Last night we showed you that BTL's Board of Directors was at all times complicit with Head of Finance Gaspar Aguilar in changing money illegally on the parallel market. Now, Aguilar is using that proof to force BTL's to pay him all his benefits, even though $7.4 million is still in the breach. In his letter of termination, Chairman Keith Arnold told Aguilar that he was guilty of: "grave misconduct, dereliction of duty and gross lack of skill." And for that, Arnold instructed that his severance pay and notice pay were being forfeited.
Well, 6 weeks after that termination, Aguilar's attorney Ellis Arnold has written back to Arnold, making the point that Aguilar at all times acted on the directives of the board of management, which had been made aware of the risks of changing money on the parallel market. Because of this, Ellis Arnold argues that the dismissal was unlawful and unjustified.
Threatening substantial claims against BTL for wrongful termination, in his letter Ellis Arnold demands that Chairman Keith Arnold respond in 10 days. We'll wait and see how that goes.
