Osmond Martinez’s Role in What Smells Like a Political Laundering Scheme

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By: Omar Silva I Editor/Publisher

National Perspective Belize | Digital 2025

www.nationalperspectivebz.com

BELIZE CITY— Wednesday 4th June 2025

In a democracy, the first rule of public finance is this: Follow the money. But when $283,000 of taxpayer funds flow through a rural credit union in Toledo without a verified source, signed contracts, or the bare minimum of compliance oversight, the only thing that follows is the stench of corruption.

And that stench now trails none other than Minister of State for Foreign Trade, Osmond Martinez, the former CEO of the Ministry of Economic Development, who signed at least one of the now-flagged contracts. The money, which was quietly funneled through the Bella Vista Branch of the Toledo Teachers Credit Union (TTCU), went to companies linked to Martinez’s political ally and close associate, Jose Felipe Flores.

The Credit Union’s General Manager, Leopoldo Romero, didn’t mince words:

“The source of funds was incomplete… We had to cut off business with them… We sent the money back to the treasury.”

Why? Because the deposits—some of which were nearly $50,000—lacked verifiable contracts, legitimate sign-offs, and, in some cases, even real business addresses. The compliance officer flagged them. The branch manager colluded. The accounts were closed. And the fallout, still unfolding, has exposed a state-enabled laundering mechanism wrapped in political nepotism.

Political Contracts or Payoffs?

What makes this more sinister than a paperwork mishap is the cozy proximity between Osmond Martinez and contractor Jose Felipe Flores, whose companies—Savannah, Express, and Allan’s Construction—received multiple contracts over a span of months. Flores didn’t just win public tenders. He remodeled Martinez’s office in Belmopan. He attended Martinez’s political swearing-in. He is, by Martinez’s own words, a friend.

So why is the same friend receiving contracts in the shadow of failed documentation, unsigned contracts, and credit union compliance violations?

From "Good Friend" to "Judas"

When asked to account for these glaring failures, Martinez lashed out—not at the system, not at corruption, but at his “friend” Romero, likening him to Judas. A biblical betrayal? No. Just a desperate deflection.

Martinez claims he sent the contracts. Romero says he never received them. The Financial Secretary, according to Martinez, was “out of office” for nearly a year—conveniently delaying the release of the source of funds documentation. Even now, weeks after the scandal broke, the promised documents have not arrived.

The Laws Being Danced Around

Let’s be clear. Section 3 of the Money Laundering and Terrorism (Prevention) Act requires all institutions to verify the source of significant funds. The TTCU didn’t. The Ministry of Finance didn’t. And Martinez, whether intentionally or negligently, signed contracts with no official letterhead, no contractor general’s approval, and no public transparency.

The fact that the TTCU wasn’t fined the minimum $200,000 penalty speaks volumes—either the watchdogs are asleep or they’re selectively blind.

The Bigger Picture: A Political Laundromat

The true danger here is not just the misuse of funds. It’s the blueprint this creates for future corruption:

• Pick a loyal contractor.
• Sign off under $50,000 to avoid scrutiny.
• Bypass procurement protocols.
• Funnel it through a pliant credit union.
• Feign ignorance when caught.

It’s not just corruption—it’s state-enabled laundering under the guise of local development.

Final Word: Smells Like Rot, Walks Like Graft

This isn’t just a “mix-up” or “delayed email.” It’s a systemic abuse of public trust. And the Prime Minister’s silence only amplifies it. Where is the Central Bank? Where is the Financial Intelligence Unit? Where is the Auditor General?

If the Briceño Administration believes it can survive this on bluster and biblical allegories, it underestimates the anger of a public tired of kickbacks, cover-ups, and political deceit.

This must not end in another shrugged-off scandal. It must end with accountability. And if not in the courts, then at the ballot box.

National Perspective Belize will continue to pursue the truth—and shine light into every corner where public money is made to vanish.

🟦 #LaunderedVotes

🟥 #StateOfCorruption

🟩 #FollowTheFunds