Ponzi Scheme TadawulME / Exential Group:

[crabber]

I sent an email to the consumer rights and this is what I was told:

Dear ***

Thank you for contacting Consumer Rights Dubai.


Please accept our sincere apology for not being able to process your complaint because it is out of our scope, you may contact the Dubai Media City Authority at:


·Tel. No: 04-3914555

·E-mail Address: info@dubaimediacity.ae


Should you require any further information, please do not hesitate to contact us.

It is within their remit as breach of contract is a legal matter therefore a law must cover it so the police should assist. You should email back and state the above and if it is not their remit then they should direct you to the correct police department. When I contacted them they did not state that this is not their remit but advised I provide any supporting documents etc.

Might be worth giving them a call.

 

[lady23]

It is within their remit as breach of contract is a legal matter therefore a law must cover it so the police should assist. You should email back and state the above and if it is not their remit then they should direct you to the correct police department. When I contacted them they did not state that this is not their remit but advised I provide any supporting documents etc.

Might be worth giving them a call.

Hi Crabber, but nikel7 sent an email to consumer right but got nothing from them instead asked him to report in Dubsi media city authority. have you done consulting with the Dubai consumer?

 

[yrwecomplaining]

equity is at 27 per cent according to my fx book, they had a drawdown just short of 40 per cent

 

[alimehana]

Hi Crabber, but nikel7 sent an email to consumer right but got nothing from them instead asked him to report in Dubsi media city authority. have you done consulting with the Dubai consumer?

equity is at 27 per cent according to my fx book, they had a drawdown just short of 40 per cent

ca

equity is at 27 per cent according to my fx book, they had a drawdown just short of 40 per cent

can u explain what dose that mean

 

[yrwecomplaining]

Equity from the last update from my fx book shows now equity at 33 per cent.

Look if I have too explain too you what equity means, them if your an investor you probably should not be investing. With all the greatest respect.

Well put it this way, if you invest 20k and they loose 10k with all trades and present open positions, your net holding at that moment would be 10k.

That my friend is equity

 

[yrwecomplaining]

hence if you invested 100k usd your position in the investment would be worth 30000 or so. I hope that helps too understand

 

[Loser]

Please help me guys. I upgraded to new account 25k. 2 weeks ago I cancelled the contracts. EG is asking me to sign a letter for processing the termination of contracts. What should I do?

 

[Dredd]

Nothing about these crooks surprise me anymore. If you don't get any support from any if the authorities, go to the media.
7 days would gladly cover the story. The director is obviously run away as all his cronies with fake profiles have not managed to prove his presence in Dubai when I challenged them on this forum.
They are playing all sorts of desperate games. My brother has just initiated a complaint with Australian securities and investments commission (ASIC ) and FSC financial services commission in Mauritius.
Let them explain how the money is stuck in their BS banking regulations.
I suggest everyone to approach these people on their website and report EG as they are the regulators for FX PRIME and FCI. My brother spoke to someone in ASIC amd they stated that FC PRINE does not even have a LICENCE to carry out FOREX trading in Australia...! Can you believe the nerve they crooks have to Lie to everyone.
Don't let them get away !

 

[riderX]

hence if you invested 100k usd your position in the investment would be worth 30000 or so. I hope that helps too understand

Did it suddenly drop to 33% ? Was it 100% + few days ago?

 

[lady23]

okay..so after sending another follow up on EG for the release of our money since its our 6th month now. and this is the reply that we got! they have no right to hold our money like this! why cant they just return it! we have withdrawn our money since January why they are telling us now this things? in the first place we should not be part of this new term since the withdrawal has been done already! this should be applied to new withdrawals! crazy!

From EG RM:
Kindly note that we are currently not able to entertain withdrawals and account closures due to the limited availability of transfer channels and business limitations. In order to continue the sustained life of the investment and to safeguard the interest of the clients investment, Tadawul ME Managed Accounts Program has decided to withhold the payment of all account closures temporarily.

This action has been taken in complete good faith with the sole intention of ensuring the safety of the whole program.

In the event, if you wish to discontinue the investment the policy adopted by Tadawul ME Managed Accounts Program shall apply and payments shall be made more or less within a minimum of 9 months from the date of acceptance of our new terms and conditions / amended Investment Agreement.

You are hereby requested to visit the office in the below mentioned address to sign and acknowledge the same.

this is ridiculous!