi scheme without proof as we are all troll accounts here without real identity and it will be difficult to track and prove who we are.

 

[Pharaoh]

Happily, in the USA, pointing out that a company shows string signs of being a Ponzi scheme (when the company does show those signs) is perfectly legal.

For those in the UAE, don't accuse them of being a Ponzi. Ask the police and regulators why this "legitimate" company shows so many Ponzi symptoms. If you are owed money, a simple non-payment complaint would also seem justified.

Geez...Before we invested in ExentiaI we were properly explained of the risks. The secret is not investing your entire wealth and not totally relying in any investment company. If you're not confident in Exential then pull your accounts. That's it.

Although not risking too much and being ready to pull out at the first sign of trouble is good advice (which I've given many times in other threads), I'd say researching a company to make sure the investment is legitimate BEFORE placing any money with them is an important step that got skipped.