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Apr 14, 2005

U.D.P. Chairman seeks termination of S.S.B.?s General Mgr.

If you listened on the radio or watched portions of the Senate Select Committee hearings into the Social Security Board, you were probably riveted by the testimony from General Manager Narda Garcia. Well this week, Chairman of the United Democratic Party, Douglas Singh, sent not one but three separate letters requesting urgent action be taken on three aspects of that testimony. The Chairman wrote to Prime Minister Said Musa requesting the immediate termination of Narda Garcia and that charges be brought against her, “considering her unequivocal admission that she knowingly and wilfully participated in a process to approve loans from the S.S.B. without adequate collateral, thereby resulting in millions of dollars being lost by contributors to the Social Security Fund.” In a second letter, Singh urges the Director of Public Prosecutions Kirk Anderson, to investigate Garcia’s allegations that with respect to certain loans, a fictitious insurance company was created and premium payments made. Singh says a check of the insurance registry reveals that there is no such company registered. Singh urges the D.P.P. to investigate and take appropriate action into this fraudulent act. And in a third letter sent to Keith Arnold, Director of the Financial Intelligence Unit, Singh asks the unit to conduct its own investigation into the “special purpose vehicles?, such as the Belize Mortgage Company and N.H. Financials named in the Senate investigation. Singh says these should come under public scrutiny because of their role of channelling Belize Social Security Board funds into private bank accounts in New Orleans, Miami, and New York.

Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

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