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Net Vasquez to “resign immediately” from chairmanship of Telemedia

Posted: Tuesday, September 15, 2020. 7:07 pm CST.

By Aaron Humes: Nestor Vasquez, embattled chairman of Belize Telemedia Limited, is to resign his post effective immediately.

We have seen a copy of his resignation letter, in which he states that he has informed Prime Minister Dean Barrow that he will step down ahead of his retirement in October.

Vasquez was being investigated by the Board of Directors of the company for multiple alleged breaches of company regulations.

These included improper usage of the company credit card; advance payment for advertising with his separately owned television station Tropical Vision Limited (Channel 7), and transferring a company asset, a vehicle, into his own name before passing it on to a non-employee of the company.

While Vasquez did not address the allegations directly, he committed to participating in an investigation of his actions “if requested.”

Vasquez, a chartered accountant, has built a long career in public service and business, including as member of the Integrity Commission since 2017, chair of the Investment Committee of the Social Security Board (SSB), and a director of Alba Petrocaribe Belize Limited (APBEL).

He did not indicate any intention to leave these positions, retirement not withstanding. But he has also acquired a reputation as an “insider” with the United Democratic Party, though he told us at the time of his Integrity Commission appointment that none of his appointments were as a direct adviser to the Government.

Vasquez gave thanks to his former colleagues for the opportunity to serve as company chairman for 20 of its 32 years of existence, back to its days as Belize Telecommunications Limited, in what he described as “a labour of love throughout the years.”


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