Ponzi Scheme TadawulME / Exential Group:

[totalpips]

Guys,

Has anyone recently i.e. within the last month managed to have capital returned? And how did they facilitate this. My colleagues are now two months overdue for their capital and profit return. So I can give them solid advice on how people have managed to force EG to returne the capital, how did people approach this. I used the DMC freezone authority threat in Sept last year and that did the trick, however I think this is cascading too fast and EG seem not to be responding to anything these days.

 

[Miky123]

Really? that's not what my investigation revealed - my assumptions (again, just assumptions) - the number you've given is probably set up by EG! I only called that number out of curiosity....we live in a digital world so it is super easy to investigate anything and everything! What you should do from the start is to have reported it to the Police/Dubai Courts, which is what everyone else will be doing - simple as that!

Hi the number is for the Media city Authority compliance department.EG falls under them but now I checked and cannot find the page.so I guess the way to go is through Dubai courts.

 

[investorone]

Guys,

Has anyone recently i.e. within the last month managed to have capital returned? And how did they facilitate this. My colleagues are now two months overdue for their capital and profit return. So I can give them solid advice on how people have managed to force EG to returne the capital, how did people approach this. I used the DMC freezone authority threat in Sept last year and that did the trick, however I think this is cascading too fast and EG seem not to be responding to anything these days.

If you're a client and you close your account then they will send you a legal notice in respect on the manner on how your capital will be returned. Then it's up to the Client to decide on whether to agree with it or not. If you don't agree then the only legal option you have is to file a case for breach of contract against the Company.

 

[Pharaoh]

One point. Just because something is in a contract does not automatically make it legal or permissible.

For example: Exential includes the right to amend the contract at any time without consulting clients. If they amended the contract and required all clients to deposit an extra $100,000 within 1 week or else pay a $500,000 penalty, that would never stand up in court. Unfortunately, some clients would probably go along with it if the amendment included promises of bigger profits down the road.

Report them now. The faster you do, the less chance they can make all the rest of the existing money disappear.

 

[fandf39]

One point. Just because something is in a contract does not automatically make it legal or permissible.

For example: Exential includes the right to amend the contract at any time without consulting clients. If they amended the contract and required all clients to deposit an extra $100,000 within 1 week or else pay a $500,000 penalty, that would never stand up in court. Unfortunately, some clients would probably go along with it if the amendment included promises of bigger profits down the road.

Report them now. The faster you do, the less chance they can make all the rest of the existing money disappear.

They amend after you terminate your contract. This will not aplicable to you.

You are still on contract with them. They amend it. It will affect you.

This is very logical and it works with any contract.

 

[Pharaoh]

Amendments made after termination should not affect you. This much of your statement is correct.

If before termination, they amended the contract requiring an extra $100k within a week with a $500k penalty would be an unenforceable and likely illegal change. There's a reason why contracts usually have a provision stating that it one part of a contract is found to be unenforceable, null, etc., the rest of the contract remains in force.

If you still believe that they can amend it and all amendments are enforceable, what do you think would happen if they changed the contract to demand that clients deposit $1 million (with considerable penalties for non-compliance) and would be paid 0.001% per year from now on?

 

[fandf39]

I terminated the contract already. Have no idea what they want to amend.
And i suggest everyone to terminate it sooner before any amendments they will do

 

[Superhuman82]

Enjoy waiting 6 months for your capital, while I enjoy my profit!

 

[mybums]

We took our money out early last year. We are sad we participated in this Ponzi Scheme. We only put it in for 2 months and removed it when we found out it was Ponzi.

We were deeply connected with thousands of people that did invest with Exential. Namely, The Emirates Cabin Crews. They fueled this Exential Debacle.

I know some of my personal friends even spoke to Sydney Lemos, the face and owner of Exential.

If you guys need to go after the mastermind, that's him. Look at his facebook profile, he has a red Ferrari (now u know where all your money went). All this, from the money from "the last wave" of investors.

Don't you find it funny how all the problems started with the announcement of sponsorship of FC GOA by Sydney Lemos in Oct – at least we know where the stolen money went. Did you all know that Sydney is the owner of both Exential/Tadawul and FC Markets Australia?

I could care less for those who knew it was Ponzi and still invested it due to greed. But my hearts goes out to all the hard-working naive people that invested because their friends and colleagues did. Esp the Hard-working Naive Emirates Cabin Crew people that were the last wave of investors.

 

[Flyingstar]

I terminated the contract already. Have no idea what they want to amend.
And i suggest everyone to terminate it sooner before any amendments they will do

Hi fandf35. I have terminated my contracts and after 20 day period they refused to return the capital or any profit. They have tried to pressure me on signing a notice which is basically an extention of the 20 days to 6 months. Have u had any luck in getting your money? What you plan next? Any advice you can give would be appreciated.