4 stars based on
The perpetrator behind this Ponzi scheme, an individual called Sydney Lemos, has been arrested. I was informed that a class action lawsuit against Exential is being prepared by the Giambrone law firm. All people interested should visit this page. More than a year since this article was written, authorities have finally shut down the fraudulent operations of Exential Group. Our managed forex accounts forex play accounts dubai short-term trends following methodologies to deliver exceptional profitability.
This company ticks off all the boxes of a classic managed accounts scam:. This was the usual answer too when victims of Bernie Madoff were warned before his Ponzi scheme collapsed. Watch The Wolf of Wall Street movie if you need a reminder of that.
Thoroughly check the facts before parting with your hard earned cash. Financial advisers aired concerns in an article in The National in January following a growing demand for investments in foreign exchange funds they said were offering profits that were too good to be true.
That is proving to be the case, with investors claiming that they are owed thousands and that have forex play accounts dubai been paid since November. Bogus traders lured investors with the promise of per cent returns on foreign exchange markets, but are suspected of simply redistributing funds from new investors — a Ponzi scheme.
We had a relationship manager who said a problem with international banking was causing delays. Investors could not view live trading forex play accounts dubai, but were given retrospective access to trading performance.
Money was good and trades and profits were conservative until December and January. They said the delay would either be the holidays either here in UAE and where their bank is in Australia, or because of banking limitations.
Financial advisers said that the scams have been widespread for years in Dubai and that investors forex play accounts dubai losing everything should the funding for the schemes collapse.
One company advertising services as a foreign currency trader does supply documents to interested investors and a Department of Economic Development licence is clearly displayed on its literature. This allows it to trade in investment in commercial enterprises and management, but the forex play accounts dubai has no licence to perform as a trader.
The UAE bans anyone from opening companies without a licence, but rogue operators continue to break the law, according to Yousef Al Bahar, a lawyer from Al Bahar and Associates who said investors were targeted on social media.
Dubai Police said that such complaints should be addressed to the anti-economic crimes department onor email: Tried calling the number unfortunately it is not in service. I guess directly calling the police or going to the police for filing a case would do a better job.
Hey, Tried the number but it is not working, Try this email I just did and the email was sent, had failed two times. Also sent a complaint to cdi. The longer you wait the less chance of retaining your capital. A small percentage profit — the majority lose out. Do not be the next victim…. For those trying to send emails to the a Anti-economic crimes department there has been a misprint. Was wondering why it had failed two times was just forex play accounts dubai to call the national. I also sent a complaint and did not receive a returned message perhaps your email is too big in size?
Try to keep it within 5MB. It looks like mine went through. These guys change terms of contracts like a game! Yesterday days, today -6 months, tomorrow you will wake up to your money gone forever. You just get more of bulshit!!! You guys are your own worst enemy! You think if you file a case they are just going to hand over a briefcase full of cash.
Is this what you are trying to achieve? Our money is safe and the patient ones will soon reap the rewards of our patience! Accounts frozen, trading not really happening except for the dummy accountnobody getting paid, going bankrupt because withdrawals are now greater than deposits and people will likely kose money because this is probably a ponzi scheme. Inevstors are just simply asking the return of capital or profit.
EG has not experienced any lost in its entire operation which simply means they have the money intact. So why they are still waiting to be sued? Just give back the capital or distribute the profit and that would be it. Everybody to their own! People hve different reasons to request their own money to be returned within stipulated terms!
Failure to do so means something very fishy. Therefore some investors fear might be justified! You contradict yourself buddy. You believe they are legit, and yet you fear that their account might be frozen during investigation and that they may have tough time to remain above water? I believe that you also smell something, you just dont know that its a fish smell Get out of the denial stage and just look forex play accounts dubai the logic. If they are legit, they wouldnt have problems in defending themselves, thus, their account forex play accounts dubai not be frozen for long.
Oh, actually, if they are legit, they would not have problems in fulfilling their contractual obligations in the first place. And this is why such companies must make sure the terms of contracts are kept! Such enforced re-investments of capital are just the last drop in the cup. Forex play accounts dubai has ever been bold to stand out and show some real evidence that this whole will work.
Empty promises and nothing else. I seriously do not believe why people like super Human would believe that EG is paying out. We heard the bank issue was resolved in Feb but they gave another excuse that the reason why they are not paying the monthly profit was because they were paying people forex play accounts dubai had closed the account. They gave a timeline from March 15 to start paying,But wait a Minute! All banks have recently tightened their rules regarding money transfers incoming and outgoing from any account.
What does it mean? If you do not provide them the information they need they will forex play accounts dubai your account till the investigation will be over. It is forex play accounts dubai the money forex play accounts dubai rule that we all tick before making a money transfer.
If all of you panic and start asking for money back do you think is forex play accounts dubai to work? If they got their accounts already frozen due to the above reason do you think that asking more money is going to help?
It will work if they are really trading currencies because they have the money somewhere. It may be delayed, but eventually they will pay up. Okay, question- why would a company of such reputation and good practices allow their accounts to be frozen?! Hehehe leave the answer to yourself. Back to the good reputation and practice??? I received my Capital last December for 1 month processing only…. Sitting forex play accounts dubai laughing, as to how forex play accounts dubai whole thread developed and some people STILL believe they will see money?!
Doubt this guy even exists. Time to cut your losses and say goodbye to your hard earned money…. Bubbleskeep on thinking that! Im laughing just as hard as people like you that are trying to discredit this company and il be enjoying my profit even more next month knowing people like you wont.
This is my first comment on this site for Exential — and for me this is completely scam — and people who are fighting for there hard money just for you guys- you should all file criminal case against them bez.
Being a llc in Dubai you cannot take money from clients 2. People who give cheque by the name of FCI brokers they can file case aganist them.
Publish your stories in local news paper like Gulfnews and seek there help. Its funny when the company starts to fix the delay that negative ppl come and start pouring fuel again. The problems have been sorted and we will be getting our profits soon enough! If it a scam no one should enjoy our hard earned money. For the sake of all those who lost their life savings and to stop any future scams, all should consider legal advice and take it further with authorities.
But before that you all should get good translator and translate all your documents into Arabic as police and courts will ask for translated docs. Nobody has lost their life savings or in fact any money! There has only been a few months delay of profit payouts while the company has restructured! Just because there is a delay does not make an investment a scam, so why are throwing the word around if you dont have solid proof.
Good luck file and enjoy filing your forex play accounts dubai case with the courts and I look forward to hearing in 9 months time how you got your capital back but spent most of it on legal fess! In the meantime, from April onwards, the rest of us will be earning handsome profits. So we have 1 review from a disgruntled ex employee who got fired, how surprising he has an axe to grind by writing a bad review!
Give me a break. All the best and I really wish u see April profits. Only did it after many ignored calls and when visiting their office to see my RM I was sent up and down between floors O and 7 to be only told that 20 days is to be extended to 6 months and have to sign their notice contract. Really wish if you can visit their offices to see what I mean.
By the way, if you fancy visiting management team they are located on ground floor away from upset investors. Please do let us know if you get any profits in April.