Ponzi Scheme TadawulME / Exential Group:

[chicken.or.beef]

This is a classic Ponzi scam. They make withdrawing money as difficult as possible to discourage the investors/gamblers to lose out on the 9% monthly profit (cir. 100% p.a). Very glad you got out in time. Sentiment is turning on this scam. People are finally seeing it for what it is. Pilots are all desperately trying to get their money out before it is too late - you are one of the lucky few.

Ponzi scheme targeting crew - Beware - do not become a victim. - PPRuNe Forums

 

[Pharaoh]

Me to ,,i am part of emirates and now i closed my investments with them am now with a company called smart forex funds now and my money is at uae and i can see my account live (evry moment and i know what is going on ,
And i get my money after 48 hrs max after withdrawal while tadawul takes (15 WORKING DAYS ) why is that delay and where is my money during this time

It gives them more time to calculate if cash input is still ahead of output. The moment that changes, you'll find those delays skyrocketing and will be met with excuses. After enough people complain and new investments plummet, the website will disappear.

 

[SurfO]

Seriously !! this is ur reply for why they take all this time for the withdrawal !! and you already decided that the rest of the investors are the unlucky many !! so im a hardcore FX investor and i find your post insulting to my intelligence and thats why i created my account !!! do u even know what does LEVERAGE means ?

 

[SurfO]

Why is it that all investors instead of heeding warnings,are always asking for proof that it is a Ponzi. Rather than asking the Scheme owner to prove it is not.

Some are finally understanding the danger their money is in, and trying to withdraw. Do not be caught with your pants down this time around. You have been warned.

To give all the investors/gamblers and anyone still considering this scam, clarity on the way you are being scammed, I will try and keep this as easy to understand as I can:

There is a FX part to this Ponzi. Beware it is only a tiny part of it - to give it the air of legitimacy.

Only $50000 (plus $ to cover huge loss in Dec14-Jan15) has ever been invested in FX by this scheme, a drop in the ocean from all the funds investors have given them. - but scary in itself.

You are given access to the myFxbook stats – ANALYSE THEM!. There is 1, and only 1 account with an average investment of $50 000 ( = 2.5 investor/accounts), it is symbolic in nature. Your actual money is never invested in FX.

They claim this account, the “Master”, represents yours. They claim it is “mirrored” and therefore is a representation of your account. Your account is similar to this, but you do not see it, and cannot access it - TRUST US they claim.

The reality is, out of all their customer funds (Millions of $ according to them – probably true) ONLY 1 FX trading ACCOUNT of $50000 exists – the one you have access to and see online. The “Master”

It is like one individual 'show home' at a property marketing event – there is only 1! - but they promise yours also exists and is identical “mirrored”(to use their exact marketing phrases).

The reality is that money deposited by the investors is not used on the FX market, instead it is taken to pay profits to existing members and the rest is taken by the owner, you only see fictitious profit statements in the system. Your money is not invested in FX, only a symbolic $50000 has ever been invested.

They do not even try hard to cover up the facts from people who actually believe a mirrored account exists and believe their money is invested in FX .

Check the Profits on their website vs Myfxbook stats!

FACT: Not enough profit/gain is made even in the “Show home/Master account” to cover your monthly profit of 9%. (myfxbook stats from 2015).

Where are your profits coming from? You guessed it. New members: Classic Ponzi 101

Get out if you still can!

A huge loss was incurred in Dec -Jan - 65% loss. Reason CHF devaluation. Did your profits incur a loss - of course not. 9% as usual..

They recapitalized the “Show Home” - symbolic “Master” account, to cover the loss- and all looks rosy again.

Did they ask you to recapitalize (put additional $ in to cover the loss, as they did in the “Master account) – course not, did your balance drop? - course not. Your money was never invested in FX anyway.

Demand your money back before you lose it all - there might still be time.

Others are already clambering for the door.

Time is up for this Ponzi.

do u even know that CHF was not the TRADED CURRENCY THAT CAUSED THE LOSS in dec on exential account? BUT DID U DIE !!

 

[SurfO]

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.

wayyyyyy to fishy when the same post by the same person surf all the blogs thats related to exential !! u can be doing it for two reasons .

one is your trying to make business indirectly by spreading panic and collecting runners !

two is your a pathetic idiot who is spreading panic in order to sit back and enjoy the view !

now which one are you ? and if you wish to enlighten my path and other investors could you pls shed some light on WHAT PROOF do u have ?
maybe ur genius @PHARAOH can assist you to come up with an answer.

