Ponzi Scheme TadawulME / Exential Group:

[nikel7]

Hello Guys,

I have also spoken to the investigator and asked various questions.

i am an investor myself, and still fighting for my 1 account.

if its one thing i learned from this is that do not send money to people you do not trust to magically give you a service. some people prey of the weak and vulnerable.

please stay safe and be wise, we have already lost a lot and are fighting back for it.

Definitely true. Only send money if you believe in what you really want to achieve.

As of today, it's also true that spending more money for legal and investigative advises may seem unproductive, however, if you have lost 100k+ with Exential, I would not mind in "paying 5k+ in legal and investigative services". Especially now where in my case I have won the case within the Dubai court where Exential is owning me more than 138,000 USD and I don't mind in spending another 1,000 USD for the investigation process.

With this in mind I am sharing with you part of the email from my lawyers explaining to me what will the scenario be in the event Exential will not appeal to the Court decision within 30 days:

"Dear .....,

Kindly be advised that if Extenial files an appeal within the legal period of 30 days, then it will not be possible to file for execution to recover your investment.

As for the scenarios regarding the appeal, they can be summarized as follows :

Scenario 1 : The appeal court accepts the merits of the appeal and issues a decision or revert the case back to the court of first instance.
Scenario 2 : The appeal court sees that the first instance verdict is correct and upholds its merits and accordingly, decides to reject the appeal and uphold the first instance verdict.

In case the appeal is rejected or not filed on time, we will then file for execution. Upon filing an execution file in court, the execution department notifies the opponent with the execution and then start inquiring about their assets and monies within the UAE.

After making an inventory of the assets and monies, the execution judge issues an order to place these assets under attachment in order to start liquidating them and getting the monetary amount mentioned in the verdict."

As highlighted in black, and ahead of all this long process, I assume that this is exactly what the financial investigator will do. Even the Court might probably have issues in identifying my assets. Now, what if my assets are not in UAE? What if the Court decides to hire another expert for this assignment just as they did for the accountant expert? I don't want to loose some more time and bump into other risks and this is why I don't mind now in hiring this freelance investigator for 1,000 USD to do this work ahead.

 

[Tanjara]

Makes perfect sense in your case.
As per your lawyer's email this might still take a while. And you might be speeding the process with the investigator.

As per MAD advocates, many people have filed a case through them and I will only assume that all cases will have (if not yet) the same verdict from court of first instance. I wonder when was the first rolling. If we got that we will know what will be EG's strategy.

 

[GStains]

So i contacted FCI and have managed to get my account details.the statement shows $99 account balance!
What next?

 

[Maliacole2015]

Definitely true. Only send money if you believe in what you really want to achieve.

As of today, it's also true that spending more money for legal and investigative advises may seem unproductive, however, if you have lost 100k+ with Exential, I would not mind in "paying 5k+ in legal and investigative services". Especially now where in my case I have won the case within the Dubai court where Exential is owning me more than 138,000 USD and I don't mind in spending another 1,000 USD for the investigation process.

With this in mind I am sharing with you part of the email from my lawyers explaining to me what will the scenario be in the event Exential will not appeal to the Court decision within 30 days:

"Dear .....,

Kindly be advised that if Extenial files an appeal within the legal period of 30 days, then it will not be possible to file for execution to recover your investment.

As for the scenarios regarding the appeal, they can be summarized as follows :

Scenario 1 : The appeal court accepts the merits of the appeal and issues a decision or revert the case back to the court of first instance.
Scenario 2 : The appeal court sees that the first instance verdict is correct and upholds its merits and accordingly, decides to reject the appeal and uphold the first instance verdict.

In case the appeal is rejected or not filed on time, we will then file for execution. Upon filing an execution file in court, the execution department notifies the opponent with the execution and then start inquiring about their assets and monies within the UAE.

After making an inventory of the assets and monies, the execution judge issues an order to place these assets under attachment in order to start liquidating them and getting the monetary amount mentioned in the verdict."

As highlighted in black, and ahead of all this long process, I assume that this is exactly what the financial investigator will do. Even the Court might probably have issues in identifying my assets. Now, what if my assets are not in UAE? What if the Court decides to hire another expert for this assignment just as they did for the accountant expert? I don't want to loose some more time and bump into other risks and this is why I don't mind now in hiring this freelance investigator for 1,000 USD to do this work ahead.

Thanks a lot for this detailed report.
I wonder what if all money is out of the UAE?
How the execution judge will be able to claim to recover your investments?
What will be next if there is no money at all?

