Former Executive of SIF, Daniel Cano, says he knew of Kenard Smart’s bribes but did not act

The scandal involving the Dangriga Municipal Market and employees of the Social Investment Fund continues to unravel. This afternoon, former executive director Daniel Cano faced the music and held a press conference to clear up a number of allegations made against him.  Cano was relieved of his duties on Tuesday in the wake of the major scandal that has shaken up the once-perceived aboveboard organization. Cano is in the eye of the storm because the contractor of the project, Kenard Smart, wrote to the Contractor General saying that he had delivered cash of ten thousand dollars in a black plastic bag to Cano. Cano took many questions, but he vehemently denies any involvement in financial misconduct.  According to the disgraced past executive, while there may have been some indiscretions on his part regarding the manner in which allegations of impropriety were handled, the claims have completely overshadowed the fact that there may not have been sufficient due diligence done on the part of the investors.

Daniel Cano, Former Exec. Dir., Social Investment Fund

Daniel Cano

“Over the past months, and particularly over the past week, countless allegations have been made about me, including involvement in bribery, extortion and corruption.  I have not commented on these allegations except to say that I did not receive anything from K&G Construction or Mr. Smart.  My statement now is to strongly reaffirm that I had no involvement in any acts of bribery, corruption, extortion or any such acts. I have no regrets or reservations with regards to my work relating to the Dangriga market.  It is truly unfortunate that losses have occurred to vendors and residents of Dangriga and our best was done to avoid this.  However, my role was to oversee the execution of a contract and where that contract was not being performed properly, to close it.  This is what was done and this is what I would do again [if] faced with the same decision. The allegations, the speculation have taken center stage but yet there are some questions that are not being asked.  Why didn’t the financiers analyze properly the risk to their investment?  Did they ever determine if the monies remaining in the project was enough to cover the expenses for the project, plus deliver the profit expected, plus cover all the fees that they incurred?  How was the financiers money being used?”