| Espat Building - To house Ashcroft company |
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The edifice which is owned by persons identified as Espats is nearing completion, and the Guardian understands that as soon as work is completed, the building will be occupied by an Ashcroft related offshoot company of British Caribbean Bank- the Group Risk Unit (GRU). The Unit as we understand it is headed by Filippo Alario and has as members of the unit Martin Marshalleck, Thomas Tillett and Mario Sabido. The role of the GRU is to assess risk for clients of the British Caribbean Bank or Belize Bank. Our information indicates that the focus will be on business accounts which are delinquent, nearing delinquency and non-performing. We understand that the unit will maintain strict vigilance over business accounts in an effort to keep a tight grip on economic activity by the clients who fall under the purview of the GRU.The intention, as we understand it, is to minimize economic maneuverability of the businesses to stifle business through increases in interest rates whenever clients become delinquent. By our guessing, the move is being done to constrict economic activity (at least within the Belize Bank) and to send those ripple effects into the Belizean economy. This is typical maneuverings of the lord who will go to any lengths to try and discredit the current government. His methods are legendary and he hopes this move will see him force the government to his will. While the GRU’s role is interesting enough, what is more so is the fact that the operations will be held in a building that has been registered as an Export Processing Zone. This means that the building or whoever occupies it will enjoy tax-free status. This status is one where the lord is most comfortable in and if our information is right, he again will be enjoying tax status for a new venture. A quick check with the Belize City Council indicates that the building or its occupant(s) will not be subject to property tax or trade license tax. EPZ’s in general are also not subject to any other form of taxation including business tax. It is uncertain when the owners of the DTRE Investment Company managed to secure an EPZ status for the building, but it is noteworthy that one of the key players in the building is identified as Saint Mark. Notably, this is one of the persons who staunchly criticized the former leader of the PUP as being a mere PUP-pet of the lord. It’s the most poignant changes of fortunes that it is the very critic of the lord who now has turned out to be ‘bought and paid for’ by the man whom he once criticized. |
Reports reaching the Guardian Newspaper indicate that an EPZ building located at number 70 Regent Street registered to DTRE Investment Company Limited will be housing operations for an offshoot company of the British Caribbean Bank.