 

[Pharaoh]

Thanks a lot for this detailed report.
I wonder what if all money is out of the UAE?
How the execution judge will be able to claim to recover your investments?
What will be next if there is no money at all?

That's where digging out where all the money went is important. Most likely, the people behind the Ponzi have bought themselves some nice cars, houses, jewelry, etc.

 

[Maliacole2015]

That's where digging out where all the money went is important. Most likely, the people behind the Ponzi have bought themselves some nice cars, houses, jewelry, etc.

So what if all these earings and cars are left only. If no more money on the accounts? What next?

 

[Voice Of Logic]

Hi All,

I was the devil's advocate until it was clearly proven that the trading they were showing us is not the trading they were actually doing; I received the statements of my accounts from FCI and they confirmed the same.
So basically, they were losing our money instead of making it.
I regret if I have misled anyone in the wrong direction earlier...

FYI, half my accounts were with FCI and the other half is with FC Prime "maybe"...
I managed to recover what's left in my accounts with FCI... 43% of the initial investment... (the rest was lost in their adventurous trading as per the statements)
However, FC Prime are not answering any of my calls or emails; it looks like they are in the game with EG...

I'm still wondering how they were showing good profits on myfxbook! They are probably manipulating them also...

Good Luck & Regards.

 

[SilentSpectator]

So what if all these earings and cars are left only. If no more money on the accounts? What next?

Depending on the type of business (LLC, partnership etc) and the reason for cessation of operations (bankruptcy, fraud etc), a company's liability may extend up to the owners' personal possessions. If there's no money left in the accounts to cover what the court orders them to pay, company assets, and in some cases owner's assets, will be liquidated to try and cover what they owe.

 

[totalpips]

Hi All,

I was the devil's advocate until it was clearly proven that the trading they were showing us is not the trading they were actually doing; I received the statements of my accounts from FCI and they confirmed the same.
So basically, they were losing our money instead of making it.
I regret if I have misled anyone in the wrong direction earlier...

FYI, half my accounts were with FCI and the other half is with FC Prime "maybe"...
I managed to recover what's left in my accounts with FCI... 43% of the initial investment... (the rest was lost in their adventurous trading as per the statements)
However, FC Prime are not answering any of my calls or emails; it looks like they are in the game with EG...

I'm still wondering how they were showing good profits on myfxbook! They are probably manipulating them also...

Good Luck & Regards.

I've mentioned it way back about manipulating MyFXBook. Its not the websites fault as they only display whats given to them.

FC Prime is owned by SL (or cronies) as mentioned previously. So they will own an MT4 server at the very least. Once you have your hands on an MT4 server, its very easy to feed it with data that can be manipulated. Hence why MyFXBook is smelling like roses, whilst actual (and now verified) accounts show significant losses.

There have been a few here, who have like yourself, have been the voices of logic (and reason), contrary to what the disbelievers have been wanting to hear. I'm glad this sad, sorry saga is coming to an end.

As for my colleagues still embroiled in this drama - I have told them to take the court case findings of this first result, straight to Exential Office and quietly whisper that they want their money back now, else they will follow the example of nikel7 and file. Its their only option now as they refused to become involved with the courts.

And for those asking questions about what will happen if the money is shipped offshore or doesn't exist. Well look at MMA. Owner went to jail (although out now). If EG does not have the funds to pay after a court order, then the owner/s will be doing some hard time. Wont be long enough for most of those who have lost their savings but a small consolation.

 

[Maliacole2015]

I've mentioned it way back about manipulating MyFXBook. Its not the websites fault as they only display whats given to them.

FC Prime is owned by SL (or cronies) as mentioned previously. So they will own an MT4 server at the very least. Once you have your hands on an MT4 server, its very easy to feed it with data that can be manipulated. Hence why MyFXBook is smelling like roses, whilst actual (and now verified) accounts show significant losses.

There have been a few here, who have like yourself, have been the voices of logic (and reason), contrary to what the disbelievers have been wanting to hear. I'm glad this sad, sorry saga is coming to an end.

As for my colleagues still embroiled in this drama - I have told them to take the court case findings of this first result, straight to Exential Office and quietly whisper that they want their money back now, else they will follow the example of nikel7 and file. Its their only option now as they refused to become involved with the courts.

And for those asking questions about what will happen if the money is shipped offshore or doesn't exist. Well look at MMA. Owner went to jail (although out now). If EG does not have the funds to pay after a court order, then the owner/s will be doing some hard time. Wont be long enough for most of those who have lost their savings but a small consolation.

Nice..
2 years of jail only and millions on your accounts are waiting you in Gibratltar for example.