los pandos vineyard

The following is my understanding having pieced several bits of information together, though I cant say definitively that its absolute fact.

Mr Montoro was the lawyer for many of the original purchases but I have no reason to believe he is part of a fraud, or that there is a fraud. However, I have not (yet) proceeded with legal action because the fees were too high and I am conscious of throwing good money after bad.

Several years ago I purchased land, and until very recently was in frequent contact with representatives of M&C. There were originally 400 land investors and about 2 years ago when contracts had expired, about 90% exited. I understand they all received their money back as the company had a call centre business generating extra funds. This, and the fact that this diversification (and the intelligent metamorphosis of the site to attract business clients as well as residential investors after the collapse of other mass-residential projects like Polaris World) impressed me and I remained 'in'. I was regularly kept up to date with planning progress etc.... until very recently.

I was told that recent UK legislative changes to pension fund investment criteria has effectively 'nobbled' sales efforts to obtain additional funds. This has left them with a cashflow issue. I spoke to Mike Clews before Xmas last year and he reassured me he was working on some deals and the matter would be resolved early this year. However, like many other investors have found, he is now not taking calls.

There is clearly a staff exodus and a massive downsizing- which I can understand if the above is true. The person I dealt with was Andy Welland, who has now left (and has taken his contact details off linked-in). Then I dealt with Wendy Baggs but she has also left the company. Then it was Marina who apparently is still with the company but does not answer emails and has no contact number. The only point of contact is Mr Orozco.

I received a general email letter from Eduaro Martin about 4/5 weeks ago that investors would be allocated a handler and updated in about 3 weeks time. That has not happened.

I can understand the challenges faced by the company but can not understand this lack of communication and this is what is worrying me. At best it is unprofessional; at worst indicates the pland are on the rocks. Despite reassurances that my investment is 'safe' because of the capital value of the land, this is very different to turning it into cash.

I am worried and shall keep trying to contact them.

In the meantime, any other constructive information is welcome.