Ponzi Scheme TadawulME / Exential Group:

[Shu-op01]

How does it work?" Good question. I assume you are an investor and I hope you did your research before putting your money with them. Can you answer that for us please. And the following also

-Do you really understand how they get consistent profit while the rest of the legitimate traders dont?
-Do you understand why they dont advertise extensively to get more customers?
-Do you know who are the management team of EG and why they dont publish this on their website (other legit companies do)?
-Did you even ask why a forex trading company is registered in a media city freezone?

Or you just dont care as long as you are earning? As the saying goes, money exposes the heart. If greed has taken you over, I'm afraid there is no other way for you to see the red flags of EG until EG finally collapses.

Hey! I'm not actually an investor but I have a lot of friends who are involve with EG.
1. I don't think that my friends are getting consistent profit. There are months that are very low and sometimes high.
2. That's one thing I"m not sure.
3. Just go to their office in Arenco Tower and ask who are the management guys. I know, Sydney as one of the Managing Partner.
4. That also I don't know.

Imagine you put up your company and then some issues like this arises, do you know what impact does it cause the company?

For those who have filed cases: let me know if you get anything out of it or you just spend more in paying the lawyers.

 

[SilentSpectator]

Hey! I'm not actually an investor but I have a lot of friends who are involve with EG.
1. I don't think that my friends are getting consistent profit. There are months that are very low and sometimes high.

My friends also don't get consistent profits, both in terms of amount - compared with fund performance in myfxbook, and recently, profit payout frequency. What riderX meant to say was that in Exential's/Tadawul's existence, they only consistently declared monthly profits and never any losses. If you compare their declared profits with their "claimed" mirrored-funds performance in myfxbook, you will have to wonder how they keep paying amounts consistently above the gains made in the dummy account.

3. Just go to their office in Arenco Tower and ask who are the management guys. I know, Sydney as one of the Managing Partner.

It is quite obvious that you are not an investor. Try dealing with the Exential people, particularly the RMs and you will know just how much reliable information they will give you. riderX's question was about why they're not brandishing the names of their board of directors in the website. A successful company that has consistently grown its investors' money (never had a losing month) during the past 5 years of its existence? I'm quite surprised that even the office cleaner is not screaming his affiliation with Exential to the world.

 

[riderX]

To add, you will not see any forex trader from EG in linkedin. Mostly just RMs.
If I'm the trader of EG, I will flaunt EG's performance in my profile. Financial Companies will move heaven and earth just to hire me.

 

[Shu-op01]

My friends also don't get consistent profits, both in terms of amount - compared with fund performance in myfxbook, and recently, profit payout frequency. What riderX meant to say was that in Exential's/Tadawul's existence, they only consistently declared monthly profits and never any losses. If you compare their declared profits with their "claimed" mirrored-funds performance in myfxbook, you will have to wonder how they keep paying amounts consistently above the gains made in the dummy account.



It is quite obvious that you are not an investor. Try dealing with the Exential people, particularly the RMs and you will know just how much reliable information they will give you. riderX's question was about why they're not brandishing the names of their board of directors in the website. A successful company that has consistently grown its investors' money (never had a losing month) during the past 5 years of its existence? I'm quite surprised that even the office cleaner is not screaming his affiliation with Exential to the world.

Assuming that you and riderX's comment are true, what to do? Hire a lawyer and file a case, then what? Spend more money and time instead of waiting patiently. Every business has a downfall situation and currently EG is facing it. I really hope EG will get back on track.

 

[rls888]

Hi Iman, please send me also the steps in filing the case, mkiocho@yahoo.com
Thanks.

I'd like to file a case agains EG too, can anyone help please?
I'm working full time so will need a lawyer to represent me.
Thank you

 

[riderX]

Assuming that you and riderX's comment are true, what to do? Hire a lawyer and file a case, then what? Spend more money and time instead of waiting patiently. Every business has a downfall situation and currently EG is facing it. I really hope EG will get back on track.

Assuming we are correct, then EG is a scam... there is nothing to "patiently wait" for. spending for lawyers and trying to recover what is due to you is more logical than waiting for nothing.

