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I agree that we should go through the FCA. I have been told we can leave our contact details (with the named person on the correspondence) and be put in touch with eachother; that's what I am going to do. They know who is genuine and who is not. We should do it that way rather than share our thoughts on here with everyone as to what we are going to do. (As you say the other alternative is to instruct a solicitor and they will contact all other investors about this. However it is hard to find a competent reliable solicitor and this may need to be discussed, if we actually want to bring a case, as there are issues I do not want to discuss here).

This is just with regard to the Pearl Island land which has been the subject of a scam and the FCA have become involved.

My understanding is that the purchase of the hotel/Ponto do Pargo/Morgan Forbes site was never actually completed by Nascimento, which was why he was trying to get investors to put even more money in after he apparently got the planning permission for that site, but I stand to be corrected. In which case it could still be claimed to be a genuine project just needing more funding.

When I spoke to the person from the FCA who signed the letter all he told me was that if an investor took proceedings regarding the Pearl Island scam and their solicitor contacted them they would contact all other shareholders to see if they would be interested in joining the group effort.I will speak to him next week to see if he will give my details to other investors or for them to contact me.

I agree that we should just concentrate on the Pearl Island scam but will do personal proceedings just for myself regarding the hotel contract if my solicitor gives the go ahead.

Investors are not allowed to discuss the contents of the letter from the FCA but I am sure that we know the way that he scammed us regarding Pearl Island and although he cannot do the same with Morgan Forbes hotel at the present time it would not surprise me if he tried to scam investers in the same way as he did with Pearl Island in the future.

My problem is that I only invested in the Hotel project so cannot join a group effort for Pearl Island.  I know you have invested in both but has anyone else just invested in the Hotel project?
Investor 2 I wonder if you could give me the name of the person you spoke to from the FCA.

My problem is that I only invested in the Hotel project so cannot join a group effort for Pearl Island.  I know you have invested in both but has anyone else just invested in the Hotel project?
Investor 2 I wonder if you could give me the name of the person you spoke to from the FCA.

The Hotel project is not genuine.  The last update was in April and the only positive comment was that the Island was getting more and more popular with older people!  A September update was promised but never materialised and e mails have gone unanswered about an update although delivered so the email address is still active..  I think that says it all.  Has anyone else invested solely in this project?  I have reported it to the FCA but they say that they do not reply to individuals on scam reports. I strongly object to someone blatantly pocketing my money and will do all I can to bring this revolting creature to justice.

How can we drop you a line if we do not know how to contact you? am I missing something here?

The hotel build by Morgan Forbes was a scam from the very start,the advert in the Daily Mail of March 2011 advertised fractional shares £18,000,i spoke with a Mr.Aston that morning he said the share price has just gone up sure enough I checked the website and the price was £18,765,  HELLO, ALARM BELLS,he was in fact speaking from M.F. canary wharf office,they then moved from office to office,and changed the company name time after time,you will need good lawyers to convict these people.

Your posting does not make sense,how can you be sent a letter if it is not known where you are.

I have emailed the FCA person re exchanging contact details.

The hotel puzzles me a bit because apparently he got the build licence so you would have thought the land was worth purchasing and then selling at the right moment

It was never established as to whether Morgan Forbes owned the land, or was it mortgaged.

The hotel and pearl Island land is genuine and and is registered with the Maderian land registry that has been confirmed in a call to the FCA last year.Up to there both projects were genuine investments.

The problem was that the golf course was stopped making the investments not as much as it would have been,but do not know how much.Then Nascimento went back to his old ways and scammed investors by saying he had sold the Pearl Island project which was a lie,he still owned it and set up other companies to sell the land again after it was already sold and got caught by the FCA and the criminal investigation that is happening now.

The hotel is still Morgan Forbes and Nascimento is the director of the company so at the moment everything is legal and above board as one thing you learn about him is that when he scams people he pays people to be a named director and open bank accounts but he runs the companies.He cannot do anything with the hotel land at the moment but think that in the future he may well say he has sold the hotel project but still really own it and scam investors the same was as he did with pearl island.

The people to speak to at the FCA are Michael Brown or John Edwards but if you speak to them about the hotel in theory Nascimento has done nothing wrong YET.I am concerned the promised update in September for the hotel has not been given so thats a bit of a warning that all is not well but perhaps as the FCA are looking into all his activities thats why we have not received it.

Michael Nascimento and Hugh Herschalls latest scams are Hermay Ltd and selling counterfeit Louis Vuitton bags from Egypt that the FCA are aware of.

Nascimento's plan in January 2013 was to do the same scam with the hotel land as he did with Pearl Island but people rumbled that scam so quickly he dropped the idea. The scams make quick and easy money but they are frauds. I'm not sure why he can't make good money legitimately with that land eventually.

Morgan Forbes Limited,is a dissolved company and was wound up a long time ago any investors in the Madiera projects have lost any investments they made,therefore your posting is not correct.

Would it be a possibility for those of us who live in or near London to meet up to discuss possible courses of action and exchange experiences ? It would be easy to prove our identities by bringing our documents and photos to show we are who we say we are.  Is anyone up for that?

I can see that you are not an investor in the hotel or pearl island projects as you clearly dont have a clue as most of your posts are factually wrong.For example yes Morgan Forbes Limited was wound up after all assets were transfered to Morgan Forbes Madeira at the suggestion of the FCA and is still active.In fraud cases it does not need to be a company OR the individual that can be sued.

Sorry I meant to say that in fraud cases it can be the company or the individual that can be sued.

I have  received  a  letter  from  the  FCA  regarding  my  investment  I  am  willing  to  share  contact  details  if  anybody  is  interested  to  discuss this .I have already  spoken  to  someone  on  Facebook who is  in  the  same  boat.

hello  yes  that  is  a  good  idea.

Great. Name a few dates, times and a place and I will try to fit in. Anyone else??

The funds were transferred as you say but M.F.became Acropolis and so on,the FCA put the heat on M.F.(uk)as they were not regulated in the uk,then Acropolis became Amber Crest and so on,it would not be clear who to sue.