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Former BTL Chairman Nestor Vasquez racked up questionable personal expenses in excess of $850,000 using company’s funds

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Posted: Thursday, November 19, 2020. 10:34 am CST.

By BBN Staff: Former Chairman of the Board of Directors of Belize Telemedia Limited, Nestor Vasquez, owes the company some $859,197, reports Channel 5 News.

A leaked portion of the audit report notes that Vasquez accumulated over $684,000 worth of personal purchases on the company’s credit card, had over $122,000 worth of unpaid phone bills for his company Tropical Vision the parent company of Channel 7, had fuel charges above $29,000, and paid insurance premiums of over $22,000 with BTL’s money.

Vasquez reportedly made cash repayments of over $168,000 and further issued a contract with Channel 7 valued at over $336,000 to reduce the outstanding balance.

Vasquez resigned from his post when the issue was made public.

Following his resignation, Allan Slusher was appointed to lead the probe at B.T.L.

An audit is expected to follow.

 

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