Fifty-one-year-old Cecil Franklin was remanded today on a charge of rape after he allegedly raped a woman inside her apartment. The victim told police that Franklin, whom she knew and who goes by the nickname “GI Joe,” ambushed her at her apartment door, placed a knife at her throat, forced her inside, and raped her on her bed. With the help of someone in the area, the rapist was detained shortly after the incident and was handed over to police. Franklin, a shoe repairman and bike repairman, was denied bail because of the nature of the charge. The fifty-eight-year-old woman told police that on Monday night around eight-forty p.m., she arrived at her apartment, and upon opening her door, Franklin held her from behind, placed a knife to her throat, and pushed her into the apartment and raped her. She said that a neighbour heard the commotion inside her apartment and called the police. Franklin is no stranger to the court or police. He has a long rap sheet with several convictions for robbery, wounding, and burglary and has also been bound over to keep the peace before. He was remanded to the Belize Central Prison until December nineteenth.
A security guard of Ambergris Caye has been fined four hundred dollars for slapping his common-law wife. Forty-year-old Jose Garcia was arraigned in the magistrate’s court today and admitted to slapping Norma Noh twice. The incident happened on Saturday at their residence thirteen miles north of San Pedro on Ambergris Caye. In the absence of a magistrate in San Pedro on Tuesday, Garcia was brought to the Belize City Magistrates’ Court, where he pleaded guilty to a charge of harm. He expressed remorse and told the court that he should have thought before reacting. The magistrate told Garcia that while he saved court time by pleading guilty early, the fact that he slapped Noh not once but twice was an aggravating factor. Since he is a first-time offender, however, and because he expressed remorse, she did not impose a custodial sentence. In a report to police, Noh stated that at around four o’clock Saturday evening, she left work and got a ride on a golf cart, and Garcia met her, and they headed home. According to Noh, they got into an argument, and that’s when Garcia assaulted her. A doctor has classified her injuries as harm, and Noh requested court action against Garcia. He was given until December twentieth to pay the fine; in default, he’ll spend three months behind bars.
What if there was a way for your money to earn interest or dividends outside of a traditional savings account? Many Belizeans place their hard-earned money in savings accounts, earning up to two percent annually at banks or up to four percent at credit unions. However, those savings could also be invested in securities that offer competitive, often higher, interest rates. In this week’s installment of Five Point Breakdown, News Five’s Paul Lopez explores Belize’s securities industry in detail.
Paul Lopez
Paul Lopez
Let’s talk about securities. And no, we are not talking about home security or business security. We are talking about a financial instrument that has monetary value and can be traded. Let’s look at how this industry is reshaping the financial sector in Belize.
1). What are Securities?
We sat down with Economic Consultant Rumel Arana for an explanation of the securities industry.
Rumel Arana
Rumel Arana, Economic and Financial Consultant
“Securities are generally of two types; you have debt securities and equity securities. Equity securities represent an ownership stake in a business or however is giving that security. People of Belize might recognize that in the form of shares or stocks. The return people get from those comes in the form of dividends. So, when dividends are declared by the business at the end of the year, you as the shareholder receive and amount depending on the percentage or the amount of shares that you own.”
The Belize Telemedia Limited is one entity that deals in equity securities. Recently the telecome giant issued a public notice informing shareholders that the company will begin to pay final dividends for the 2023/2024 fiscal year. And then there is debt securities.
2). What are Debt Securities
It is called debt security, because the issuer is essentially a borrower. The investor does not receive shares in return but rather a stream of annual interest payments. For further explanation, we turned to the Belize City Council. They have issued bonds in the past to advance their development operations.
Bernard Wagner
Bernard Wagner, Mayor, Belize City
“It empowers you as a municipality that you are now able to access funding outside of the traditional way of how municipalities use to access finance. They would either do an overdraft. They would either do loans. But what we found out is that the Belize City investment climate is ripe for issuing securities. We have close to eight hundred million in excess liquidity in the banking system. For Belize City we offer interest rates on our bonds, between four-point five percent and five and a half percent. That is competitive compared to the market. It helps us fund roads, streets, bridges. That is what it does for municipalities.”
3). Regulating Belize’s Securities Industry
And every effective securities industry needs a regulatory body. That is where the Financial Services Commission (FSC) comes into play. At its core, the FSC is mandated to protect and enhance the reputation of Belize as a financial centre while protecting investors from unfair and fraudulent practices. Guided by the Financial Services Commission Act, the Securities Commission Act, and the Municipal Securities Act, FSC’s Securities Policy Analyst, Shawn Gordon, further explained the role of the FSC.
Shawn Gordon
Shawn Gordon, Securities Policy Analyst, FSC
“A large part of our mandate as the securities regulator is to ensure that investors are well protected at all times. So really, if you have an entity or a company that wants to conduct securities business, they must be registered to do so within our jurisdiction. We need to ensure that one, the company and also the personnel involved are fit and proper or even qualified to do so in our jurisdiction. We also regulate offerings, so for example, the Belize City Council bonds. Typically, when an officer wants to put something to the market, the have to get the approval from the commission, the security regulator. So, typically how that works they have to submit a prospectus, a document that has all the material you as an investor need to make an informed decision.”
