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Feb 20, 2012

Merlene Bailey Martinez resigned or terminated?

Merlene Bailey Martinez

Last week, we reported that the Social Security Board decided to terminate Merlene Bailey Martinez as C.E.O. for insider trading at the S.S.B.  We also reported that chairman Lois Young is opposed to the termination. Young is out of the country for health reasons so the acting chair is Dennis Jones. The board’s decision was taken following an audit by Panell Kerr Foster which investigated and interviewed staff and found that the C.E.O. did not have the best interest of the S.S.B. when she encouraged some staff members to participate in a mortgage write-off program offered by the government. While the board decided to terminate Bailey, it gave her an option to resign before another board meeting today. The Board also decided that if she did not resign, it would then move to terminate her forthwith.  But Bailey was chauffeured to work this morning as if it was business as usual. Up to late this evening, the Board was still in meetings and we have been unable to confirm if Bailey has resigned. The board is comprised of the government representatives, the private sector and the unions. The decision to terminate Bailey Martinez was discussed at length with most board members voting in favor last Monday.

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8 Responses for “Merlene Bailey Martinez resigned or terminated?”

  1. Be Real says:

    LOL Belize media. That’s all I can say. The lady is no longer the CEO of SSB. Lois Young told Jules that her vote would not make a difference regarding Bailey’s future. That means she would have voted for termination, or she would have abstained. I guess you guys are wronjg when you say Lois would have voted for Bailey to stay. GOTCHA Belize media!

  2. Rod says:

    She is a crook terminate her immediately or I want all my money back I’ll put it somewhere else every tax payer should demand their money from ssb and invest it yourself we cannot test bald head and this corrupt gov. You can’t trust them with anything demand your money and invest it yourself.

  3. ABC says:

    Guys, if a person is terminated for reasons like this, they forfeit all their rights and benefits. If she is given the chance to resign, she gets all benefits and its doesn’t look bad on her file, so they can give her another post if and when they get in :)

  4. Storm says:

    Prosecute her and all of the other crooks working inside the GOB.

  5. Lynn young says:

    I think that you are all wrong about Merlene. She is a consummate civil servant and I believe that she would not have done anything without clearing it with the highest authorities. She is probably keeping her mouth shut to protect those in authority. Her only mistake is not to have gotten it in writing, or to have recorded whatever conversations she had. If the government buys loans from SSB and decides to write them off, it is the Government and only the Government that can decide which loans will be written off. The Government did not specify that employees of SSB are not eligible. How many other well connected persons knew about the pending write off before it was publicly announced and paid down their loans? At any rate, the write off is coming from taxpayers not from SSB funds. SSB employees are taxpayers and have as much right as any other taxpayer to benefit from the write off if they meet the criteria. The whole program was poorly planned and unfair. That is the real problem. I have personally experienced the duplicity of this Government and appointed Chair at BEL. I choose to speak out and walk away. But not everyone is brave enough to risk the ire of the politicos.

  6. CEO says:

    These are the reasons poor Belizeans are suffering. Everyone at every level who should be looking after the best interest of those who can least afford to live turn around and mess them over.

    It has not only to do with the current government the problem is systemic and the ignorant excuse is always “they did it too” Will this ever stop?

  7. Jan says:

    I agree with ABC its not fair. And again why would they make her resigned if the whole coountry knows about the scandal. Ok we always forget no true !!!

  8. Be Real says:

    @ Lynn Young

    It is called breach of fiduciary duty. A board member/director of a company is not allowed to make secret profit from their position. nor are they allowed to have a conflict between their duty to the company and personal interest.

    You should know that bcos I am sure your previous employers used to make it clear that you could not make secret profits/gains from your directorship.

  9. soulsista says:

    If this was someone else they would have fired her a long time ago but you got the opportunity to resign wow imagine if it was some poor belizean they would have sent them packing a long time ago Merlene Bailey integrity and hiding behind Christianity God no sleep

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