Ponzi Scheme TadawulME / Exential Group:

[Superhuman82]

Seeing that Pharoah has missed me so much here as to mention me by name, here I am.
With more persistence than a Bernie supporter at a Donald Trump Ralley, some of you really wish your longstanding doomsday predictions of this company come true and from what I've read in the last couple of posts you would think that Exential have all but vanished.
Well they haven't, their offices are still open and they are getting new clients all the time and in fact, they are in a better position then they have probably ever been and I look forward to even higher profits from April.

 

[investorone]

Just to give you an idea on what will happen if you file a case.. This is based on an experience on a case filed in Dubai Court..


You go to the Police station and will file a complaint. The police will evaluate your complaints. As this not an ordinary complaint then they will refer you (or forward your complaints) to another section of government which has the expertise to evaluate your complaints. For example if your complaints is relating to medical malpractice then they will forward your documents to Dubai Health Authority. That section of the government will evaluate your complaints based on submitted documents and will provide feedback to the police station. If the feedback is favorable to you then the police will file a case in Dubai Court. Once the Dubai Court accepted the case (or decided to prosecute the other party) then a Case No will be issued. Congratulations you have now a case no and so the next process will begin. Note that the important part of this initial process is the Case No. If you don’t have case no then it means you’re just wasting your time.


The Prosecutor will be your lawyer. The other party will be summoned regarding the case. The other party through their lawyer will submit an affidavit along with the evidences. I don’t know what will happen at this stage but if the case will continue then a court hearing will be set. Again the prosecutor will be your lawyer and the other party will send their lawyer for the court hearing. If there is no other issue then the Court can provide a decision after the first hearing. Normally it will take X no of days after the first hearing before the court will provide a decision. If there are other issues then another hearing will be set and the same process will be followed.


If after all the court hearings the court decided on your favor then the next step for the other party is to file an appeal. Another court hearing will be set.


If after all the court hearings and appeals the court finally decided on your favor then the court will set the amount of compensation you will receive and the date as well. Note that as per my understanding the case is just a civil case so only compensations will be set and there is no jail time.


This process will take at least 6 months to 1 year I believe. I wish everyone a Good Luck.

 

[Superhuman82]

One thing is is for sure is that it takes at least a year to file a case, if it even gets heard.
That is just the criminal part of the case. If they are found guilty, you can lodge a civil case in which they can lodge numerous appeals and if you win at the end of it Dubai Courts will take 10-20% in court fees and that excluding your own lawyers fees, I know all this from personal experience.
Good luck and enjoy picking collecting all your crumbs while the rest of us will be getting handsome profits!

 

[riderX]

hey investorone. its been a while.

thats the normal process. but with mma, because of the amount involved (collective number of people who complained), the other party was summoned in less than a month. verdict was handed over the following month (at least at the initial court). so it depends i guess. but really, what evidence can they actually give for not honoring a 20 days payment agreement? if they will use the bank delay due to ISIS thingy excuse, then they will be in deeper hole. EGs lawyer must be really good if they can get away with this.
nonetheless, if this case will drag for 6 months, then its still okay since EG will not allow withdrawal within the next 6 months anyway. and thats on the premise that they will honor this. wat if they will request another 6 months after the 6 months have passed? they did not honor a written 20 days agreement, whats the assurance that they will honor this 6 months verbal/email/one sided stipulation? (heck, we could not even call this as an agreement).

 

[Superhuman82]

Its quite simple really, the first judge will throw this out of court and even if you appeal, it will take a more than a year to conclude as the contract did say "20 days" but it also said that date could be "amended".
Thats what they have done, made an amendment to the contract to facilitate a larger account size and It is also not so "one-sided" as you claim as the profit percentage is also going to increase with this capital increase.

 

[delasoul]

Those who closed their accounts and 20 days waiting period had lapsed, i suggest you go straight to Dubai Court to file a complaint. The more complaints they get, the faster our money will be returned. (I am just assuming Exential has not ran away yet)

 

[investorone]

hey investorone. its been a while.

thats the normal process. but with mma, because of the amount involved (collective number of people who complained), the other party was summoned in less than a month. verdict was handed over the following month (at least at the initial court). so it depends i guess. but really, what evidence can they actually give for not honoring a 20 days payment agreement? if they will use the bank delay due to ISIS thingy excuse, then they will be in deeper hole. EGs lawyer must be really good if they can get away with this.
nonetheless, if this case will drag for 6 months, then its still okay since EG will not allow withdrawal within the next 6 months anyway. and thats on the premise that they will honor this. wat if they will request another 6 months after the 6 months have passed? they did not honor a written 20 days agreement, whats the assurance that they will honor this 6 months verbal/email/one sided stipulation? (heck, we could not even call this as an agreement).

MMA is different. The owners vanished. That's the reason why the government intervene immediately. EG is still there with their lawyer on their side. It appears that all their recent correspondences are well thought of and written so probably their lawyers are advising them now (I'm guessing). Their lawyer will be happy if someone will file a case against EG.. More cases means more time required for their lawyers and more billable hours for them.

EG is well exposed now to media, social media and probably to all the FX forums out there... :-0.. But they are still there and not running or hiding. If I'm running an illegal scheme and with all these news all over my company I should probably disappeared by this time.. Just saying.

 

[riderX]

if the contract did say "it can be amended by just ONE PARTY", then its gonna be difficult. please double check the contract.

and yes. i stand corrected. mma owner did left their office. but its also good to note that they left their office just days after the victims decided to file a case in court (after 10 months) thats why after knowing that they have left their office, the victims went to the police.

at the end of the day, this is good for the general public. the sooner that EG will be proven (or not proven) as a ponzi, the better. but until then, i hope that no new investors will put their money with EG.

 

[fandf39]

if the contract did say "it can be amended by just ONE PARTY", then its gonna be difficult. please double check the contract.

and yes. i stand corrected. mma owner did left their office. but its also good to note that they left their office just days after the victims decided to file a case in court (after 10 months) thats why after knowing that they have left their office, the victims went to the police.

at the end of the day, this is good for the general public. the sooner that EG will be proven (or not proven) as a ponzi, the better. but until then, i hope that no new investors will put their money with EG.

It does not say that it can be changed on the capital return.
It says that monthly profit payments dates can be amended by EG.
So for capital return it is 20 days and no changes on this.

 

[delasoul]

Its quite simple really, the first judge will throw this out of court and even if you appeal, it will take a more than a year to conclude as the contract did say "20 days" but it also said that date could be "amended".
Thats what they have done, made an amendment to the contract to facilitate a larger account size and It is also not so "one-sided" as you claim as the profit percentage is also going to increase with this capital increase.

If there is probable cause and clear breach of contract then the court will favor the complainant. Could be amended means mutual agreement. If both parties don't agree, the contract is automatically terminated and the old contract clause is enforceable. Why would Exential hold clients' money who already closed their account? Filing a court case now is a lot better than filing it after Exential runs away.