Posted: Sunday, September 20, 2020. 5:17 pm CST.
By BBN Staff: The two (2) year contract between Tropical Vision Ltd., more commonly known as Channel 7 in Belize, is under review says the BTL Board in a press release.
The Board notes that the two-year contract, signed in January 2020, was “brought to the attention of the Board of Directors recently”. It is alleged that the value of BTL’s advertising business with Channel 7 is as high as $15,000 per month, and according to News 5, it is also alleged that advance payments were made to Channel 7 under this contract.
In the press release, the BTL Board reiterates that it takes its fiduciary responsibility seriously and it will take necessary steps to “reconcile and rectify weaknesses” within the company.
An executive committee led by the newly appointed Chairman, Alan Slusher, is leading the investigation and review, and will provide “direct oversight and support to the management of the company” during the review process.
BTL was nationalized in 2009, and was mostly owned by the Government of Belize prior to Lord Michael Ashcroft acquiring majority shares. In his resignation letter, Net Vasquez notes that he has been the Chairman for 20 of the 32 years since the company was established.
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