Britsh press on feeding frenzy in Belize

He
is a man who is no stranger to controversy, and whether the story

plays out in the media of London, New York or Belize City it usually

revolves around the relationship between money and power. The man of

course is Michael Ashcroft and while this alleged billionaire ­whether
in Belize dollars, U.S. dollars or British pounds ­is the richest
citizen of this not-so-rich country, most Belizeans have come to accept
him as part of the local scene. But the latest storm, which has sent a
raft of British reporters to our own shores, does not have its origins
in Ashcroft’s activities in Belize. It is a controversy over his
dual role as the treasurer of Great Britain’s Conservative Party
as well as its allegedly greatest benefactor. By Belize’s political
standards the story would be a good cure for insomnia, but apparently
it’s hot news across the Atlantic. Unable to gain access to the globe
trotting businessman in London the journalists have fanned out across
Belize in search of anyone with an opinion, preferably negative, on the
elusive

Mr. A. At this station we have known Michael Ashcroft for many years and
in fact were it not for his minority investment in this company some eight
years ago, you probably would not be watching this broadcast tonight.
So while our opinion may not be without bias, our access to the man of
the hour is no greater than anybody else’s. And while we can’t
give you Ashcroft’s personal reaction to the media blitz we can offer
an exclusive interview. The fact that it was recorded twelve years ago,
should only add to the mystique. Viewers are reminded that both Ashcroft
and interviewer Ernesto Vasquez are substantially wealthier and better
looking today than in 1987 when they got together for a chat on the program
“Belize All Over.”

Michael Ashcroft, October, 1987

”I came here in 1953 and attended St. Catherine’s School.
My father

was in the Audit Department here in Belize and left in 1956.  And
over

the years, thought a considerably amount about Belize and a few years
ago I found an old autograph book that had been signed by everyone in
my class at school and I intended to come back and see if I could look
up some old friends.  And that I did a couple of years ago, and including
within my classmates were people well known locally like Barry Bowen,
John Waight from the hospital. I had a very good reception, found friendliness,
felt at home and decided that I would like to invest in Belize, help Belize
and became a Belizean.  Before the bank the government had asked
me to become the trade and investment advisor to the high commission in
Belize and I have been fulfilling that role in trying to find people who
wish to invest Belize or helping with any of the problems of Belize. 
And on one of my trips to Belize the consortium who were attempting buy
the Royal Bank of Canada had a discussion with me asked if I were able
to help or participate.  I was delighted to do so, delighted to spearhead
the first Belizean bank. It was hard negotiations but we brought the bank
home and it’s developing and prospering very well."

Ernesto Vasquez

“Why is Michael  Ashcroft so interested in investing in little
Belize?

Is this beside your human interest in the country and the childhood

days?  I would believe there would be more than that, maybe you see
a

bright future for the country?”

Michael Ashcroft

”It’s part of what you just said, but it’s also part
of a belief that

there is a strong and positive future in Belize.  And if by my

participation as an international businessman it can encourage others
to look at and invest and develop with Belize then I’d be very pleased

indeed.  I left school at eighteen and went on a two-year very

comprehensive course in the United Kingdom then I went and joined a large
multi-national and gained experience in all aspects of production,marketing,
sales and finance.  And I remained working for other people until
I was twenty-six and then felt that I had some of the basic skills and
started my own business.  But the message is work hard and you’ll
find the harder you work, the luckier you get.”

Recently the company Ashcroft heads, formerly BHI or Belize Holdings,
sold off its smaller investments in Belize, including the Radisson Hotel,
Johnston Construction and a minority stake in Channel 5. It has retained
its highly profitable shares in the Belize Bank and BTL.