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Mar 5, 2012

Barrow’s large cash deposit in US Bank

The opposition People’s United Party has been attacking the Prime Minister in ads for depositing cheques of US twenty-five thousand dollars to his account at Wachovia Bank and another for thirty-two thousand with Bank of America. The trust of the ad is that the PM has no confidence in the economy and has been making deposits in US banks. Recently, copies of credit card statements have been circulating showing charges made to the PM’s US held credit card with Wachovia Bank.  The charges go back to September and October of 2009 and amount to a little over seven thousand US dollars for purchases. A perusal of the statement, however, shows other activity. There are time deposits of more than half a million US dollars or over a million Belize dollars held with the US Bank. Now, there is no doubt the PM is a wealthy man, but with the elections so close, the PUP today released another ad on the Wachovia credit card statement.

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35 Responses for “Barrow’s large cash deposit in US Bank”

  1. aldo says:

    I say let’s check how much money all of them have. Dean , Said, Ralph , Gaspar, and so on . Add it up and the party that has the most stole the most, plain and simple.

  2. Seletar says:

    How can we be sure he — or any other wealthy official — didn’t get that way by abusing the public trust?

    Most modern countries require their officials to make financial disclosures every year, so everyone knows what they have and how they got it. The public or the press can check it out from there.

    We need such a law.

    And if a man lies, it should be prison for him.

  3. Rod says:

    I have been telling you all about the large amount of money that bald head has absconded with from the poor people of Belize along with his ministers nothing but total corruption .

  4. Belizean says:

    And so??? What is this to me? I sure am happy he’s a rich man, cuz I dont want no rag tag beggar for a prime minister!!!!!!!!! At least if he got money, there’s a chance for him to help us along, man I dont get it why its alwaaaaays negative!

  5. wise1 says:

    AAAHHH! MR MUSA IS A WISE MAN. FOR HE ONCE SAID, ” MR BARROW DA FU U NAME STINK A ROAD

  6. A UDP SUPPORTER says:

    WHAT A SHAME OF THE GOVERNMENT !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  7. Do it right says:

    So the man deposits into a US bank. What’s the big deal. We all know the man is rich. He is one of the best attorneys in Belize that has never lost a case and is part owner in the most successful law firm in Belize. No bank in Belize is gonna pay the interest that the US bank is paying for those sums of money. In fact most banks are rejecting term deposits in large amounts bc they don’t want to pay the interest on that kind of money. It just a smart move on his part to maximize profit on his money. Some of you should learn some economics and you will see this.

  8. Elgin Martinez says:

    Why is this surprising havn’t you all noticed that the PM spends more time in the US than in Belize?Wake up Belize all this man is doing is using tax dollars for his personal interest.

  9. Barack Obama says:

    Big deal….if you are considered high net-worth and not banking offshore, you are either ill advised or a fool…All smart people will utilize a suitable jurisdiction to maximize their returns on their earnings….

  10. Be Real says:

    i AM A BUSINESS MAN AND I HAVE BEEN IN BUSINESS FOR 12 YEARS AND I HAVE BEEN SUCCESSFUL FOR 8 OUT OF THE 12 YEARS. I TOO HAVE AN ACCOUNT IN US FOR FIXED TERM DEPOSIT. THE REAON IS THAT THE LOCAL BANKS IN BELIZE OFFER A MEASLY LOW INTEREST RATE COMPARED TO US BANKS. AND ME BEING ME I KNOW THAT I HAVE TO FIND A WAY TO SAVE UP ENOUGH MONEY TO PUT MY DAUGHTER THROUGH MEDICAL SCHOOL IN US AND HAVING A FIXED TERM DEPOSIT ACCOUNT IN US IS ONE OF MY OPTIONS. I EARNMUCH MORE INTEREST COMPARED TO MY FIXED TERM DEPOSIT ACCOUNT IN THREE OF THE LARGEST LOCAL BANKS IN BELIZE. ANOTHER THING I DON’T LIKE IS THAT WHEN I TAKE OUT ALOAN LOCALLY I HAVE TO PAY A HIGH INTEREST RATE ON TOP OF THE CAPITAL SUM YET WHEN I DEPOSIT LOCALLY I GET A VERY LOW RATE OF INTEREST. ITS FRUSTRATING SO I LEARNT FROM MY BUSINESS PARTNER THAT IT IS BETTER TO DEPOSIT OUTSIDE BELIZE WHERE THE BANKS OFFER FAVOURABLE TERMS OF INTEREST ONLY THING IS THAT IT IS ONLY PRACTICAL IF YOU HAVE US $ 25,000 OR MORE.

