FCA are looking for 20 members that have invested and haven’t been in touch to recover their funds.
My friend Sara has sent me this, and is one of the members who invested a large amount of money into this project.
So brief history on Michael Nascimento and the “Sir Nick Faldo Golf Course” Hotel in Ponta Do Pargo.
Made 2 investments in 2011.
£10,000.00 in buying a room in a 5 star hotel (similar to timeshare) but more flexible.
£965.00 in 5 shares in Pearl Island and Acropolis
FCA picked up this is all fraud and Mr Nascimento was sentenced to prison for 13 years.
FCA are looking for 20 members that have invested and haven’t been in touch to recover their funds. (please see attached) Press release. Link below
So all in all what a mess up! Lost a lot of money but getting back £795.00.
Absolutely disgraceful that something like this could happen in a tiny village on one of the most beautiful islands in the world.
I hope Michael Nasicment rots in prison.
You can read the FCA press release here. https://www.madeiraislandnews.com/wp-content/uploads/2021/07/OP-Tidworth-confiscation-press-release.pdf
You can read the full story about this here.
https://www.madeiraislandnews.com/2018/09/property-scam-ringleader-jailed-for-13-years.html
It will be great to find any of the other investors, and maybe hopefully you will get a little money back, but nowhere near what you have lost by the looks of it.
If you want me to put you in touch with Sara, please email me at madeiraislandnews@gmail.com