The good news is that regardless if fraud or not your credit card is not charged ANY money UNLESS the goal is met (which it won't). And the website itself is completely legitimate, but campaigns may not be (thought that could happen on any donation website) hence why you're refunded if it is fraud. And yes I believe this does fall under 3rd party advertisement.
It is far fetched. And won't happen. Sounds like a get rich quick scheme to me. Using ponies to draw us all in. And as RaritE said, 600,000 is extremely low for a private island.
Build Equestria? I'm sorry, but that's a stupid idea. I would never consider donating even if it were real.
[video=youtube;3ogxzH0Ez-0]http://www.youtube.com/watch?v=3ogxzH0Ez-0[/video] This sums up my views on this topic.
I wouldn't think of donating to this. I mean, a fandom revolved around a well made kids show? Fine. A real island based on the fiction world of a kids show for the fandom? Waaaay too far in my opinion. I'm going to remove the link as it is Third Party gain (it's an unreliable site on top of that) and close the thread.