Ponzi Scheme TadawulME / Exential Group:
- Thread starter samsam9000
- Start date
Guaranteed profits become guaranteed losses.
larz
Corporal
- Messages
- 77
Just visited the website and it reads:
The site ahead contains malware
Attackers currently on tadawulme.com might attempt to install dangerous programs on your computer that steal or delete your information (for example, photos, passwords, messages, and credit cards).
Therefore, TadawulME / Exential Group is a complete scam. Google Chrome knew it.
The site ahead contains malware
Attackers currently on tadawulme.com might attempt to install dangerous programs on your computer that steal or delete your information (for example, photos, passwords, messages, and credit cards).
Therefore, TadawulME / Exential Group is a complete scam. Google Chrome knew it.
That's the incorrect website for Exential, therefore I suggest before you post to do your homework before making incorrect comments.
Moderation Team Note: It would be helpful if you would include the correct link.
larz
Corporal
- Messages
- 77
Pharaoh
Brigadier General
- Messages
- 20,326
Of course, the helpful thing to do would be to point out that this company abandoned Tadawulme.com (which is also mentioned in this thread) and now primarily resides at exentialgroup.com.
Here's an item from their FAQ that certainly should help clients stay awake worrying at night:
We are based in the British Virgin Islands (BVI) and Seychelles with a Rep office in Dubai, UAE.
Based in 2 virtually unregulated jurisdictions.
Hi everyone
Had a nice meeting with one of the Exential representative at their office in Media City.
Went for the meeting after reading the 13 pages of this thread, and ask some of the hard questions : who are the owners of the company, what guarantee do I have you won't run away with my money, when a performance is too good to be true then usually it is, why is it so opaque, why not to give a Read only access to the trading account, how Exential story is different from MMA etc...
Not all the answers I got were very detailed, but I could feel the person I had in front of me had probably heared those questions before and was well prepared.
The meeting lasted one hour.
Well, my gut feeling is that it's not all transparent, and maybe there is something fishy there. But the guy I had in front of me seemed pretty confident in what he was saying. He also mentionned that Exential is expanding internationally, with shortly offices in Hungary, Australia etc....
Soooooo. ...
I guess just like many of their clients, greed is guiding my mind, and I am about to open an account with them. Finger crossed, all of it will not collapse in the next 12 months, till I recoup my investment.
I have a question. They offer now the option to choose between 2 brokers:
- FCI Market, based in the UAE, where the account will be in AED. The problem is that the account with FCI is a segregated account in the name of Exential and not my name
- Ellipsys, based in Mauritius. There the segrateted account will be in my name, but it's in Mauritius ....
Which option among those 2 would you recommend, and why ?
cheers
Had a nice meeting with one of the Exential representative at their office in Media City.
Went for the meeting after reading the 13 pages of this thread, and ask some of the hard questions : who are the owners of the company, what guarantee do I have you won't run away with my money, when a performance is too good to be true then usually it is, why is it so opaque, why not to give a Read only access to the trading account, how Exential story is different from MMA etc...
Not all the answers I got were very detailed, but I could feel the person I had in front of me had probably heared those questions before and was well prepared.
The meeting lasted one hour.
Well, my gut feeling is that it's not all transparent, and maybe there is something fishy there. But the guy I had in front of me seemed pretty confident in what he was saying. He also mentionned that Exential is expanding internationally, with shortly offices in Hungary, Australia etc....
Soooooo. ...
I guess just like many of their clients, greed is guiding my mind, and I am about to open an account with them. Finger crossed, all of it will not collapse in the next 12 months, till I recoup my investment.
I have a question. They offer now the option to choose between 2 brokers:
- FCI Market, based in the UAE, where the account will be in AED. The problem is that the account with FCI is a segregated account in the name of Exential and not my name
- Ellipsys, based in Mauritius. There the segrateted account will be in my name, but it's in Mauritius ....