I think the question is more on whether you believe that EG is a scam or not. Some may argue that it cannot be answered now. But just google proven forex scams and see the trend. And add a little common sense.

And by the way..you wrote this right?
"Saw also that if the people are still receiving profit, it is from the new investors... HELLO!! They are not allowing people to open any account so, how does it work?"

Read R1991's post. He or she invested in Feb 2016 and was able to get monthly profits. HELLO! They DO allow people to open accounts. And how in the world did they give R1991 profits during feb, march and maybe april 2016? I thought a lot of people are complaining that there were no payouts since December 2015.

 

[rls888]

Ignore superhuman he must works for EG .

Next hearing is next week. Me and many others from collective group and individual cases.

Hi Flyingstar, I would like to file a case against EG too, can you please help? Thank you

 

[Shu-op01]

Assuming we are correct, then EG is a scam... there is nothing to "patiently wait" for. spending for lawyers and trying to recover what is due to you is more logical than waiting for nothing.

I think the question is more on whether you believe that EG is a scam or not. Some may argue that it cannot be answered now. But just google proven forex scams and see the trend. And add a little common sense.

And by the way..you wrote this right?
"Saw also that if the people are still receiving profit, it is from the new investors... HELLO!! They are not allowing people to open any account so, how does it work?"

Read R1991's post. He or she invested in Feb 2016 and was able to get monthly profits. HELLO! They DO allow people to open accounts. And how in the world did they give R1991 profits during feb, march and maybe april 2016? I thought a lot of people are complaining that there were no payouts since December 2015.

Google proven forex scams?? Do you seriously think that I will believe everything that is written by who knows in the trend? Without any valid proof ?? C'mon! Common sense to you! Will see if anyone comes back here saying "I got my money back because I filed a case or maybe, I spent more money to my lawyer and nothing happens because EG started paying off again. What do you think?

 

[riderX]

Google proven forex scams?? Do you seriously think that I will believe everything that is written by who knows in the trend? Without any valid proof ?? C'mon! Common sense to you! Will see if anyone comes back here saying "I got my money back because I filed a case or maybe, I spent more money to my lawyer and nothing happens because EG started paying off again. What do you think?

i will not give foreign examples because you are just too lazy to google it. lets go local. mma forex. its a proven scam in uae.read the link from gulfnews.

http://m.gulfnews.com/investors-in-limbo-after-firm-in-dubai-stops-profit-payouts-1.1223520

trends:
-is it registered in difc - no
-monthly profit - 7-11%
-management - only one person is known (malik awan - ceo). the rest are unknown.
-do they have traders? - they said yes but if you go to their office, you will only see RMs.
-the reason they used when they delayed on their payment? - vague banking issues. they promised investors that they are sorting out a deal with a large german bank to solve the issue.
- mma started in 2006 and started having problems in 2012.
-ceo is flaunting his ferrari (check lemos fb page)
-ceo sponsored pakistan cricket team (EG has fc goa)
-they changed the withdrawal requirement (forms,etc) the moment they started delaying the payout. they made it more difficult for investors to withdraw.

sad to say, people did not recover their investments (or at least for majority). some people are still pursuing a case and asking liquidators for the clawback procedure. i was one of the victims of mma. was it futile to file a case against them? maybe yes. but at least they were exposed soon and it ended the agony of waiting. and thats my only stake here. the sooner that EG is proven as a scam, the lesser the victims. on the other hand, the sooner that EG is proven as legit, the sooner i can dump all my money to them, resign, and spend the rest of my life going around the world

how about you? whats your stake here? you seem to believe so much about EG, and yet you are not an investor. is 7-11% monthly profit not enough for you?

 

[Pharaoh]

Google proven forex scams?? Do you seriously think that I will believe everything that is written by who knows in the trend? Without any valid proof ?? C'mon! Common sense to you! Will see if anyone comes back here saying "I got my money back because I filed a case or maybe, I spent more money to my lawyer and nothing happens because EG started paying off again. What do you think?

I suggest you dig back through this thread and see how Exential's promises (now broken) match the anti-Ponzi warnings on many regulatory websites.