Ciaran Maguire Responds

It's a miracle, Ciaran Maguire eventually, after almost a year of email silence, has sent us an email. Naturally it's one of complaint, but at least it's a communication of some sort. You might want to have a coffee to get you through this lot.

Start of communication:

I wouldn’t normally waste my time on negative sources however I thought I would maybe give you some advice. I understand from someone in my sales office that you and the other minority of narrow minded negative people have again made comments regarding me presenting a video. I have to say that the out takes were simply an extra to the video and simply shows that you shouldn’t always take things too seriously and if it puts a smile on someone’s face in difficult times than that’s a bonus. The videos have received a very positive review from people who matter to me, Palm View clients etc. It has also helped drive people to the actual corporate video and subsequently create more sales.

The fact is, we have full finance and are on schedule to have the first 129 apartments and Hotel ready by end of October this year. I have structured an unrivalled finance package for Palm View clients that ensures they don’t have to put any more money down, We have arranges a 70% mortgage and I am giving them a 30% developer loan, this information along with proof of funds for construction, full land title and planning permission is available to anyone who wants to come out of hiding behind their computers. I have put my hand up and said that mistakes were made along the way but no ones perfect, I have rectified them and ensured my clients investment comes to fruition. Look at my competitors in Cape Verde……….there all gone, Palm View is the only development that construction is on going, everyone else has stopped works, CMG are primed to stand alone in the Cape Verde market, an Irish company creating jobs in Ireland and abroad and you continue with the cheap shots. You should be ashamed of yourself.

I have met with over a hundred and twenty Palm View clients over the last few weeks, they understand the frustrations but are now very happy with the recent progress and we have now closed over €16,000,000 value of sales since the turn of the year.

I have delivered for my clients and despite all the negative issues you people have tried to create, you have failed. Watch this space, your going to start running out of negative things to comment on as we are quite simply building Palm View. Ciaran Maguire Group is one of a very few success stories and your negative attitude clearly epitomize why our great little country is in this situation. This country has a lot of talented and skilled potential entrepreneurs however people like yourself and your negative minded colleagues continue to target any one who dares to be successful instead of giving them a platform.

My advice is simple, you should try being more positive, you have tried and failed to create a negative situation for me, I have no doubt you will try a few more cheap shots “OMG instead of CMG” when really if you had of taken up my request of a sit down meeting, you could have all this information on file and could of indeed been an advocate for the resort. Sadly there are people out there who are negative by nature and will be years behind the positive minded people in terms of getting through difficult times and you just happen to be one of those people.

Please don’t reply, I don’t want any negative crap coming to my email, but do yourself a favor and lighten up and remember the glass is not always half empty!!

They say success has many enemies and I think your and your narrow minded negative thinking friends are testament to this.

Needless to say, don’t expect an invite to the opening of Palm View in October.

Good luck and God Bless.

Regards

Ciarán Maguire

Chairman & President

CastleBaggot House,

Baldonnell,

Dublin 22.

Ph: +353 1 6251542

Ph: +353 1 6251544

web: www.ciaranmaguiregroup.com

www.palmview.ie

So we replied:

Dear Ciaran,

if you are, indeed, going to have Palm View Resort completed by October of this year I would imagine that you have all the infrastructure work at the site completed and that all foundations are now in place. A few pictures of this development would go a long way toward dispelling the naysayers who disparage your development.

Those who doubt you do so simply because you've shown no proof of a track record in the industry, no evidence of financing, your company which took deposits from clients is currently bankrupt and the liquidator has said publicly that you've removed all the clients funds for your own use. You seem more interested in posting weird videos on the web than you do in actually building the development for which you have taken people's life savings.

Positivity is one thing, deranged lunacy is another entirely. In case you've forgotten, you promised to have the development completed by October 2010 as well and to date you've managed to put a few loads of trunking onto a site in God knows where. While you're at it, could you send on pictures of the social housing project you completed in CV last year.

We've bent over backwards to facilitate you in proving that you have any hope of completing this development, or even getting it started, and you've failed miserably at every single turn.

Best regards,

OC.

To add to the miracle, Ciaran again replied:

You have just proved my point. You pick up on one point, the video and embellish it and turn it into a negative. By your latest email it is clear you have not done your homework. If your going to mudsling than at least do your homework. We are well and truly under way with the full shell and core "built" on block A and F. The Palm View clients who have invested their hard earned cash with me have been kept updated and are very happy. I have met with the majority of them in the UK over the last couple of weeks. The pictures of the meetings and the site works are there for all to see.

You keep mentioning track record. The people with track records are gone bust in Cape Verde and indeed this is the case around the globe leaving a vacuum for new companies with new strategies and innovative mind sets which I believe my company fits that mould.

You speak of delays, after all the issues we have had we are only 12 months behind schedule, in development terns in the current market place that is still an achievement.

You should really go and do your Due Diligence, We are well advanced in construction and KPMG have been furnished information that contradicts what they had suggested. They never said it as fact it was a suggestion which has now been disregarded since they reviewed the full case.

"Bent over backwards" that's a laugh, you were negative about me and my project from the moment we launched again mentioning we never heard of this guy before and discrediting my family business.

You may speak with any Palm View client to see how they feel which is more important to me than anyone else. Opinions are the cheapest commodity on earth and you make your living giving yours but if you are going to make opinions, please do your homework.

I trust all is well with you and your colleagues in negative town.

Good Luck and God bless

Regards

Ciarán Maguire

So we felt we should, again, state our case (hang in there, a little more coffee and you'll make it):

Dear Ciaran,

We've scoured your websites for evidence that you own or have built anything in Cape Verde and can find none. There are some interesting pictures of you walking around the abandoned Creola Sands development, but nothing else.

We have never (nor has anyone else as far as I'm aware) seen any proof that you have funding of any description to complete a development you estimate to be worth anything from €100 million to €2.2 billion depending on which of your Press Releases is to be believed.

To our knowledge KPMG has never issued a statement exonerating you from your obligations to your clients on the basis that you had their best interests at heart when you removed funds from Flash Developments. If you have one we'd love to see it.

We've never been negative about your development, we've been realistic - there is a distinct difference. There are certain criteria that need to be met to build a successful resort development including land ownership, planning, funding and a team that has experience in creating and marketing such a development. To date you've not been able to prove that you meet any of these criteria, hence our understandable scepticism.

Building a resort development takes a lot more than simply telling everybody to be positive and posting a few quirky videos on your website.

Some proof is all we've ever asked from you right from the off and we've never received it. It is the least your investors deserve.

For the sake of these investors we very much hope this development will become a reality but your actions to date suggest that it will not.

Best regards,

OC.

End of email tennis session.

This last one seems to have hit a nerve somewhere along the way as the email silence was renewed almost as quickly as it had been broken. It appears young Ciarán thought everybody would fall for the switch of the now abandoned Creola Sands development in the pictures (readily available on his blog here) in which he stuck his flags for a few weeks, and take it as verification of his assertion that he has actually started work on the Palm View Resort. From reports received from those on the ground on Boa Vista it appears that there is currently no activity on the suggested Palm View site (which CMG has yet to prove it actually owns).