April, 2024 - Channel 5 Belize

Suspended SFXCU Board Wants Answers from Registrar

Members of the Board of Directors of Saint Francis Xavier Credit Union say they are concerned with the way the Registrar of Credit Unions is managing the institution’s funds. Viewers will recall that the board was ousted by the Registrar back in March 2023, following an audit of the credit union. That audit reportedly showed several deficiencies in the management of the credit union, as well as breaches of the Credit Union Act. The suspended board challenged the registrar’s takeover in court and lost. They have indicated that their intent is not to appeal the ruling. They are, however, questioning some of the decisions that they say are being made at the credit union currently. Here is what Everaldo Puk, the credit union’s suspended Chairman told reporters on Monday.

Everaldo Puk, Suspended Chairman, SFXCU

“We need to inform our members as to what has been occurring in the credit union and these are things which we have been learning from members who are coming out of the premises after having approached the personnel in there for different services. And one of the first things that we understand is that there are loan restrictions now. So, once you owe a balance you just wouldn’t qualify and go for a new loan which we would call refinancing, that’s completely out. In some cases, people who have the amount of savings that would cover the loan would still have their application denied, not contemplated at all because they say if you owe any balance, you just won’t qualify for any further loan. Our credit union has always been known for its willingness to contemplate assisting in emergencies now there have been several members that came out from the offices saying, ‘I went in there, I had an emergency, and I was told no there is no loan for emergencies.’ Fees for services rendered there have gone up and what really concerns us also is we look at major renovations going on without an approved budget and yet these are renovations that may be going contrary to already established plans.”

Suspended SFXCU Board Says Things Not Better Under Registrar

Contrary to reports, suspended SFXCU General Manager, Rafael Dominquez, asserts that the institution was not in any financial trouble under his leadership. He contends that the credit union was in a much better financial position under his leadership, even though huge red flags were raised over the familial ties he had at the time with other members of the managerial staff. Here is what Dominquez had to say.

Rafael Dominguez, Suspended General Manager, SFXCU

“At no time has there been any danger in the financial credit union. As a matter of fact, the figures are there to show that in 2023 the credit union kept growing. Nevertheless I need to point out that while checking on the figures as of December of 2023, recalling that we were suspended in March 2023 and then the Central Bank administrator came in place, the figures of December 2023 which is being stated on the Central Bank website showing that St. Francis Xavier Credit Union overall capital and liabilities has reduced from one hundred and seventeen million dollars ending March to some closer to one hundred and fifteen million dollars at ending of December. The loan portfolio has decreased as well from ninety million to eighty-seven million. So, we can see that something is triggering financial business of the credit union which is a concern for us that while we thought that well if the Central Bank is taking over things would be better but that is not the case.”

Joseph Camp Begs GG for Pardon, Says He was Unlawfully Detained

US citizen Joseph Camp, 39, has written to Belize’s Governor General Dame Froyla Tzalam, asking for a pardon. Earlier this month, Camp spread false news during a shooting incident in Belize City. He was arraigned in the Belize City Magistrate’s Court where he pleaded guilty and was fined six hundred Belize dollars.

In the letter to the GG, Camp says, “I am writing pursuant to Section 52 et seq of the Belize Constitution 1, to respectfully request a pardon for the offense of Spreading False News.”

According to Camp, the information he shared during his Facebook live video was provided by a Belize police detective. He says, “I acknowledge the gravity of the offense and have accepted full responsibility for my actions. However, I wish to provide further context to my case. The charge stemmed from information that was provided to me by a Belize Police Detective…”

According to Camp, “upon becoming aware that the information may not contain complete facts, I took immediate steps to rectify the situation by attempting to remove the content.” The content remains on his Facebook account.

Camp says he has also written an official letter to the United States State Department and U.S. Embassy in Belize. In that letter, he says that he was unlawfully detained.