  11. John Doe says:

    Instead of spending money on improving internet access for Belizeans, Dean Barrow siphons money out of Belize. What a shame.

    I was recently in Guatemala, and this country is becoming more advanced than Belize.

    In Guatemala for only US$15 you get full ADSL2+ fast broadband internet. In Guatemala you can download TV shows in 15-30 minutes. Can you in Belize? Of course not.

    The truth is that Belize hasn’t progressed under Dean Barrow and RIGHT NOW is falling behind her Central America peers. Which is very painful to experience.

    If the UDP wins again, I am betting that Belize will be the poorest and less developed country in all of Central America. What a shame.

    For the good of Belize, PLEASE don’t vote UDP. They haven’t brought any progress to Belize.

  12. Lino says:

    It should be fair across the board- have you ever tried applying to central bank for permission to have a US bank account? I personally tried to do the right thing and applied for a little paltry business and now have a letter stating that they have decided I don’t need one based on old bs 70s exchange control regulations that no one else cares about- well they can’t even enforce it so they forced me to be a criminal and get one anyway- from small businessman to criminal because of stupid central bank

  13. cali says:

    Viewers! don’t be alarm these politician are all well off people. They will continue to steel from their own people, if we the people don’t put a stop to these type of activities. By the way, they all have foriegn accounts, where they deal with US dollars. In the U.S. or the Cayman Islands. So don’t be blind folded by one other politician has to say its all prapagandas.

  14. shabba says:

    I hope all these transactions are cleared with the central bank.

  15. you right says:

    Do it right …you correct……… he is indeed maximizing his profit…..$$$$$$…….. you are so correct we don’t know economics ………but u know alot of economics……….congrats………but u no HAVE common sense…… the time weh belize d pay he fy work he mek it seem like he d go tend to his wife then time he is at the banks negotiating his present and future accounts…….but let me and YOU D POOR one tec of one day ……them no pay me NOR YOU fy that day……..but PM get pay in full fy all the days he spends in the banks…putting your money in his account ……a neva need fy go study economics fy have common sense…..you should develop some common sense. caz them not teach common sense…..

  16. John Doe says:

    Be Real, There are two considerations for you:

    1. Dean Barrow is the PRIME MINISTER. He is to set the example for others to follow. Taking money out of Belize is a very poor example for others. It shows that Dean Barrow doesn’t believe in Belize.

    2. According to what I have been reading, these transactions have not been cleared with the Central Bank. So they would be illegal.

  17. johndoe2 says:

    Son, im glad you travel and open your eyes, but I will have you know that Guatemala has always been more advanced than Belize. They are not “getting there” they have always been. The guatemala most people know… ie, Melchor is just a little dirty town at the border.

  18. In the Banking System says:

    To “Be REal”….there is no way that US Banks are paying higher rates of return on fixed deposits. On the contrary, in the past few years, people have brought funds to Belize to maximize on the higher rates the local banks were paying. Of lately, the savings rates in Belize have come down, yet they are still higher than what US banks are paying. The lending rates have also been reduced and yes this is still higher than in the states. The only reason Be Real has his money in the states is to keep it in USD, to avoid local Income Tax & Central Bank scrutiny.

  19. alley cat says:

    Not a bad idea Aldo. The Italian gov. and the gov. of Liberia are doing something similiar to suggestion.

  20. Belizean says:

    This is funny!! I wanna know how much money John Doe has, and his neighbor and his friends and all his relatives, cuz if I cant know it, its illegal, boohoo…NONE OF YOUR BUSINESS, ITS PERSONAL SAVINGS

  21. Do it right says:

    You right? Wow for someone that talks bout having common sense you sure displayed otherwise. I didn’t know you accompanied the Prime Minister on his trips to see when he deposits his money. First off the prime minister doesn’t even need to travel abroad to make a deposit in a foreign bank. Comnon sense can tell you that my friend. Its unfortunate that you don’t get pay when you miss a day at work. My employer follows the labor laws of this country so i don’t have any problems when i take one of my sixteen sick days or one of my vacation days. Secondly, (FYI) you don’t even need economics to know that if a US bank is willing to pay you more interest than the banks here, then the obvious choice is where you get more money. That is common sense my friend. Let me break it down easier for u. You have a car for sale and someone wants to give you $3000.00, then somone else comes along and offers you $5000.00. Which will you take? Basic and simple common sense and basic economics. Make sense before you want talk bout sense “YOU RIGHT”

  22. lifetime says:

    Who cares???

  23. John Doe says:

    Belizean, I am an honourable person and do not break Central Bank Law.

