Allegations of extortion are being made against employees of the Social Investment Fund, SIF. Now while these allegations are just surfacing, Love News has obtained documents indicating that these allegations have been occurring since 2009. But first we’ll tell you how the allegations surfaced. The Social Investment Fund, through its Belize Municipal Development Project is funding the Dangriga Market Extension and the Renovation Project to the tune of exactly, one million three hundred and seventy thousand- three hundred and forty nine dollars and fifty cents. The project was to be completed in July of this year. SIF terminated the contractor, Kenard Smart of K&G Limited, contract. In the process, two financiers are worried that their accumulated hundreds of thousands of dollars were lost. Today, those financiers launched a lawsuit against Smart and the Social Investment Fund.
HIPOLITO NOVELO REPORTING
“The contract to realize the Dangriga Market Extension and Renovation Project at a cost of one point three million dollars was awarded to Kenard Smart, Principal of K&G Ltd. The Social Investment Fund is financing the project but recently terminated Smart’s contract after it appeared that the project was not progressing as expected. After experiencing financial woes, Smart, sought monetary assistance from developers Lyndon Bailey and Emy Ramirez. They invested hundreds of thousands of dollars which they now regret.
LYNDON BAILEY
“I want to say for the record, Mr. Smart should never been overpaid that SIF would have to use our money to fill the gap of the money shortage; so, right now when you look at SIF paperwork, it looks good but we are out three hundred and add thousand dollars; where is our money? This is what I am asking Mr. Cano and those who work at SIF. We didn’t put our money in Mr. Smart’s hands; we went and purchased materials and we didn’t just come to this job by Mr. Smart; we made sure that SIF approved us under the contract; so, I am not someone that SIF could just throw away.”
EMY RAMIREZ
“We have injected over five hundred thousand dollars plus one hundred and thirty seven thousand dollars that was held with the bank for a bond. If they don’t resolve things and pay damages that are incurred surely, we would have to press legal action. I have a contract with Smart and also SIF acknowledged it because there has been communication with SIF and Mr. Smart and there is documentation to prove it. The works here have not halted and the work continues.”
HIPOLITO NOVELO
“Determined to get their money back, both Bailey and Ramirez hired Audrey Matura Shepherd as their lawyer. This afternoon, Matura-Shepherd served the Executive Director of SIF, Daniel Cano, with papers. The matter will now proceed before the courts. But what may have caused, Smart to lose financial focus on the project. Well according to an email dating February 21, 2013, sent by Smart to the Contractor General, Smart writes quote, “more evidence to show that between 2009 and 2012 that at least four SIF Staff and their managing director have extorted me or shake me down if I did not want to pay the monies requested from me”, end of quote. The email further lists the employees involving in the alleged extortion along with the sum of money allegedly paid to each one of them. One of those persons is the Executive Director of SIF, Daniel Cano. Cano responded to the allegations and says that an investigation has been launched into the matter.”
DANIEL CANO
“I am aware of the allegations and it’s something very serious that has been alleged and it will certainly impact people’s careers and the image of SIF and it is something that already an investigation has started by an entity outside of SIF, the Office of the Contractor General and am sure that if any wrong doing is found that will be dealt with as it should be. A number of allegations are being made and those need to be investigated fully. On my personal basis, am not speaking on behalf of SIF or anything, yes, I fully deny having received anything from Smart.”
HIPOLITO NOVELO
“Over seven hundred thousand dollars is left from the project’s fund and according to a letter sent to Ramirez, states that quote, “A substantial payment to Mrs. Ramirez is expected shortly for a payment application,” end of quote.