Charges dropped while Committee will decide on $$$

Posted By: Short

Charges dropped while Committee will decide on $$$ - 08/23/08 11:07 PM

Charges against Belize Bank & F.C.I.B. dropped
Prime Minister dropped the big news when he announced that charges brought against the Belize Bank and the First Caribbean Bank by the Financial Intelligence Unit were being withdrawn. Belize Bank was charged with seventy-nine charges of failure to disclose suspicious transactions to the Central Bank on June eighteenth and First Caribbean Bank was charged later on July twenty-second with one hundred and thirteen charges.

Barrow names Oversight Committee for Venezuelan millions
And as for those ten million U.S dollars from Venezuela that the Central Bank retrieved from the Belize Bank on August eleventh following months of litigation in court, the Prime Minister announced he has appointed a Steering Committee that will have oversight on the millions.
Chairing the steering committee is Deputy Prime Minister Gaspar Vega, while Minister of Housing Anthony “Boots” Martinez, Minister of Human Development Eden Martinez, Minister of Foreign Affairs and Attorney General Wilfred Elrington, and U.W.I. Director Jane Bennett will act as members. The Chamber of Commerce and N.T.U.C.B. will also nominate a person each to sit on the committee.
Posted By: Short

Re: GOB extortion ends in dismissal of charges - 09/05/08 05:40 PM

While the GOB lawyers tried to withdraw the charges in the harassment-lawsuits against Belize Bank and First Caribbean Bank, their attorneys did not agree. It is not surprising that after all the publicity and allegations against them, they wanted to see evidence and hear witnesses or to have the case dismissed. When the GOB lawyers didn't comply, the Magistrate decided to dismiss all charges by lack of evidence:

Originally Posted by Channel5
Charges against Banks dismissed for lack of evidence

[Linked Image] It's a formality to an announcement made at the last meeting of the House of Representatives, and today in Magistrates' Court the one hundred and thirteen charges of Failure to Report a Suspicious Transaction brought by the Financial Intelligence Unit against FirstCaribbean International Bank, were dismissed. But when the matter came up this morning, it was not without its share of drama. Attorney Marilyn Williams on behalf of the F.I.U. requested that charges be withdrawn, but Attorney for FirstCaribbean Derek Courtenay, did not agree. Courtenay submitted that a request was made for disclosure and the Chief Magistrate Margaret McKenzie had ordered that disclosure be provided by today, but neither he nor his client, have received the information. Courtenay also submitted that the matter has received a great deal of publicity and various allegations have been made against the bank and as far as he is aware, no deal had been worked out between FirstCaribbean and the F.I.U. Courtenay pointed out that the bank operates locally and internationally and that its business depended on its integrity and reputation. He felt that because the bank's reputation had already been damaged, in fairness to the bank, the charges should be dismissed instead of withdrawn. Courtenay called upon the prosecution to call its witnesses so that the Bank can defend its reputation and prove that it is not guilty. Magistrate Dorothy Flowers dismissed the charges. FirstCaribbean was also represented by Attorney Ellis Arnold. Seventy-nine charges for failure to disclose suspicious transactions brought against the Belize Bank were similarly dismissed yesterday for lack of evidence.
Posted By: Short

Re: Belize Bank Back in Court for Its $10 million - 09/26/08 08:21 AM

And now the Belize Banks is trying to get their money back from the GOB through court:

Originally Posted by 7 News Belize
Belize Bank Back in Court Arguing for Its $10 million
posted September 25, 2008

Government has the US$10 million Venezuelan money safe in hand, but the battle for its ownership continues, and like any good - or bad – love affair it ain’t over, till it’s over. And so the Belize Bank was back in court today arguing that it should get back the money or more, specifically, that the Central Bank had no right to direct the bank to return it to government.

The hearing was held this morning at the Supreme Court before the Central Bank and Financial Institutions Appeals Board in Justice Awich’s courtroom. The bank’s attorney Andrew Marshalleck argued that the Central Bank could not issue a directive telling the bank to return the money. And that’s because no determination had been made establishing that government was entitled to the money. A substantial point, but his was just a preliminary matter and the case will not be heard by the board until December. At that time it may or may not be open to the public and the press.
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