  24. superman says:

    barrow, could you give me one of those cheques? My bank account is xxxxxxx
    Thank buddy!

  25. you right says:

    Do it right ………. u did graduate with honors from economics school but did fail common sense class hahahahahaha u big fool……..all of a sudden u graduate from King dean school ……. NO SENSE PEOPLE ……an it sound like u have been to all his cases…..U stupid fy real i was only speaking in a hypothetical manner….u see u no have common sense….mek a broke it down fy u since u still NO have common sense…and u see no mata how hard a try…. a done tell u a cant teach u common sense….no worry some day u wa have it ….keep praying for it……..aha weh a mi d try tell you was that d belizean people outa d work hard day in an day out if u miss one day its a big deal ( common sense …sound like everybody employed by your employer…hahaha… NO we are not ….some employer do make it a big deal ,,,that was what i was trying to say,,,,,, that your master goes on his own agenda an everything stays as is AND NO ONE CAN SAY NOTHING ( HE IS NOT IN HIS OFFICE ……NOR AT THE US HOSPITAL …….BUT IN THE US BANKS MAYBE HE IS PLANNING D INTEREST HE WILL GAIN WEN ……….K………………K………………D………BUCKET) ….now if u have common sense u would have understand WAT IS WAS TRY TO SAY ..AND IF U DONT……. ASK U LIL BREDAH FROM INFANT 2 HE WA EXPLAIN IT TO YOU……

    NOW IF U READ GOOD I DISTINCTLY SAID ,,,,,he is indeed maximizing his profit…..$$$$$$ (COMMON SENSE AGAIN OR U CANT READ NOW …AH?????) ..MY COMMENT WAS ALL ABOUT KING DEAN HAVING HIS OWN AGENDA…..
    .YOUR EVALUATION:
    ECONOMICS :100
    READING AND COMPREHENSION :20%
    COMMON SENSE: 0%

  26. CEO says:

    This is why there should be laws that are enforced that everyone who is running for public office should have a full financial disclosure along with taxes they have paid over the last 6 or 8 years before they entered politics.

  27. ME says:

    Hey! Media, becarful because Wachovia Bank in the US do not exsist anymore, Wells Fargo is the new name! people, stop looking at other people money…learn how to fill yours.

  28. Lawyer says:

    Wells Fargo is the new name… That bank is not in existents no more… That telling you that the PM saving there from way back when

  29. alrighty then says:

    Do it right American banks dont pay more interest than belize. I know i work for one and have accounts in belize. I get way more interest. One of the banks I work for is where he has an account if the news the report this right. Either way the man probably work hard for the money hahaha

  30. Alrighty then says:

    US banks nuh pay more interest than some of the banks in belize. I know I work for one …..ME was right when saying the name of that bank changed. I even shock he got wah US credit card cause most banks ova yah strick with den deh rules or maybe his pull strings since he dah PM or have US social.

    Then again the man probably work hard for his money hahaha.

  31. you right says:

    Alrighty then …..like your comment but please no seh no more about King Dean caz Do it right d catch feelings…hahahahaha

  32. Pelican says:

    The real reason for banking his money in the American bank is to avoid the DEVALUATION he is bringing down on us right after elections – IF HE WINS!!! Be wise people!!!

  33. poe bwai says:

    Can’t really blame di bald head. He constantly travel to the states. He got married there. He goes shopping there. He goes on holiday there. He gets medical treatment there. His wife is seeking cancer therapy there. I wouldn’t be surprised to hear that he has dual citizenship. He spends most of his money there, so why not stash di cash in U.S. banks? Rememba he is pro rich and not not pro poor as he claims he is. So of course he will spend his money in the states. From his actions i can conclude that he has lost hope in Belize.

  34. Cayogial says:

    STOP ALL THE NONSENSE I AM SICK OF THE LEVEL THAT PEOPLE ARE GOING FOR ONE VOTE, WHY CAN’T PEOPLE MIND THEIR OWN BUSINESS AND JUST GO DO WHAT THEY HAVE TO DO. THIS COUNTRY IS IN DESPERATE NEED OF A NEW PARTY. THIS MAKES ME SICK. i AM GLAD I GAVE UP MY BELIZEAN CITIZENSHIP, FOR ONE PLEASE HAVE A CLEAN ELECTIONS.

  35. now i see says:

    @cayogial i dont think you gave up your Belizean citizenship i think they took it away from you wen you became Guatemalan.and what you care about a clean election if you no give a &#1+ about our country.Of course will have a safe and clean election.May the best win.

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