Choice Bank of Belize: from the frying pan into the fire

Choice Bank of Belize: from the frying pan into the fire

The super-liquidator, Henry J. Hazel, nominated by the Central Bank of Belize at the beginning of July didn’t last even two days and yet, we don’t know how much he was paid. Thanks to the pressure put on the Central Bank of Belize by the Panamanian attorney Giovanni Caporaso Gottlieb, it appears that Hazel understood that there is a group of vigilant account holders who wouldn’t let him be the only one to gain from the liquidation, like he had done in the past. The new liquidator, Cedric Flowers, is a certified accountant from Belize, with experience in the liquidation of the Civil Service Credit Union where the members haven’t received almost anything of their deposits.

At two weeks after taking “possession” of the Choice Bank, Cedric Flowers did exactly what the attorney Caporaso denounced in his Open Letter to the Prime Minister Dean Barrow and the Governor of the Central Bank of Belize Joy Grant, which is dismiss all of the bank’s personnel to replace them with people of doubtful experience. In the two weeks when he has exercised the task of liquidator, Mr. Flowers hasn’t deigned to issue an announcement saying what his plans are or at least, to show good manners, to introduce himself and say that he needs time to understand the situation.

Ad Kees, ex vice-president of Choice Bank has disclosed a press release where he states that the bank has a surplus.

Mr. Cedric Flowers, where is the money belonging to the Choice Bank account holders? And when will you decide to make a public communication?

On the other hand, the attorney Giovani Caporaso Gottlieb states that there’s nothing left to do but denounce Belize’s banking system to the FMI, where the Prime Minister Dean Barrow exercises the job of Minister of Finances and the Governor Joy Grant is going for the second liquidation in two years, demonstrating that the Central Bank of Belize isn’t complying with its functions.

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