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Jul 18, 2014

Alvaro Rosado explains signatures on cheques

Alvaro Rosado

Rosado also set the record straight on how it came to be that he and his wife began signing checks on behalf of the foundation.


Dr. Alvaro Rosado, Founder, Ariel Rosado Memorial Foundation

“When we met the board instructed me to go to the bank and get the signatories changed so that we could have the current secretary and treasurer replace the Sanchezes who had abandoned the foundation.  I went to the bank and I presented the papers, asked for the forms and presented the forms.  I was informed that the Sanchez’s had to sign for them to be taken off, they could not be taken off because the board was not an incorporated body.  So they, and the way it was set up, they had to sign that they would come off.  I told the bank that they would not sign this because we are not on good terms and the bank manager said well I’m sorry but you really have to get it signed.  I then told the bank manager well if that’s the problem then my wife will just sign a check and take all the money out of the bank and open another account.  And the bank manager said you have been signing checks with your wife and I said yes we have for the last year and she said well that is something that should not have happened and I must tell you that we will not honor any other checks that come that way.  So we did not get into any trouble with the bank, we approached the bank.”


The matter is presently before the court and while it was intended that it would have been kept under the radar, the issue has gone public. 

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1 Response for “Alvaro Rosado explains signatures on cheques”

  1. Uncle Benji says:

    Why is it that everything we Belizeans touch, we break?

    Belizeans (in comparison to other Central American nations) are highly educated people, yet we are so antiquated business wise. This a crying shame.

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