Ponzi Scheme TadawulME / Exential Group:
- Thread starter samsam9000
- Start date
Guaranteed profits become guaranteed losses.
Flyingstar
Private, 1st Class
- Messages
- 27
Thank Iman for the link. I have used Shoor service to get free legal advice. But as with all free services there is a catch. The lawyer gave me 30 advice on what to do but then explained how they would manage my case and tried hard to sell their services to me. Most likely will be a civil case 2 lawyers mentioned same thing. For those of you who are in Dubai now. Have you tried to visit Dubai courts and get a list of all cases against exential group? Also they do publish final court rulings and would be good for someone to check if someone was able sue them and if was under criminal or civil case?
NOTICE
ACCOUNT HOLDER NAME:
PASSPORT NUMBER
DATED:
Dear Sir/ Madam, This is with reference to your request for closure of your account, with Tadawul ME Managed Accounts Program. As explained earlier the new terms of payments. due to the limited availability of transfer channels, there could be a delay in paying your Capital Investment/s. To safeguard the interests of our Clients Tadawul ME Managed Accounts Program has made provisions of your Investment Agreement in accordance with clause contained in the agreement which reads as follows, "
Notices - Tadawul ME Managed Accounts Program holds the right to amend this contract at the discretion of the Company at any given time considering the interest of both parties." TadawulME Managed Accounts program believes in honoring their commitments to their clients. You are hereby informed that the payments have been postponed and the said payments will be processed on or within 6 months from the day this notice is dated. All provisions contained shall be legally binding and shall read along with the original Investment Agreement including the termination clause. TadawulME Managed Accounts reserves the right to seek external legal assistance to protect the rights of both parties in light of the conditions prevailing at that instance. You have been one of our most valued client and we presume you will remain the same and support TadawulME Managed Accounts program in the future.
Thanking you
Authorized Signatory
This content of this communication is intended solely for the use of the individual or entity to whom It is addressed and any others who are specifically authorized to receive it. It may contain confidential or legally privileged information. If you are not the intended recipient you are hereby notified that any disclosure, copying, distribution Or otherwise placing reliance on the contents of this Information is prohibited and may be unlawful in certain legal jurisdictions.
ACCOUNT HOLDER NAME:
PASSPORT NUMBER
DATED:
Dear Sir/ Madam, This is with reference to your request for closure of your account, with Tadawul ME Managed Accounts Program. As explained earlier the new terms of payments. due to the limited availability of transfer channels, there could be a delay in paying your Capital Investment/s. To safeguard the interests of our Clients Tadawul ME Managed Accounts Program has made provisions of your Investment Agreement in accordance with clause contained in the agreement which reads as follows, "
Notices - Tadawul ME Managed Accounts Program holds the right to amend this contract at the discretion of the Company at any given time considering the interest of both parties." TadawulME Managed Accounts program believes in honoring their commitments to their clients. You are hereby informed that the payments have been postponed and the said payments will be processed on or within 6 months from the day this notice is dated. All provisions contained shall be legally binding and shall read along with the original Investment Agreement including the termination clause. TadawulME Managed Accounts reserves the right to seek external legal assistance to protect the rights of both parties in light of the conditions prevailing at that instance. You have been one of our most valued client and we presume you will remain the same and support TadawulME Managed Accounts program in the future.
Thanking you
Authorized Signatory
This content of this communication is intended solely for the use of the individual or entity to whom It is addressed and any others who are specifically authorized to receive it. It may contain confidential or legally privileged information. If you are not the intended recipient you are hereby notified that any disclosure, copying, distribution Or otherwise placing reliance on the contents of this Information is prohibited and may be unlawful in certain legal jurisdictions.
SilentSpectator
Sergeant
- Messages
- 141
It is very disturbing that they will process March/April profit payments for those who remain in the scheme while keeping backlog capital withdrawals on hold.
People who would choose to stay on despite seeing this injustice obviously have malicious intentions.
SilentSpectator
Sergeant
- Messages
- 141
Yup, I saw it. If they aren't currently on the rocks, I would consider joining their communications team; They need all the help in that aspect.
But seriously, this is pure bs. Obviously a delaying tactic until the issue dies down and the number of new sign-ups will once again be more than the withdrawals.
Main cause for alarm will be when those involved start receiving monthly payouts while those who have filed for withdrawal have their money stuck for 6+ months.
Questions to EG:
1) If you changed the Terms and Conditions now, what will stop you to change them again in 6 months?
2) I signed my cancellation a couple of months ago, but by signing this i'm back to 0 in the countdown. Why?
3) Why can't i take this paper without signing it and seek legal advice? (the last paragraph is another joke).
Exactly.
Don't you have this paper? One of my friend got it without singning.
I think the only way is to shoot them down
At least some satisfaction
yes I agreed, we have closed our account last January and after 20 days of not hearing from them, our RM informed us that another 20days more delays. unfortunately until now we are still fighting for our money back but with no luck! They are full of lies and excuses. our RM is trying to encourage us to reopen our account so we could get a profit monthly which I think a truly ridiculous offer. we turned down his offer and wanted our money back and informed us that we have to wait 6 months from April which up to now we are fighting for this stupid policies. this is not what it stated in the contract so hopefully they will pay all the closure soon.
Flyingstar
Private, 1st Class
- Messages
- 27
Hi guys.
I have seen that notice and my RM tried hard to convince me to sign it but I refused. It's not legal binding until you sign it and you agree the original contract is to be amended. So unless you are happy to wait for 6 months then sign it. Once told but didn't verify this that they can only amend their contract once and they can't extend for another period after 6 months. Now what if they decided to leg it within this period? Basically you get nothing back.
That is said. I was approached and I believe few other users of this site by a respectable law firm in Dubai who are willing to do collective cases. Will check them tomorrow and update you all.
I have seen that notice and my RM tried hard to convince me to sign it but I refused. It's not legal binding until you sign it and you agree the original contract is to be amended. So unless you are happy to wait for 6 months then sign it. Once told but didn't verify this that they can only amend their contract once and they can't extend for another period after 6 months. Now what if they decided to leg it within this period? Basically you get nothing back.
That is said. I was approached and I believe few other users of this site by a respectable law firm in Dubai who are willing to do collective cases. Will check them tomorrow and update you all.