*Joseph Camp writes to U.S. authorities, claiming he was unlawfully detained.*

Atlantic Bank Sues Mike Feinstein and Stake Bank Enterprises

The Atlantic Bank Limited, businessman Michael Feinstein, and Stake Bank Enterprises which is presently in receivership, are headed to litigation. On Friday, a claim was brought before the High Court against Feinstein, who is a director and shareholder of Stake Bank Enterprise Limited. In the lawsuit, Atlantic Bank claims that it has provided Stake Bank Enterprise with sixty-two million dollars to develop Stake Bank Island into a cruise ship docking facility. Part of the project required that roughly twenty-three and a half acres of seabed had to be reclaimed around the existing land mass. In 2018, Atlantic Bank proceeded to make funding available for the project on the strength that Stake Bank Enterprise would ensure that the title to the reclaimed acreage would be acquired from the Government of Belize in Stake Bank’s name. Furthermore, the claimant states that in 2021, Feinstein illegally applied for and received title to the extension in his name rather than in Stake Bank’s name. A mortgage debenture carried out in January 2022, clearly stated that the original sixteen acres of the island, as well as all future leasehold and freehold property, including all buildings and fixtures, are the property of Stake Bank Enterprise Limited. A few weeks ago, Atlantic Bank learned that Feinstein had possession of the title to the extension in his name. He was then required to convey the title for the extension to Stake Bank Enterprise so that it falls within the charge created by the mortgage debenture. Atlantic Bank asserts that Feinstein has refused to do so. As such, it is seeking a declaration that Feinstein holds the extension to Stake Bank Island, as a constructive trustee for Stake Bank Island and subject to an equitable charge in favor of Feinstein. ABL is also seeking an order directing Feinstein to immediately transfer the extension to Stake Bank Island to Stake Bank Enterprise free and clear of any hindrance or charge. Among other reliefs, Atlantic Bank is also seeking damages against Feinstein for fraud and breach of fiduciary duties. Atlantic Bank Limited is being represented by the law firm of CourtenayCoye LLP.

Feinstein’s Attorney Writes Central Bank Regarding ABL

Earlier today, the attorney for Michael Feinstein wrote to the Governor of the Central Bank of Belize requesting an investigation of Atlantic Bank Limited for, “serial breaches of the Domestic Banks and Financial Institutions Act”. The letter states that ABL approved and disbursed over sixty million dollars in loan funds to Stake Bank Enterprise Limited using monies belonging to depositors, as well as the pension funds of employees working at Atlantic Bank Limited. According to Stake Bank Enterprise, this was done without ensuring that adequate security was put in place at the onset. It further states that a mortgage debenture was not executed until January eighteenth, 2022, only after Central Bank had approved the sixty-million-dollar loan facility for the Stake Bank project. Aside from the loan amount, Atlantic Bank purportedly created subsidiary credit facilities in the form of construction credit loans that totaled approximately twenty-one million dollars to continue financing the Stake Bank project out of the watchful eye of the Central Bank. The letter also points to, among several other observations, a considerable devaluation of the security held by Atlantic Bank which puts depositors and employee pension funds at risk, since the loans were not properly collateralized.

Senate Inquiry Postponed Yet Again

Turning now to parliament… This morning, a scheduled senate inquiry into Portico’s controversial Definitive Agreement was placed on hold yet again after the Office of the Attorney General wrote to the chair of the Senate Special Select Committee on Friday, indicating that the upper house remains on recess. The Senate has been on break since the start of Holy Week and continues to be on time off. Despite explaining the need to get on with the process, Chairperson Janelle Chanona was advised that decisions taken by the committee during this period could be challenged in a court of law. Here’s what she shared regarding the postponement earlier today.

Janelle Chanona, Chair, Senate Inquiry

“What has happened today is that on March twenty-seventh, we set a date for back-to-back public hearings today, the twenty-second and the twenty-third. Friday evening, at six p.m., we were forwarded a legal memo from the attorney general’s ministry indicating to the President of the Senate that there are two things that would prevent today’s meeting. One is that the senate is on recess since Holy Week and two, that as a result of being on recess that the committee should not be working because decisions taken at the committee meeting may be legally challengeable. We responded Saturday morning to that legal memo content indicating, again, our TOR speaks to working expeditiously and urgently and that we had set this meeting for quite some time, that we were relying on the guidance provided by the National Assembly, the Office of the Clerk, in terms of parliamentary practice and procedure, and that everything was set up for Monday morning. And up to Sunday, last night, we got a response again, after hours, from the Office of the President, indicating that the decision was not just to cancel our committee meeting, but to advise that the committee meeting should not proceed, but that all committee meetings scheduled outside of recess be canceled, or within recess, be canceled. I’ve been here since March 2022, I think it’s definitely an opportunity for everyone to learn. What we do lament and what we place on record is the timing. Had we been able to get this legal opinion which I will say right off [the bat], it’s the very first time a legal opinion on such procedure has been asked for and received. But it is regrettable that Friday evening into the weekend for a Monday morning meeting that this transpired.”

Senate Inquiry Adjourned to May

According to Senator Chanona, witnesses were informed of the delay at the eleventh hour on Sunday night, ahead of sessions that were scheduled for Monday and Tuesday of this week.