Which option among those 2 would you recommend, and why ?
cheers
Pharaoh
Brigadier General
- Messages
- 20,326
Salesmen are paid to act confident in their products. If they aren't very good at this, they don't keep their jobs.
There's something much worse than a salesman out there. It's a con man. He's paid to use confidence to get innocent victims to willingly throw their money into a scam. Read each of these carefully and look how people fought hard to believe that each of these so-called amazing investments wasn't a scam (all of them were):
Secure Investment
CRE Capital
MyTIRN
In each case, people let greed, desire, and vague reassurances from con men lull them into throwing away both their common sense as well as their cash. In each case, people spent quite a bit of time telling me what a bad person I was for questioning the reality of the claimed returns. A few people (who are only a short step above the criminals) decided that even it it was a Ponzi, they could invest immediately and make back enough money to come out ahead before it collapsed - while not caring if their early cash infusions helped to keep the crime running longer and resulted in more people losing money.
If a managed forex firm can't clearly answer all of you questions to your satisfaction, that's a HUGE warning sign.
Until all of your questions are fully answered and you are 100% certain that this isn't a scam of some sort, you shouldn't put your money in.
There's something much worse than a salesman out there. It's a con man. He's paid to use confidence to get innocent victims to willingly throw their money into a scam. Read each of these carefully and look how people fought hard to believe that each of these so-called amazing investments wasn't a scam (all of them were):
Secure Investment
CRE Capital
MyTIRN
In each case, people let greed, desire, and vague reassurances from con men lull them into throwing away both their common sense as well as their cash. In each case, people spent quite a bit of time telling me what a bad person I was for questioning the reality of the claimed returns. A few people (who are only a short step above the criminals) decided that even it it was a Ponzi, they could invest immediately and make back enough money to come out ahead before it collapsed - while not caring if their early cash infusions helped to keep the crime running longer and resulted in more people losing money.
If a managed forex firm can't clearly answer all of you questions to your satisfaction, that's a HUGE warning sign.
Until all of your questions are fully answered and you are 100% certain that this isn't a scam of some sort, you shouldn't put your money in.
chicken.or.beef
Private, 1st Class
- Messages
- 31
To my fellow EK and Fly Dubai colleagues I am in shock the amount of crew that has „invested” & taken out loans to double their money in 24 months. Please try to withdraw your money, even if only in part, before it is lost. „A small hurt now, is better than a huge hurt later”.
TadawulME / Exential Group or whatever they will change their name to once new account openings drop has a brilliant marketing strategy targeting airline employees. We are prone to take risks, gullible and a large target market that talks and trusts each other. The amount of recommendations and mouth-to-mouth marketing regarding this FX scheme onboard is horrifying. We all came to Dubai to make something of ourselves and to succeed. The reality has been a bit different to our expectations and a get rich quick scheme is everyone's dream of a perfect exit strategy and a way to retire early and live well.
May I suggest Exential Group also opens offices in Qatar and Abu Dhabi ASAP to profit on the airline employees located there.
I have been in Dubai a while, and have seen these schemes come and go, but more importantly their devastating effects – crew losing all their savings, having to flea DXB as loans taken could not be repaid etc. From 2007-2012 we had an SFS, let's call him Ricky Martin (to protect his identity) promoting an identical FX scheme with 8-9% returns in managed FX accounts.
In Ricky's defense, but like many crew today he truly believed that his money was invested in FX and that he was investing and making money. He was charismatic, believed in the scheme and had the power to influence others. Soon he had convinced hundreds of crew to sign up. And these crew relayed news of their huge “paper” profits to others while sitting around the galleys at night and so on.... Ricky had an entrepreneurial spirit and soon started charging crew to assist in setting up their accounts. It all culminated with Ricky's global ambitions and setting up forex4crew.com. We do not hear much about this, because all these crew investors had no choice but to return home when it all went south.
Many South Asian crew were involved in a similar scam named MMA, which also collapsed around 2012.
