Hi bro. Did you checked this, https://community.beonboost.com/c/investigation/exential a great source of info to have a good idea about how and whats is going on
Ponzi Scheme TadawulME / Exential Group:
- Thread starter samsam9000
- Start date
Guaranteed profits become guaranteed losses.
SilentSpectator
Sergeant
- Messages
- 141
I've also said this before, if the law stuck it's nose in and declares that Exential's operations was legit, i would re-invest quadruple the amount of my previous exposure.
You see Bingo, not all people are contented with hearsays. We worked hard for our money and would like to perform due-diligence prior to taking risks. In the case of Exential, help from the authorities are required since they are not properly licensed nor regulated. It also didn't help that RMs are as bull$#!++¥ and uncooperative as they get.
In the first place I really don't understand how did you guys even invest such huge amounts blindly with the greed to make money....2nd when URL are given a chance to give E.G. Time to payback there are people pulling the whole thing down and spending more money on lawyers and firm who are making more money out of you and your situation....definitely the Dubai law knows what they have to do...however if SL serves his time I don't think he would have to pay any of us...I surly think we should think of this as a point for all the clients with E.G. Instead of individual returns...we could give it a shot and speak to E.G. To see the best way to sort it and have it under the law that SL will pay fairly and everyone's issues are resolved...we have jobs families and life in UAE rather than running around every single day for our hard earned money we can sort it wisely...just my point of view as a client that's why till date I never found it necessary to be on these forums but we all have to help ourselves and help E.G. Pay us back what we deserve
SilentSpectator
Sergeant
- Messages
- 141
How do you think they can pay you your money back when others who checked directly with the brokers saw that their funds lost somewhere around 75% of the value? Sime didn't even have acounts opened for them with the said brokers? Where would EG get the money to pay everyone back?
Sorry but I'll be blunt to drive home a point. EG is a scam and money was lost the moment the victims handed them over to those incompetent posers who effed-up trading your money. Seeking help from the law is the best bet you have to get the most of what can still be recovered from EG's assets.
1. Prepare your documents -
Whatever you have from exential get translated in arabic. Literally every single page...it includes ur contract copies,screen shots of u r withdrawal details,account details,emails,transfer receipts etc..the more you submit ,better for you...if you have multiple accounts then be smart and translate only 1st and last page of your contract..that will save you lots of money..
2. Go to on time typing center in Dubai which is officially appointed typing center from Dubai court. Prepare your application there..180 aed.
3. Go to dubai court..go down to ground floor and get the copies of trade license for exential and tadawul, copies of their immigration letter and copies of Cid report. All this will be done at the same place on different counters at the ground floor..it's free of charge..
4. Take all this documents to Dubai court and take the ticket to file a civil case..they will give you this at the reception when you show them your papers. Go on the respective counter and open your case...they will calculate the court fees which is 6.5 percent of whatever you are claiming or maximum of 20000 aed which they will ask you to pay.
5. If you still have any money to pay then pay the fees and give them the receipt and they will open your file.if you don't have money to pay then ask them for the application to pay your fees later once you get back your money...they will tell you to go to room 256 and get the form.
With the form you need to submit the copies of your passport,emirates Id,your latest bank statements and all the documents which you have prepared before..all this documents will go to the panel of judges which meets every Monday and they will decide of your fees are to be paid now or later or never...
Go back to the same room on Wednesday or Thursday and get your documents back from them.they will tell you if it's approved or not..if it's approved then go directly to file the case and they will file the case for you and will give you your case number..if it's not approved then you will have to pay the fees and file the case..
6. Once you file the case then court will call you within 7 days and will give you the date and time for the first hearing..they will tell you to collect the advertisement to publish it in newspaper..250 aed..which can be done on ground floor as well..you need to collect that newspaper with your case highlighted and submit it to the judge on the day of first hearing..
7..Then it's up to the judge and your luck if exentials lawyer is present or no..judge will give you the next hearing date if he thinks that he doesn't have sufficient documents or evidence or arguments.it can go for 4-5 hearings or less or more.. depends on your documents and response from exential..every hearing you need to publish in the newspaper which is 250 aed..each..
