Ponzi Scheme TadawulME / Exential Group:

[R1991]

Hello All.

Does anyone have any execution orders which were enforced so far?

 

[Bingo]

I'll answer that for you R1991.

No and it will never, ever be enforced.

Do you understand now?

We all lost on the day that office was shut down.

 

[Pharaoh]

I have another possible motive for Bingo - He's realized that every person he can discourage from filing a claim will mean that there's more money available to pay his claim.

 

[downtrend]

My advice will be to start with little money if anyone really have to start with them. I think there are some companies with good reputation and we should look for them instead of putting money in new companies.

 

[nikel7]

Update from the lawyers on the dispute:

- According to lawyers, no assets were available/found with any bank in UAE.
- NQB Bank has replied saying that EG has labor guarantees which has been seized due to labor cases against Exential (don't know what this means)
- RTA also has stated that no land nor cars are owned by EG.
- A request has been made to inquire about the stocks from the Dubai and Abu Dhabi stock exchange authority.

 

[Kokomaster]

By looking at these update things are not looking good. I hope these updates are from a valid source and things can get better.

 

[Pharaoh]

My advice will be to start with little money if anyone really have to start with them. I think there are some companies with good reputation and we should look for them instead of putting money in new companies.

Ummm... This wasn't like a brand new company. I believe they'd had a license of some sort for awhile, but then started an investment plan which was a perfect match for all the usual Ponzi warning signs.

New companies should be watch for awhile, but this doesn't mean old companies are safe. The rule that "If something sounds too good to be true, it is" applies without regard to the age of the company.

 

[VCLMediaPlayer]

Guys chill. Just take a break from all this and go for a long vacation. Sip a beer. Nobody ain't getting their money back in next 10 years or even after that. Surely not until SL is out. It's been 6 months already he has been behind the bars. By now he might hav even lost the practice of using a mouse or a touch pad. Trading is very very far away.

 

[4xjoe]

Guys chill. Just take a break from all this and go for a long vacation. Sip a beer. Nobody ain't getting their money back in next 10 years or even after that. Surely not until SL is out. It's been 6 months already he has been behind the bars. By now he might hav even lost the practice of using a mouse or a touch pad. Trading is very very far away.

What if he has invented another 10 strategies to trade and is trading and making money for himself already? Your mouse will be out of control if this is true!

 

[chris146]

Guys chill. Just take a break from all this and go for a long vacation. Sip a beer. Nobody ain't getting their money back in next 10 years or even after that. Surely not until SL is out. It's been 6 months already he has been behind the bars. By now he might hav even lost the practice of using a mouse or a touch pad. Trading is very very far away.

Hopefully SL will get true justice and go away for as long as he deserves. Hopefully that is much longer than 10 years. I would say that when/if SL ever does get out then that will be the least likely time he would be willing to repay anybody, as he would no longer have any incentive to do so.
However it would be great if the courts could somehow give him a slightly reduced sentence if he were to fully co-operate and surrender all his ill gotten gains - then maybe there is a hope that victims will not have to wait that long.
Now there are ongoing asset tracking investigations taking place outside of Dubai, so there may very well be some recoveries for some of the victims. It seems that there are multiple efforts underway that involve multiple parties so it will be interesting to see who gets what?