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Apr 11, 2014

SIF Rep says no monies for investors of previous contract

Ernest Raymond

Last Wednesday, the Social Investment Fund handed over the contract for the completion of the Dangriga Marketplace to CB Constructions out of San Ignacio. The new contract valued at a total of one point two million dollars is expected to be completed in six months. The project was taken away from the previous contractor, Kenard Smart, back in September of 2013 after he had received eight hundred thousand dollars from SIF for construction works on the market. But there are still concerns in respect to that agreement and it comes from two investors who lost approximately six hundred thousand dollars. According to Gush and Emy and Lyndon Bailey, when the contract was discontinued with Smart, their monies went down the drain. At the handing over ceremonies in Dangriga, SIF executives made no mention of whether the investors will see their monies returned. So on Thursday, News Five caught up with Belize Municipal Development Coordinator at SIF, Ernest Raymond and we asked him about the issue. Raymond said, it had nothing to do with SIF and that Gush and Emy and Bailey should ask Smart where’s the money.

 

Ernest Raymond, Belize Municipal Development Project Coordinator, SIF

“Much have been said about the Dangriga market and if you recall just last Wednesday, we restarted that project which we hope will be completed in six months time.”

 

Reporter

“One of the issues was of course with the previous holder of that contract, Mister Kenard Smart and the two investors, Gush & Emy and Lyndon Bailey. Talking to Mister Lyndon last week, for him, he has lost a hundred thousand dollars and Miss Emy, Five hundred thousand. Will these two investors see any part of that money returned to them?”

 

Ernest Raymond

“They need to check with Mister Smart. He was the contractor.”

 

Reporter

“There was of course sir, emails showing where SIF contacted these investors directly. Wouldn’t that mean that they were recognized by SIF as being part of the project?”

 

Ernest Raymond

“We deal solely with the contractor. It is with the contractor we deal with and in this particular case, the contractor had some associates. All payments, all communication are done with or on behalf of the contractor.”

 

Reporter

“So six hundred thousand dollars for them has nothing to do with SIF?”

 

Ernest Raymond

“Nothing to do with SIF.”

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