I think it's enough for today..reach till this stage and I would be more than happy to guide you..and if someone else who has reached this level and seeking any advice further ,I would be more than happy to assist..anytime..
One small request for everyone on this forum..
We all accept that it was a mistake and we all are mature enough to take responsibility for our decisions.finally we are all human..there is no need for anyone to be called that they were greedy and idiots etc..we are all fighting to get our money back by legal ways so let's help each other than taunting or putting anyone down...
Thanks for your understanding..
Guys when you invested how many knew what forex was.... and how many knew who their brokers were....and why did most of the investors believe SL and E.G. I'm sure because you guys knew he paid genuinely for the last 5-6 years....and understand we as clients going to lawyers is. Waste of time and money the only person who can get us our money back is SL if you guys do not trust it I'm sorry to say you guys were just silly to invest then and silly to file court case now because of those court cases even the clients who are patient has to wait for longe...all I'm sayin is negotiating is the best option....let's try to contact SL of VL and see how they can pay us back than a few people losing more money on lawyers
Waste of time and money and at the end SL will serve his time and your pockets will be empty
These are exactly the questions that you should have asked before investing. I'm guessing people who are complaining now are those who have invested for the last 1-2 years. So, during those time, how many knew the existence of Google? A simple google on Exential would definitely lead you to this forum (which started in 2014) and a few minutes of reading would give you an idea of how questionable EG is.
So now, even after it is almost proven that EG is a scam (only EG cronies would believe that its not), with all the news that came out, you still believe the SL and VL can suddenly come up with brilliant plans to return your money? They cant even explain where the money is! A simple email like this would help - "Dear Investors, all your money is deposited with XYZ Bank. As I am the bank signatory, I cannot withdraw the cash because I'm in jail. Please lift all your cases and let me be out of jail for 1 week so that I can personally withdraw the cash with XYZ bank and return all the money to you within 1 month - SL". Maybe they can add - "I wasnt able to this before they put me in jail because I was busy with personal life. But I promise to do this as soon as I'm out of jail"
Truth is, taking it to court and recovery (apparently especially here in UAE) is a long process, and its not a guarantee that you will get your money back in full. Any lawyer who will guarantee this, is somehow also doing a scam
Its a scam, and thats how it usually is. But as I have mentioned before, if you file a case, your chances of getting something is more that those who did not. Anyone who defies this logic is irrational. So if you have the extra cash, go ahead and file a case. If you don't have enough cash, logical approach is wait for a case precedence (which is already available) before you file a case so that you wont have to spend so much on multiple hearings, etc. Something that I don't understand is why UAE court is not allowing a class suit. Maybe SL knew this beforehand, thats why he launched this scheme here in UAE, and not in other countries.At the end of this, the truth will be revealed, justice will be served, and SL wont be able to do the same scam to anyone. And maybe, after some time, you will get your money back.
And please, to those who have experienced this, share the knowledge to everyone you know. Warn them about such scheme. Be humble enough to admit that you have been scammed (this is actually the first thing that you should do) and learn from this experience. I'm in this forum because I've learned my lesson with MMA forex.
rizwan.khan
Recruit
- Messages
- 23
Does anybody have the real status of where he's now, he was suppose to either get bail or more jail time in first week of Feb, sent an email to the lawyers but they haven't replied it back yet, Anybody have any information on this?
rizwan.khan
Recruit
- Messages
- 23
RossDean I agree with you but they have not left us with any option other then going legal, we tried to go to their office numerous times but the RM's were arrogant and the way they used to deal with all of us is, Do the hell you want ! Moreover, I have few questions if somebody can answer, when a person is in custody, he have a right to give powers and assign a power of attorney to make amicable solution, why this has not been done till now by SL . Moreover, his wife is out of country, even though she's 1 of the directors as posted by 1 investors on facebook (In short, she have all the powers to do amicable solution) then why she's running away from situation. We have seen 1 lebanese director in the meeting held in Jumeirah creek hotel, why he can't come in public and explain everything and give the reassurance to investors by giving them real facts and proof for everything. I am not against EG and all of the investors are not as well but the only thing which everybody is looking for, is real facts not emails and BS anymore.
