Tonight Channel 7 owner and BTL Chairman Nestor Vasquez is in perilous waters at BTL - the company he privatised in the late 1980's.
Vasquez, who has been chairman of the company for most of its 32 years history is accused of abusing BTL's corporate credit card.
A late evening release from BTL says, quote, "As soon as the Board of Belize Telemedia Limited became aware of allegations of irregularities in relation to the use of the company credit card by the Chairman of the Board, a comprehensive investigation was launched.
The Board assures the shareholders, employees, and general public that appropriate action will be taken to safeguard and protect the interest of BTL." End quote.
The board met in an emergency session today and a decision is expected shortly - which may include Vasquez stepping down as Chairman. BTL's board is also reviewing an advertising contract that Channel 7 has with BTL - since Nestor Vasquez is the owner of Channel 7. We'll keep following the story.
