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Why is the U.K goverment not doing a thing to stop this ?

I agree with you one con after another.

I hear that Michael Nascimento has recently moved from 527 Hurst Road, Bexley DA5 3JS does anyone know his new address.

He hasn't moved as it hasn't sold.

http://m.zoopla.co.uk/property/527-hurst-road/bexley/da5-3js/6077740

He may not have sold his house in Hurst Road,Bexley it may still be for sale,it may not be for sale,he may be staying there sometimes,renting it out or left empty.

When I drove past it everything looks the same as if he was still living there with the blinds closed etc.

A reliable source told me that he has moved to a larger house and the FCA are aware that his address has changed recently.

Just want to know the new address.

What was the outcome of the hotel and villa's that were going to be built in madeira,morgan forbes and all the other companies failed and were shut down,

I also would like to know what is being done about investor's money.  I have had no communication from the company despite trying to contact them. Is anybody there that also invested in the Ponta do Pargo Hotel Project and what steps have you taken to get your money back? I have contacted the FCA but they say that they do not reply to individual reports.

Any one lost money in this pearl projects needs to take action by court and get legal advise from solicitors that deal with these matters best way to do this is all investors to get together and take legal action and split fees between them and by court take possession of the land and other assets  sell them and get there money back thanks

As the companies involved were limited companies legal action cannot be taken,as the companies were dissolved,however as no villa's or hotel were built investors funds should be returned.failure to return funds can be taken against individuals if fraud can be of proof.

Is there anyone out there who has been conned into the Ponta da Pargo Project who will join up to take legal action, as suggested?

Yes there's plenty of people I'm sure as the lands been sold on to another investor so all the investors who invested in the land can and should take legal action

Next questions.  How are these people contactable and  who has the land been sold onto? it seems to make sense to take action as a group but it is all very quiet out there.  I do not mind admitting that I have been an idiot!

I remind people, investors were not investing in the land,they were investing to buy shares in the hotel build,a share being 1/13th of a hotel room = 28 days this was called fractional ownership.It stated in the share contract that Morgan Forbes at that time had no planning permission to build the hotel,under that circumstance they should not have been asking people to invest only should they have asked for investment after consent had been granted,did anyone receive share certificates I doubt it as all companies concerned had no permission to sell shares in the uk.

Hello their  , I  am  a  investor  with MF and  Pearl  Island.I recently  have  had  some correspondence  from  the FCA regarding  this  who  suggest  I  should  try  and  take  legal  action and  get  as  many  MF share  holders  as  possible to  do  this .If  any one  is  interested  drop  me  a  line  and I ll give  you  my  email  address.

Hello Andrew.  
 re  MF and Pearl  Island have  been  in  touch  with the FCA who  suggest  taking  legal  action ,just  wondered what  you  thought and  if  could  get  a  few  ripped  off  investors to  join  me  in  this  criminal action  that  the  FCA recommend
Paul

As I invested in the Hotel and Pearl Island initially in the UK where Morgan Forbes were illegally selling both developments without permission to do this by the FCA and were told to more the companies to Madeira I am in the process of getting my solicitor to look over the hotel contract as in theory if the hotel was not build by 2013 investors are entitled to their money back plus 10% per annum and also I have the witnesses and can prove that Michael Nascimento scammed investors in Pearl Island.

So I am thinking of suing him personally for the return of my investment plus interest in a UK court and believe I can win the case but the only issue I have if that happens is getting the money from him as he has hidden his UK assets but I am aware he has several offshore bank accounts so perhaps the judge will say pay him or go to jail.

I dont want to say too much about the FCA case but I have been interviewed twice to give evidence and recieved two letters from them.They did say that if an investor took proceedings against him and got their solicitor to contact the FCA they would write to their list off all investors informing them of this fact so in reality it could become a group effort.

I will be in a position in a few weeks to decide what I am going to do.

Although I do agree that it would be better to have all investors to take proceedings together there are many problems this will bring as some investors have probably given up on their investment and not prepared to invest more money,others are business investments that they have written off so that may only leave half the investors at best.

Then there is the problem with investors living all over the country,each invested different amounts of money and deciding what percent of the cost everyone pays.But then again the more investors that are involved the judge will see the case in the bigger picture and the case could be more successful if the judge see that more people have had had hardship in their lives with this scam.If I did it myself it will involve less money so maybe I will have a better chance of getting my money so Its a difficult one to call.

Its a shame we cannot talk freely and give contact details on this forum as I know Michael reads it,there are several investors who say they have invested but from what they say I know they have not,everyone gives false names and you cannot trust anyone.

I see the problem about getting all the investors together.  Perhaps we could set up a Facebook group and really vet who joins to see if they are genuine and then Michael cannot see what we are doing.  I am not incredibly computer literate but I can show that I am a genuine FB contributor as I have been on it for 3 years.Can someone form a group and then we can at least exchange views and e mails and phone numbers. Any comments?

Please look at my post concerning a possible facebook group to ascertain who is genuine on this site.

I think the only way that we can get a group of investors together is to go through the FCA as they have a list of all investors,the FCA will send each of them details of the solicitor taking the action so we know only genuine investors become involved.

As Michael Nascimento,his right hand man Hugh Herschell and I guess some of the brokers still working for him will have the names,addresses,contact details and the actual investment in both projects of each investor if we set up anything like the Facebook page they could join pretending to be a particular investor without our knowledge.

If we can form a group of investors the secret of success is to have a well laid our strategy,plenty of evidence,then enemy not knowing anything about our plans and the element of surprise when it goes to court and a good solicitor can keep things on track.