These scams usually have a life cycle of 4-5 years. TadawulME / Exential Group is nearing the end of theirs. Get out before it is too late!
I understand the crew that are gullible and wanting to make something of themselves. Please heed this warning – this is a scam – Ponzi scheme.
What I am most appalled at is, the crew (particularly flight deck) that realise this is a Ponzi scheme but nevertheless invest/gamble(as they have money to risk) and then promote it. For 12 months they defend and encourage others to take the risk so as to protect their initial investment/gamble.
If you like to gamble, great; but do not not profit at others expense.
Go to a casino, choose black or red and spin the wheel, you can double your money in a minute rather then waiting 24 months and sucking in others.
Making money from this Ponzi scheme, means committing an offense and stealing money from those that you influence to join – your colleagues. Any profits made can legally and should be redistributed to victims that will lose their initial 20000. Beware!
Too good to be true - always is. Just like joining a middle east airline... discourage others to gamble with their future - get out now.
TadawulME / Exential Group or whatever they will change their name to once new account openings drop has a brilliant marketing strategy targeting airline employees. We are prone to take risks, gullible and a large target market that talks and trusts each other. The amount of recommendations and mouth-to-mouth marketing regarding this FX scheme onboard is horrifying. We all came to Dubai to make something of ourselves and to succeed. The reality has been a bit different to our expectations and a get rich quick scheme is everyone's dream of a perfect exit strategy and a way to retire early and live well.
May I suggest Exential Group also opens offices in Qatar and Abu Dhabi ASAP to profit on the airline employees located there.
I have been in Dubai a while, and have seen these schemes come and go, but more importantly their devastating effects – crew losing all their savings, having to flea DXB as loans taken could not be repaid etc. From 2007-2012 we had an SFS, let's call him Ricky Martin (to protect his identity) promoting an identical FX scheme with 8-9% returns in managed FX accounts.
In Ricky's defense, but like many crew today he truly believed that his money was invested in FX and that he was investing and making money. He was charismatic, believed in the scheme and had the power to influence others. Soon he had convinced hundreds of crew to sign up. And these crew relayed news of their huge “paper” profits to others while sitting around the galleys at night and so on.... Ricky had an entrepreneurial spirit and soon started charging crew to assist in setting up their accounts. It all culminated with Ricky's global ambitions and setting up forex4crew.com. We do not hear much about this, because all these crew investors had no choice but to return home when it all went south.
Many South Asian crew were involved in a similar scam named MMA, which also collapsed around 2012.
These scams usually have a life cycle of 4-5 years. TadawulME / Exential Group is nearing the end of theirs. Get out before it is too late!
I understand the crew that are gullible and wanting to make something of themselves. Please heed this warning – this is a scam – Ponzi scheme.
What I am most appalled at is, the crew (particularly flight deck) that realise this is a Ponzi scheme but nevertheless invest/gamble(as they have money to risk) and then promote it. For 12 months they defend and encourage others to take the risk so as to protect their initial investment/gamble.
If you like to gamble, great; but do not not profit at others expense.
Go to a casino, choose black or red and spin the wheel, you can double your money in a minute rather then waiting 24 months and sucking in others.
Making money from this Ponzi scheme, means committing an offense and stealing money from those that you influence to join – your colleagues. Any profits made can legally and should be redistributed to victims that will lose their initial 20000. Beware!
Too good to be true - always is. Just like joining a middle east airline... discourage others to gamble with their future - get out now.
Pharaoh
Brigadier General
- Messages
- 20,326
Spectacular post! Maybe some of these people will finally believe the warning signs since someone closer to the inside is explaining how it works.
I wish victims had a way to press charges against those who knew things like this are ponzis, but kept pushing the "investment" just to keep it going longer to increase their own profits before the inevitable collapse.
P.S. Beef.
I wish victims had a way to press charges against those who knew things like this are ponzis, but kept pushing the "investment" just to keep it going longer to increase their own profits before the inevitable collapse.
P.S. Beef.