Also in regards to Ricky martin maybe you do your homework on exactly what he was and what he did and how did he leave !! many will know what im talking about , however its not nice to backstab someone behind his back , you never knew the guy and he never had a managed account scheme , do u even know know whats an individual fund manager is ?
And in regards of MMA , are you for real ? do u even know how to google !! i would have loved it if u came up with some legit stuff to convince us , but instead lame post that is not related to exential work !! i want you to tell us all some cool stuff thats beneficial , not to freak us out for nothing ...

 

[Exential_client_2011]

I have invested with Exential Group since 2011. Similar with other new investors, I had the following questions:

1. Legality of the company, which include not only Exential but also the its partners; and
2. Transparency or validity of the trades.

I also considered if this investment is a form of a Ponzi scheme since it offers return above other passive investments.

I did some personal research and found out the following:

Legality
- I have visited the physical office and had a talk with the authorised representative of the Company.
- We have checked the license of Company as well as its partners. S&S Brokerage is regulated by the UAE Central Bank, FCI is regulated by the FSC in BVI and Ellipsys is regulated by the FSC in Mauritius.

Transparency or validity of the trades
- I have known that the trades can be verified by MyFXbook.

For the past two years, I can say that the Company, in terms of transparency, have improved. This is evident by a. providing access of the trades through MyFXbok, b. licenses are made available in the office to all investors, c. newsletter are circulated to clients regularly.

I understand and respect the opinions of others (see previous threads), and I still highly recommend that if you have further doubts, clarifications, kindly visit their office at:

Arenco Tower, Office # 003
Dubai Media City,
Dubai, UAE
P.O.Box 124538

or call its office number +971 04 276 6055.

I would also like to share the newsletter circulated by Exential Group for the month of July 2015 (see attachments below).

 

[VoiceOfLogic]

do u even know that CHF was not the TRADED CURRENCY THAT CAUSED THE LOSS in dec on exential account? BUT DID U DIE !!

And how do you know ? Since there is zero transparency in what they are actually doing ( you do not see actual trade for your particular account for each day there is ).
Basically they feed you what they want but the coincidence is certainly striking.

 

[Exential_client_2011]

Additional attachments...

 

[SurfO]

And how do you know ? Since there is zero transparency in what they are actually doing ( you do not see actual trade for your particular account for each day there is ).
Basically they feed you what they want but the coincidence is certainly striking.

How do i know !!! so myfxbook is a scam website ! and their verified account as REAL and the verified trades after closure is all VIRTUAL !! and the the history of trades is all a scam !! and their office and broker and bank are not on this planet !!
AND HOW DO I KNOW UR NOT A CROOK !! how do i know !! i only know that A MAM EXIST ON EARTH not only used by exential and if this whatsoever MAM is broadcasting trades whether negative or positive on myfxbook and the account is verified than i defo believe myfxbook more than i believe u !! if u actually know anything about trading FX and u monitor their trades then u know its more than possible with the right spread !! however if u dont know anything about FX than why r u commenting !!

 

[SurfO]

At last I begin reading comments giving me hope. Hope that people will realize this is a scam. Realize that you can't make that much money every month, constantly, consistently without ever incurring a single loss. I have encouraged people to learn about forex, technical analysis, how to use your own ( or otherwise available ) automated trading tools with Metatrader... But none are interested. So maybe as the word begins to spread, people will begin thinking and if they are not thinking, act by fear and pull their money out before it's too late.

Voice of LOGIC u call urself ! and ur logic has overseen that they never incurred a single loss ! and ur offering ppl free education about FX and how to input tools into metatrader and all !!
So since this is an open forum and everyone is free to say whatever they want , i find hard to see any LOGIC what so ever in what ur saying ! the only thing i get a grip on is that your trying along with ur chicken beef friend to spread panic either for fun or for business ! so im an investor and a solo trader and reading all these almost the same identical comments that suddenly went viral on specifically the airline crew groups and sites leads to one serious conclusion ! which is a bunch of crooks trying to pull some cash into their direction eventually to do what sterling did last year and perhaps i might be mistaken and ur working with AKON in providing AFRICA with water and electricity along with CHICKEN and BEEF ofcourse and also providing financial consultation for free for victims of exential !! so in order to find out what is logic maybe u should start explaining what is the Elliott Wave Theory and give us all HOPE in a bright future in the trading world through the voice of LOGIC and no leverage!