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#231692 - 03/07/07 02:48 AM speculations on the DFC hearings
Marty Offline
from Ray Auxillou

CHANNEL 5 TV NEWS SENATE HEARINGS

I saw the Channel 5 tv news on the hearings and I was sort of dozing and listening to the wife in the afternoon listening to the Senate Hearings on tv as well. Up before the Commission was Troy Gabb and Glen Godfrey.
The lady chairman came across very well and forceful, keeping control of the hearings. The defense of both Troy and Glen, was the best defence was an offense. Glen was once a PUP politician and still retains his insider status within the higher echelon of that party. At the time of this particular scandal in the hearings, it was to do with his Chairmanship or something over the Development Finance Corporation. In this regard he was Troy Gabbs boss. The twin argument by these two, were the audit was no good. Troy said DFC was making money and the auditor said it was being looted. The lady chairperson pointed out that it was only a profit because GOB kept putting in money to keep it afloat for bad loans to the tune of $61 million or so.
Glen of course is no mystery! My opinion of him from a couple of decades was that he really wanted to get rich quick, as much as he could. He tried all kinds of things, most of which I formed the opinion that he would cut corners to the edge, in order to make money at any price. In his early years most of his deals were legitimate. You could watch his progress through the years in his attempts at one thing and another, to get rich quick. It finally came together when the PUP last political term inherited a government with no money and they all wanted money in the PUP, more than was available from existing sized government revenues.. So the infamous GROWTH ECONOMICS policy was created and a $1.2 billion credit card style debt was allowed to run rampant. Debt being debt, usually compounds and now is over $3 billion, though the original amount used, never exceeded $1.2 billion. It is not clear whether Glenís bosses, Musa and Fonseca put him up to swindling money or not? Or if it was a natural progression of his own nature and greed. The opposition says yes it was Fonseca and Musa directing things, but Glen and Troy are cutouts. I suspect, if Fonseca gets endangered as opposition media claim as the spider in the web of a nefarious enterprise, Glen will suddenly die, wherever he is. The chance is slim though, as Fonseca is Minister of Security. From the hearings on TV, I got the impression that Glen already has his alleged millions stashed abroad and is busy making a new life for himself in another country. Which country I wonder? How far will a few ten millions go? It is unlikely that Fonseca our chief of Internal Security would have Glen's passport seized as a flight risk and Glen for all intensive purposes is now a foreign national of someplace else, his talk at the hearings revealed? I wonder how many different passports he has now? Did he prepare well enough in advance? Was Glen working on his own, or fronting for higher up politicians in the PUP as the media imply? Now there is the question?
Troy Gabb gave a different impression. In return for small deals in which he is alleged to have made a few hundred thousand dollars, he appears on television to have sold his soul to his bosses in the political hierarchy, which included Glen. While Glen was working millions, Troy was Glen's pet bureaucrat working tens of thousands, maybe over a hundred thousand for himself, the investigations are showing so far, for opinion forming purposes? I wonder if he feels good about it now? At the most he came across on television as a cheap crook, to me. Sort of a braggart conman, a bit smoother in education and slippery gift of gab than a swing bridge hustler, but more or less the same style. One could see where the more passive bureaucratic types in the DFC would not have bucked him, because of his forcefulness, higher echelon position and fast talk, when he and Glen were cooking up deals, to circumvent procedures in handling money and contract deals.
They both came across as hogs at the feed trough, when the DFC was being pumped with millions and millions of borrowed dollars at taxpayers expense. This is certainly campaign meat for third parties for the election. Troy will have to fend for himself I think? Heís not an expendable cutout. He got his cheap payoff and I wonder if he feels it was worth it now? A hundred thousand or two doesnít go very far these days. He is unlikely to get another decent job from anybody in this country? I doubt Glen feels any loyalty to Troy and will offer to move Troy's family abroad to live at his expense. These things donít quite work that way. So far, Glen and Troy are providing a united front and defense. When, or will it fall apart and they start accusing each other and spilling the beans? Troy is the more vulnerable to a jail sentence as there is no excuse for his actions. Glen can claim ignorance and probably will. Troy is Glen's fall guy. All Belizean bureaucrats should learn from this, that you keep a diary and note time and date and verbal instructions from those in the bureaucratic chain above you when you are given orders of dubious value. Wherever possible you put it in writing by e-mail so it is public record. I had my wife do that in MDCollege system. She was ordered verbally several times over the years to commit illegal acts, and if caught her superiors could have denied saying things. I had her send e-mails quoting the verbal orders, which torpedoed those things before they occured, much to the anger and chagrin of the upper level bureaucrats. Sometimes a lower level bureaucrat has to stick their neck out and risk the job in defense of being made a scapegoat. If you submit for job security, then you deserve getting the can tied to your tail if things go wrong and become criminal actions.
If the allegations currently in vogue in the media about CALíS mule carrying funds and Fonseca with the Presidential candidate in Panama are true, as to drug money laundering sources, I wouldnít think Glenís life would not be worth much, as he is obviously the high risk factor for exposure. It will all depend on whose money CAL was carrying to Panama? Is it drug laundering, or BTL skim money, or what? Glenn seems to be the weak link in any connection to INTELCO and anything else prosecutable along that line? Remove him and if Musa and or Fonseca are involved as the opposition media often imply, then they are free and clear. If it is drug money laundering through his bank, then I expect Glen would be a dead man from even more sources. Heís got himself in a dicey position in deciding to take a short cut to getting rich quick. Maybe another country, another life and $50 million is worth it? I don't think I could spend a million myself. Don't have those kind of tastes. Still you wonder about these things when studies of Lottery winners who get $30 million or so and three years later they are filing for bankruptcy. How many homes do you need? Home many women can you sleep with , especially if you are over sixty years of age.
The main chain in the looting and plundering of DFC was Glen apparently and Central Bank, allegedly operating on instructions from Fonseca and Musa, if you believe the opposition media speculations? Be interesting if that ever comes out? Though I doubt it, should anybody ever get close, Glen Iím sure as weak link will suddenly be a dead man.
The lady who is chair of the DFC came out very credible and excellent. She will do well in any bureaucratic role in the civil service if that is her role in life? This is an interesting SOAP OPERA though it is more looking like a SOPRANO novelo crime series on television. The bodies havenít started littering the landscape yet, but I expect they will soon.
The big suspense in the current weekís chapter is whose money was Cal carrying as a mule? That will decide where the weak links are down the chain. Very exciting entertainment in Belize.


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#231696 - 03/07/07 03:58 AM Re: speculations on the DFC hearings [Re: Marty]
Anonymous
How depressing, that all this is known yet these people continue to plunder and no-one stops them.

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#231718 - 03/07/07 03:37 PM Re: speculations on the DFC hearings [Re: ]
Katie Valk Offline
The ladys' name is Merlene Bailey Martinez who deserves a standing ovation and the Order of Belize medal. Belize is made up of many people like her too. Glenn lives between Belize and the US. Ralph Fonseca is the next to be questioned by the Commission.
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