I went again to DMCC to check the license for FCI. This time they told me you need court dicument to get informtion. What is this? They are hiding information for the interest of scam.
Ponzi Scheme TadawulME / Exential Group:
- Thread starter samsam9000
- Start date
Guaranteed profits become guaranteed losses.
There is no consistency I will advice you to go again and again!
Ponzi_Buster
Recruit
- Messages
- 3
This EG is a complete scam and a clear ponzi scheme, but you gotta give it to them for doing this for so long and still been able to fool the customers and the authorities. This is what happens when greed get the best of you. I know for a fact that they have opened trading accounts for most of the customers and if you would check they'll inform you that there's an account under your name but u can never check the balance on your account from either Vibhs, FCI nor any other broker because as per there agreement(an underhanded one) they agreed not to give details other than just the mere existence of the account.
But actually 99% of the accounts are not funded and the ones that were funded too were withdrawn by EG within few days as they get an LPOA to do whatever they want with the clients accounts.
Then to keep running the business and be able to pay customers profits they have to open more and more accounts per month if the number of accounts are lower than the minimum they need to pay the customer profits then they simply cant pay you since they don't do any real trading and they just pay old clients their profits from the new clients money.
So for everyone who has invested in EG I wish good luck in getting their money back since as I Know there's nothing left in your accounts other than just your name and account no.
Expect more details as I get them in the near future
But actually 99% of the accounts are not funded and the ones that were funded too were withdrawn by EG within few days as they get an LPOA to do whatever they want with the clients accounts.
Then to keep running the business and be able to pay customers profits they have to open more and more accounts per month if the number of accounts are lower than the minimum they need to pay the customer profits then they simply cant pay you since they don't do any real trading and they just pay old clients their profits from the new clients money.
So for everyone who has invested in EG I wish good luck in getting their money back since as I Know there's nothing left in your accounts other than just your name and account no.
Expect more details as I get them in the near future
SO we have another new user here "Ponzi_Buster? Are you an investor? or just like other people here who wants to get something ?? I don't think people really understand the situation, how many of you here filed a case? and went to the police? Did you get the result that you were expecting? Answer? "NO" why? because EG is truly legit and when they bounce back next year, some of you will crawl back to open an account. I'm not an investor but I will once I have saved enough. By the way, EG never force anyone to take loans and depend on the profits to pay up your debts or liabilities. Invest and be ready to face the consequence.
I am an investor
And I've been cheated on by EG .. I've invested in forex before and I'm know the risk
But in all my heart invistments I monitor the profit .. And if it's not going well., I do stop the trading .. Lose some money money and move on
Which was the reason why I joined EG cuz I've been told I'll watch the trading process .. And withdraw in 20 days if I want
I don't mind losing money .. But the case here .. I lost everythink
EG decided never to pay me back
So don't you dare talkin about them being legit
here comes mr. contradiction again
Yes, EG never forces anyone to take a loan, but you are crazy not to take one either. With a history of 7-11% monthly profit, and a supposedly guaranteed return of capital within 20 days, you are crazy not to put all your savings with them Personal loan is only 8-12% average annual interest. EG is giving that percentage monthly. So I still dont understand why you wont move heaven and earth to invest with them. Or maybe you are indeed contradicting yourself. I think you are no different than many of the non-investors here. You don't actually believe that EG is legit. You are just waiting for EG to be proven a scam or not.Shu-op01: Have you ever heard of leverage? Debt financing? A logical person will always take up loan if the return is high! You can ask the old investors of exential and they will confirm to you they took some loans also. It just so happened that at this stage they have recovered their capital already that is why they worry no more.
Secondly, you should not point out this "loan" thing because it was exential who made the breach, filthy promises and bull**** emails they couldn't commit. Why blame those people who took the loans? Investors are not the one at fault here! Exential is. You cannot defend Exential by pointing out the mistakes of its investors. That is a red herring. You are simply diverting the issue.
You have a plenty of time to save money because there will be no pay-out this year or even next year. So don't make your hopes too high.
SilentSpectator
Sergeant
- Messages
- 141
Try withdrawing one of your monthly profit with EG. Tell me when (and if) you succed
Unfortunately, he's not a member and never was, so he won't understand. Legitimate companies operate according to the law. If the written contract requires you to return the capital within 20 working days, you have to do so, otherwise you are breaking the law that enforces the contract.
To you smart "Batibot69" - Have you ever heard about RISK? It's funny how you put every blame in EG when a year back, a lot of people here are praising EG how good it is. And now that they are facing some challenges, you guys are putting them down. I'm not saying also that EG was not at fault but lets be honest, you took loans at your own risk.
Also, if EG is scam - it should have been proven now. And they should have fled the country. Sidney is still in town and constant meetings are happening to get everything settled. That's it! Stop whining! GOODLUCK!
