Ponzi Scheme TadawulME / Exential Group:

[totalpips]

Before actually selecting an option, maybe its much better to analyze and realize what you got yourself into. Somebody said in this thread that its the "get out of the denial stage". That it is indeed too good to be true.

Im not too sure about this but I believe EG guarantees the return of your capital (at least) within 20 days. So in that sense, if EG is willing to comply with that agreement, you are not bound to lose your money at all. I wouldnt even call it a high risk investment if thats the case. Its like a savings account with 7-11% monthly interest and withdrawable within 20 days.

A contract is made so that you can enforce somebody to do their part. If somebody has breached a contract, your logical recourse is to report this to the authority and/or file a court case.

It is indeed a contract term - I had to enforce this last year when I withdrew... So yes regardless of what EG say, it is clearly stated in their terms, hence the reason why they are holding any release hostage until you sign their 'new, amended' terms and conditions, which from what I have been told by colleagues still in the scheme - that there will be no firm date for any payments...

If you are happy with signing a document that gives you absolutely no advantages or assurances that your monthly profits or capital are to be repaid in a timely manner - please go ahead. I certainly wouldn't be doing it though.

 

[OmarS1]

New and updated trading licence is now available in court and it showing that Sedney is no longer an EG manager. The bast**d gone and leaving the local Emirati owner dealing with all this mess. .

I am not sure where you gathered the info on the license. This is entirely wrong - I have material evidence that states otherwise.

 

[ShowMeTheMoney]

I can smell insiders here trying to monitor the situation. I have been dealing with these crooks for a good one year (or should I say bad one year now) and they all sing the same tune. "Investment is a risk and you should be prepared to lose", "filing a case is non-sense since it will just cost you a lot of money and time". Anyway, it is obvious that I am sick and tired to deal with this company who very unprofessional to say the least.

I have two accounts with them, one I withdrew more than 3 months back but still couldn't get a clear answer when will I get it and the other is still active. I left the other account to sort of like manage my cashflow after they have promised that if we agree to the restructuring two months back that everything will be back to normal and that monthly income would be average of USD 2500 per month. I was desperate already at that time that I had to bank on this promise, but again the first withdrawal of USD 2500 in 1st of April is still not received as of writing. Now they are proposing another restructuring deal that says that you cannot withdraw in 12 months and payout will be quarterly! I just want to receive my monthly payout for April and May for now, and my capital from my first account back. I am starting to plan my course of action to start filing complaints with the authorities. I will try the suggestions mentioned in this forum. Hopefully if I get some positive developments and I will update you guys if there is any.

You can correspond privately with me at jerry.maguire1709@yahoo.com.ph.

 

[Pharaoh]

The RM is asking me to sign an undertaking stating that they will return the money within a minimum of 9 months!!!.
Can anyone explain where our capital is? According to the RM, my withdrawal will not be processed unless I sign the document..

Your capital is most likely in the pockets of the people behind the scheme.

If you sign, you're agreeing to sit around and give them 9 months (or is it 12 or will they increase it even more) to better hide your cash.

 

[Shu-op01]

I am not sure where you gathered the info on the license. This is entirely wrong - I have material evidence that states otherwise.

Hey OmarS1 - what material evidence do you have? Can you atleast be specific as well? All the people here are just really concerned about the situation. My brother and I had a talk and he is planning to close some of his accounts and as promise, wait until 9 months to get it back. The only question left hanging is, will they honor their promise this time.

I still believe in EG and whoever filed a case, I wish you can enlighten us about the situation. How far are you guys getting back your capital?

 

[Marcelo Rosa]

Hi guys, I just had a meeting with my RM yesterday, as you can see, the profits are still being paid from Apr 03rd (but as I can see here, still some profits from April 1st hasn't been paid yet) so whoever requested after this period, will have to wait longer, the issues with the banks in Australia are still going on and EG is also having issues on setting up partnerships with the banks within the UAE. Basically if you decide to close your account, it will take up to 6-9 months as some of you posted here, but if you really need your money before that period in full, you'll have to file a case. As per my RM, the profits will continue to be paid for those who decide to leave their accounts opened, but there is no fix period of when it will be paid, so it's a hard decision guys, I know few colleagues with $100K or more invested and it was from a bank loan (in my opinion, the most greed and worst decision you can make) that are desperate to get their money or they will face law problems and you know the consequences.

To make it clear, I don't work for EG, I don't promote EG, all I'm trying to do is bring fresh information, I know some RM unfortunately don't answer all your queries and the lack of information just confuses more investors and don't give you a clear direction of the current situation and naturally will make you angry and want to fight for you capital.

ShowMeTheMoney, if you receive your profits at any time, please do update here, I have few colleagues that received from April 1st and 2nd, so you should be receiving yours as soon the pay outs continue.

 

[lady23]

Now the promises are getting longer and longer..we have withdrew our account since January and promise that after 6 months we will get our capital...but up to date we heard nothing from our RM after so many follow ups.. He leaves us hanging and wondering what will happen next.. we don't know anything..they controlled everything its all up to them when they will give back our money. Filing a case is not an option for us as we don't have enough resources and time for that. we're just hoping and praying that soon they will release our money back. and hoping that they will keep their promise. #fingerscross

 

[riderX]

I am not sure where you gathered the info on the license. This is entirely wrong - I have material evidence that states otherwise.

Interesting. Just did a quick search on DED and noted that Exential has a branch created on March 28, 2016. Registered address is in bur dubai. you can still see the trade license since the document is still for approval. The partner is some local guy and SYDNEY MARSHAL AGNELO. Can somebody explain / speculate why they needed to create a branch?

For those who want to see, go this site :

https://eservices.dubaided.gov.ae/P...ion&srp=-1&sfn=-1&ifn=88514878&pn=173956&pn2=

> search for exential in the trade name to see all companies with "exential" name
> Note down the license number and go to transaction status/payment under enquiries
> input the license number of the branch and click the "follow up receipt" and you will see license

 

[SilentSpectator]

@riderX, congrats for piquing my curiousity furher. I'm uploading a PDF copy of the said license.

This must be the same one presented in court when someone claimed that Sydney Lemos is no longer with them, leaving the local guy to sort the mess.

 

[Shu-op01]

Interesting. Just did a quick search on DED and noted that Exential has a branch created on March 28, 2016. Registered address is in bur dubai. you can still see the trade license since the document is still for approval. The partner is some local guy and SYDNEY MARSHAL AGNELO. Can somebody explain / speculate why they needed to create a branch?

For those who want to see, go this site :

https://eservices.dubaided.gov.ae/P...ion&srp=-1&sfn=-1&ifn=88514878&pn=173956&pn2=

> search for exential in the trade name to see all companies with "exential" name
> Note down the license number and go to transaction status/payment under enquiries
> input the license number of the branch and click the "follow up receipt" and you will see license

Is it a bad news to have a branch? When a company put up a branch, what comes to your head?
Expansion because business is doing good right? No one will put up a branch if the other one going wrong. Well, if they have changed the name I will worry but it's the same Exential Middle East Brokers L.L.C (BRANCH). I smell something good to happen, don't jinx it (wink)