Intelco: documents are “grossly inaccurate; outright forgeries”
In the midst of a media storm of questions surrounding its loans and alleged involvement with millions of dollars of Social Security money, Intelco has remained silent…until now. Through a press release issued today, the company says “the reports that have been circulating have become so fanciful and so far removed from the truth that the Board of directors decided that it was necessary to make public” certain facts. And according to Intelco, those facts are:
1. All the reports and “documents” that are being circulated are either grossly inaccurate or outright forgeries. None of them have been signed or approved by any member of our board.
2. No Social Security or government funds are at risk. In fact, Intelco?s account with the Government of Belize shows a balance in favour of Intelco and payments made by the Social Security Board on behalf of related companies are fully secured.
The press release goes on to confirm that Intelco is currently in “confidential negotiations” to sell out and while it does not name the buyer or buyers, maintains that they expect to complete the sale of the telecommunications company by the end of the month. And while Intelco isn?t naming names, most fingers are pointing towards Jeffery Prosser, whose company; Innovative Communication Corporation bought Belize Telecommunications Limited earlier this year, as the most probable purchaser. The Board of Directors for Intelco says it will publicize the details of its contract with the new owners, right after everybody signs on the dotted line.
But while Intelco used big words to lash out at the press and dismiss the documents floating around town this week, their release with its limited details regarding its financial dealings with the Government of Belize and the Belize Social Security Board, did little to erase that hauntingly long list of big numbers. Especially since the Opposition United Democratic Party maintains that, the document is authentic and thereby proof that G.O.B. and S.S.B. are the guarantors of more than fifty-one million U.S. dollars of debt racked up by Intelco.
Chairman of Intelco?s Board of Directors is Belize City businessman and former People?s United Party minister, Glenn Godfrey.