4). The Future of the Securities Industry
Belize has the components necessary to expand the market for securities to be issued, which is also known as a primary securities market. But there is a next step in the process where these previously issued securities can be bought and sold by investors. This is referred to as a secondary market. The stock exchange market is an example that does not currently exist in Belize.
Rumel Arana
“At the stock exchange, you need several things that happen before that. You need underwriters, investors, what we call a central securities deposit. We can’t hold them all in terms of the physical certificate. If I want to trade, that would be harder. I would have to walk with my certificate to you and say here this is worth ten thousand dollars, purchase this from me and you hand me ten thousand dollars, you know the risk involved in that. So you need central security, institutions and an economy that is ready for it. If you are being honest the average Belizean household is making ten thousand dollars or less, so that doesn’t give them disposable income to make that purchase.”
5). Become A Smart Investor
So, until then, the key takeaway for potential investors is that opportunities exist to earn passive income outside of the banking system through securities investments. But, as FSC’s Securities Policy Analyst, Shawn Gordon, explained, every potential investor must always do his or her due diligence.
Shawn Gordon
“The key thing here is to ensure that investors are doing their part, their own due diligence. So, if you are seeing an advertisement from a firm, whoever it is, domestic or international, you must always doublecheck with the commission via our website or simply send us an email to ensure that entity is registered to carry out securities business.”
While Moses Barrow maintains that the event hosted on Sunday by the Tracy Panton-led Alliance for Democracy was not a legitimate U.D.P. convention, the alliance is standing firm. In a press release issued today by Panton under the U.D.P. banner, she declared that Barrow is no longer serving as the party leader, effective immediately. During the press conference hosted earlier by former U.D.P. Minister Anthony “Boots” Martinez, he said that Panton is the interim party leader until another convention is held to elect a new leader since Barrow was recalled on Sunday.
Anthony “Boots” Martinez
Anthony “Boots” Martinez, Former UDP Minister
“As far as I know deh have to invite people fi di position. If my memory serves me right, there must be a convention. Not earlier than thirty and later than twenty days to fill the various post and so as I understand it, that is the interim leader until such time.”
Reporter
“It is confirmed in a leadership convention?”
Anthony “Boots” Martinez
“Yes sir. So the delegates again I’ll have to come back and confirm that. Not with the fanfare sir, Not with the fanfare. So I don’t think it will be so much expense. So the delegates will have to be returning back to make certain decisions. That da just my humble view and my interpretation ah it. Of course I’m no lawyer, but I could read. Well as far as I could read fairly well. You know them kinda way de.”
Returning to Moses Barrow, he claims to have invested millions of dollars in the U.D.P., including funds for standard bearers who do not back his leadership. Barrow further stated that The Alliance is eager to claim the U.D.P. name due to the challenges of securing funding for the party’s operations.
Moses “Shyne” Barrow, Leader, U.D.P.
“Nobody wants to give any opposition party money. That’s why they want to hold on to the UDP name. Because even as a UDP organization, it is difficult to get monies from the donor community. Imagine a third party. And that is what they’re afraid of. And that is why they’re engaged in deception and fraud. But when Patrick Faber was a leader of the UDP and Tracy was right next to him, they couldn’t raise any money. They complained about that over and repeatedly that they had no money, they cut the salaries of the staff, they could not do anything, they did not have one protest, they did not have one event, they did nothing while Patrick Farber was leader. The point I’m trying to make to you as far as the municipal elections, when I raised that money and I spent, personally, I spent millions of dollars on this party. Since I have been leader and I spent at least a million dollars personally in the municipal elections. When that money is given to colleagues, you trust them to deliver and perform. And the performance was dismal.”
At today’s press conference, former U.D.P. minister Anthony “Boots” Martinez explained that he never relied on the party to fund his political campaigns. Instead, he funded his campaigns out of pocket, acquiring the money by any means necessary. He, however, used an old saying—one that he shouldn’t have—and retracted his statement after one of the reporters pointed it out to him.
Anthony “Boots” Martinez, Former UDP Minister
“Let me make it clear, United Democratic Party, all the years that I served, I have paid five percent of my salary to this party. And when time there is elections, I fund my own election. Whether theif, borrow, or beg, I fund my own election with nothing from the party. I just dih seh. I find it, by any means, I find it.”
Reporter
“But you she theif?”
Anthony “Boots” Martinez
“I just di use wa analogy.”
Reporter
“Yo cya use ney kind ah analogy deh.”
Anthony “Boots” Martinez
“I di she I find my resourcefulness wherever I get it. I get it. But any which ways. Let me reframe that. Borrow or beg. Mek we go deh. I wa take back dat theif deh cause you know. Maybe da wa work weh, to me, inna lotta senses, the general public, looks on politician as thieves. Noh mek we hide from that but maybe that’s why maybe I include the word. When you talk about any. The first thing people she, alla unu thiefing politicians. No matter red or blue and that da di truth. But any which way.”
