Doug,

The last exploratory effort was in Oct 2005. They used the one of a kind NATGEO manned submersible. They claimed the site was real but technical difficulties with the lighting and cameras precluded photos. Since then they have fallen off the planet. The most obvious conclusion is that it was all a scam. Yet they did have access to the submersible and surface pictures do show the submersible being prepped to be lowered into the water. The lady was prominently displayed as being in the submersible.