Janelle Chanona, Chair, Senate Inquiry

“Last night, we moved very quickly to inform the witnesses, we had some key witnesses planned for today, to say that this was technicality that was being brought to the committee’s attention and that we’re looking now at a new date in May for the committee to meet and move ahead with its work. There is also the matter of the newly-appointed senator for the National Trade Union Congress and civil society committee to be sworn in. Again, the motion speaks to having that person represent in the committee and make contributions and we want the committee to be at full strength. So we are also working to make sure that all of those procedures and requirements related thereto happens so that when the committee meets we have the full membership in place.”

Reporter

“It’s a lot of delays that this process has been met with, but earlier you also said that all the members of the committee remain undaunted. The work will continue and you want to see it through.”

Janelle Chanona

“I think this is really testament to the fact that this motion was not taken lightly by the senate on a whole. You will recall that this motion was passed unopposed by the members of the senate. This is an important matter of public interest and we are determined as the senate to produce a report that will make recommendations that will produce positive change for the work of parliament, particularly the senate and most importantly that public assets and public resources be managed in a way that is within the scrutiny and investigative powers of the senate.”

Richard Crawford is Knocked Down and Killed in Crooked Tree

A motorcyclist perished in a fatal road traffic accident on Saturday morning near Crooked Tree Village. Fifty-eight-year-old Richard Crawford was traveling along the stretch of road when he was knocked down and killed by Andy Gillett, the driver of a Mazda Tribute that crashed into Crawford. The thirty-three-year-old fisherman was charged with several counts related to the deadly incident. Here’s more from Assistant Commissioner of Police Hilberto Romero.

ACP Hilberto Romero, Regional Commander, Eastern Division

“About 6:20 a.m. on Saturday, police responded to a fatal road traffic accident at Crooked Tree Village. Upon their arrival, they saw a Mazda pickup extensively damaged and a motorcycle. Information is that Andy Gillett was driving the Mazda vehicle when he lost control and collided into a motorcycle being driven at the time by Richard Crawford. Crawford received severe injuries and was taken to the KHMH where he was pronounced dead on arrival. An investigation was carried out and Andy Gillett has been arrested and charged for the crimes of manslaughter by negligence, causing death by careless conduct and drove motor vehicle without due care and attention.”

Andy Gillett is Charged Following Fatal Crooked Tree RTA

This morning, Gillett appeared before the lower court in the presence of attorney Orson ‘OJ’ Elrington. No plea was taken from Gillett as the offenses for which he was charged are being dealt with on indictment. He was offered and met bail in the sum of eight thousand dollars, and must report to the Ladyville Police Station every Friday. Attorney Elrington spoke briefly following Gillett’s arraignment.

Orson ‘OJ’ Elrington, Attorney-at-law

“Yes, he was arraigned for three different charges: manslaughter by negligence, causing death by careless conduct and driving without due care and attention. The matter came before the learned magistrate this morning and he was granted bail in the sum of eight thousand dollars with two sureties.”

Reporter

“Are you familiar with the accident this weekend?”

Orson “OJ” Elrington

“No, right now we don’t have anything beyond what is the summary of facts which, again, I always say is a misnomer because it’s the police’s version of the facts. And so, until I have been able to, we obviously have disclosure on July fourth, I believe. The court has set disclosure for July fourth. Then is when we will have the evidence that the prosecution intends to us against my client for the substantive matter.”

Seven-year-old Minor Perishes in Weekend RTA

A seven-year-old minor also lost his life in a fatal road traffic accident over the weekend. On Sunday, Martin Swift Senior and his family were traveling along the Old Northern Highway in the vicinity of Lucky Strike Village when their vehicle overturned. Several persons were injured during the accident, including Martin Swift Junior, who succumbed to his injuries at the K.H.M.H.

ACP Hilberto Romero, Regional Commander, Eastern Division

“On Sunday, April twenty-first, there was a fatal RTA between miles twenty-eight and twenty-nine on the Old Northern Highway. Police visited the area where they saw a vehicle, a Mercedes Benz overturned. Information is that the driver of that vehicle is Martin Swift who was along with several of his family members when he lost control of the vehicle and the vehicle flipped. Several of them received injuries and they were taken to the KHMH for treatment where Martin Swift Jr., seven years, succumbed to his injuries. They are presently receiving treatment at the KHMH and they are expected to recover. The area where the accident occurred, there’s a curve and yes, we believe speeding was the cause.”