Disney has released the trailer for the upcoming documentary The Honorable Shyne, which explores the journey of Moses “Shyne” Barrow. Barrow gained fame in the late 1990s as an emerging rap star, but his career took a downturn after he was charged in connection with a high-profile nightclub shooting involving rap mogul Diddy. In 2001, Barrow was convicted and sentenced to ten years in prison, while Combs was acquitted. According to Disney, the documentary offers a personal look at Barrow’s evolution. According to Barrow, the documentary shows a true image of his life.
Moses “Shyne” Barrow
Moses “Shyne” Barrow, Leader, U.D.P.
“It’s quite a journey of tragedy and triumph, and that was the main focus. I did not want to tell a victim’s story. People have been coming to me to do a documentary forever. I would say for the last maybe 20 years, people have wanted to do a documentary with me, but I did not want to tell the Sean Puffy Combs documentary. I did not want to tell the, Oh, you know, this is what happened to me. It’s all your fault documentary. I think now is the right time. And so I’m very fortunate to have the right partners that I could have entrusted, um, to tell the journey truthfully, not even bias to me and I believe this is a truthful depiction of my journey, triumph, tragedy, triumph again, and we continue the fight. And I would not have been able to survive anything that I have if maybe I grew up differently, you know, in my father’s bosom, you know, being pet and powdered. And you know, my father and I have never had a better relationship now and I’m not ashamed of that. And you will get to see in the documentary that my father is not this great orchestrator of Shyne Barrow. In fact, we, we differ on many things.”
A man is reportedly missing, and his cousin came forward to ask the public to help her locate him. Nichole McDonald told News Five today that he was informed by a police officer last week that thirty-seven-year-old Akeem Morgan did not report to court for a case he has pending for a gun charge. McDonald said she bailed Morgan from prison because he had complained of abuse and was trying to improve his life. Now she is concerned about his whereabouts because he normally reports to the police station each week, as per one of the conditions of his bail.
Nichole McDonald
Nichole McDonald, Cousin of Akeem Morgan
“I bailed him out of the prison because he was charged with kept firearm without a gun license. Unfortunately, he told me that the police beat him up and planted the gun on him. I got a call on Friday from the court police that he did not show up to court and he’s out on bail under my watch. Every week he goes to the station to sign. He works in Cayo. I got a text, I put it out on my Facebook on Sunday and I got a text that police was looking for him in Corozal. They had him detained. Unfortunately, when I went to the police station on Monday, they did not find him. They didn’t even want to take my report. I spoke to Sergeant Arzu and she said that I need to locate his address, but he was releasing my custody. I’m his cousin. His mom is my aunt. She don’t live in Belize. He spent years and years and years in prison.”
Benita Keme-Palacio
“When was the last time you saw him and interacted with him?”
Nichole McDonald
“I last interacted with him in September and he came to sign in and he said Cuz I come sign in. Then ah gwein back da mi work da Cayo cause ih mi di work da Cayo for some – I don’t know the person name, but he – I can see he was trying to change his life Could see he was trying to change his life.”
A network of Indigenous leaders from across the country recently convened for a dialogue to amplify their voices and address environmental issues in their indigenous spaces. Supported by the University of California, the event was held both online and in person at the Sir Colville N. Young Building in Belize City on Tuesday, featuring leaders from the Maya and Garifuna groups. The event highlighted the importance of including Indigenous voices in environmental policy discussions and urged policymakers to listen and involve them in decisions about their lands and resources. Here’s more from one of the leaders who attended. Garifuna Leader, Cynthia Ellis, told us more.
“This gathering is to presence the indigenous voices, the people whose voices that are often not heard, you know? The thing is that these people have for long been living in the on these lands and in these communities, and they have woken up sometimes and seen different projects and programs that are being developed in our space. And we have not been involved in the planning and implementation of these projects. So we are just presencing ourselves. Plan recommend themselves, and these plans say, Here I am to participate in my own development. We are having an indigenous peoples network, which includes Maya, Garifuna, Creole, and all these people who have an interest in upgrading and uplifting the spaces of our people. I’m talking the forest. I’m talking about Barranco, Hopkins, and Seine Bight; all these coastal communities where we have the situations of intense development, high-rise resorts, and all that kind of development, which often compromises the situation of our cultural way of life.”
The infighting in the United Democratic Party continues. A few minutes ago, Albert Area Representative Tracy Taegar-Panton fired off a press statement under the UDP banner.
The release is titled “Hon. Moses Shyne Barrow, No Longer Leader of the UDP.” It says that effective immediately, Barrow is not authorised to represent the UDP in any capacity, including soliciting and collecting funds. The release said, “The UDP is moving forward under the new leadership of Hon. Tracy Panton, who was overwhelmingly endorsed by Party delegates at the convention. We are committed to upholding the values of transparency, integrity, and unity as we continue to work on behalf of the Belizean people.”
Both Panton and Barrow are at odds. He says he is the party leader, but Panton says she is the interim party leader, following a convention on Sunday.
