Ponzi Scheme TadawulME / Exential Group:

[mmcruz]

Kindly send me a copy of your revocation of POA letter so I will have an idea on what to write. Thanks a lot.

 

[FraudKiller]

Just a subtle point of information that few people probably know:

The Securities & Commodities Authority (SCA) in the UAE with their Dubai very close to the Dubai International Airport in Deira ONLY regulates the business of.... ta daaaa! You guessed it! Securities and Commodities and NOT forex. The UAE SCA has ZERO knowledge of forex so when a forex brokerage firm tells you that they are regulated by the UAE SCA, well just Yawn and go find another broker. BTW, there is a very fine and unclear line between whether or not a forex broker regulated by the UK FCA is indeed entitled to have a wholly-unregulated branch in the UAE. The UAE SCA will tell you that any forex broker must be regulated by the UAE Central Bank i.e. Swiss Quote and a few others.

Be very sure I WILL get the definitive answer to the question.

 

[riderX]

Could either be under central bank (for LLC) or with DIFC (for freezone). If they are not under any of these, then be vigilant
EG was using S&S Brokerage as their marketing tool since S&S is registered with UAE central Bank. I'm guessing that this is one of the reasons of the delay because S&S connected with the Al Nahyans.

 

[totalpips]

Could either be under central bank (for LLC) or with DIFC (for freezone). If they are not under any of these, then be vigilant
EG was using S&S Brokerage as their marketing tool since S&S is registered with UAE central Bank. I'm guessing that this is one of the reasons of the delay because S&S connected with the Al Nahyans.

And now S&S has washed their hands of EG - with claims of not having any business with them at all..

Still a long road ahead I imagine for those waiting on the court hearing determinations. Watching this thread with interest.

 

[riderX]

looks like somebody won a case against EG. It includes court fees and interest. now its a slap to those who always say that "its useless and to file a case".

 

[Sasumba]

looks like somebody won a case against EG. It includes court fees and interest. now its a slap to those who always say that "its useless and to file a case".

Hi riderx, any details about that case?

 

[riderX]

Hi riderx, any details about that case?

go to this site
http://www.dubaicourts.gov.ae/portal/page/portal/dc/inquiries

case type : commercial, summary (scroll a lot further down)
year: 2016
serial number: 1284

basically the guy won the case. court ordered EG to pay 29k usd, plus 9% interest, plus court fees. (so lawyer fees is not included).

timeline for payment is not defined yet. it will probably go thru recovery process. but bottomline is that a court order has been granted.

 

[Sasumba]

go to this site
http://www.dubaicourts.gov.ae/portal/page/portal/dc/inquiries

case type : commercial, summary (scroll a lot further down)
year: 2016
serial number: 1284

basically the guy won the case. court ordered EG to pay 29k usd, plus 9% interest, plus court fees. (so lawyer fees is not included).

timeline for payment is not defined yet. it will probably go thru recovery process. but bottomline is that a court order has been granted.

thx, how can we tell this is his case, no names or details of who won? It just says decided.

 

[riderX]

thx, how can we tell this is his case, no names or details of who won? It just says decided.

go to exential- tadawulMe free communication fb page. check the latest post. the guy posted the arabic letter (with a bit of translation).

 

[oldtimefxer]

thx, how can we tell this is his case, no names or details of who won? It just says decided.

The Court does not post any identifying information.
But if you know what you are looking for, you can get the info.