Bernie Maddoff collapsed during the GFC because a lot of people requested their funds at the same time. So, it was a sudden and unexpected run by customers to withdraw. He collapsed because no new investors coming up from the bottom of pyramid to pay for withdrawals.
Exential started having problems at one of their boom times. Even the article in Express said they were signing up a lot of new clients when problems started. The Ponzi was healthy so why problems?
They said banking restrictions, people lost trust which led to people asking for their capital back. Exential took steps to solve issue. However, the Australian banks were worried about sending money to certain countries and foreign brokers in UAE have transfer limitations.
It was around this time, the writing was on the wall and he should have cashed in his chips and disappeared.
At this stage, they had a forum with a representative from S and S brockerage.
Now his actions from this stage till now makes him one of two things -the most stupid criminal of all time or a business man trying save his business.
Please explain how staying to face the issues is Greedy. He stopped accepting new clients. He is now giving his trade signals away for free. To be fair, I would have been greedy and absconded.
Again, I'm just presenting questions, I am not a on any side. I am willing to accept them being a Ponzi. I accept that I was motivated by greed and have learnt a lesson by that. However, let's face it, nobody knows if what will happen. It's still 50/50. There is no smoking gun proof that it is a Ponzi. And nobody so far can give factual, rationale, non-opinion based answers to my questions.
Its UAE logic. When a cheque bounces you could go to jail.
"Please Mr Policeman, there's been a mistake, if u release me I can pay today"
But no, you will stay in jail until u pay. Bit hard to pay from jail.
Bit hard to pay clients and operate business when it's been closed. We would probably be getting paid by now if people didn't complain.
Exential started having problems at one of their boom times. Even the article in Express said they were signing up a lot of new clients when problems started. The Ponzi was healthy so why problems?
They said banking restrictions, people lost trust which led to people asking for their capital back. Exential took steps to solve issue. However, the Australian banks were worried about sending money to certain countries and foreign brokers in UAE have transfer limitations.
It was around this time, the writing was on the wall and he should have cashed in his chips and disappeared.
At this stage, they had a forum with a representative from S and S brockerage.
Now his actions from this stage till now makes him one of two things -the most stupid criminal of all time or a business man trying save his business.
Please explain how staying to face the issues is Greedy. He stopped accepting new clients. He is now giving his trade signals away for free. To be fair, I would have been greedy and absconded.
Again, I'm just presenting questions, I am not a on any side. I am willing to accept them being a Ponzi. I accept that I was motivated by greed and have learnt a lesson by that. However, let's face it, nobody knows if what will happen. It's still 50/50. There is no smoking gun proof that it is a Ponzi. And nobody so far can give factual, rationale, non-opinion based answers to my questions.
Its UAE logic. When a cheque bounces you could go to jail.
"Please Mr Policeman, there's been a mistake, if u release me I can pay today"
But no, you will stay in jail until u pay. Bit hard to pay from jail.
Bit hard to pay clients and operate business when it's been closed. We would probably be getting paid by now if people didn't complain.