Just by selling Belize Bank, Ashcroft has not left Belize or put his corrupt practices behind him.
Belize Bank was the focus of the creation of the country's notorious offshore financial centre by giving rich tax exiles from the UK and the US as well as drugs traffickers a chance to deposit their money with no questions asked. Thanks to Ashcroft, Belize's offshore sector was criticised by the G7, the OECD and the US Drug Enforcement Agency. Nevertheless, the sale of Belize Bank does not mean the end of the Ashcroft empire in Belize.
Ashcroft's extensive business interests in Belize are inseparable from the country's political and economic fabric; he even serves as the country's ambassador to the UN. Moreover, the criticism from international agencies has largely focussed on sectors which are dominated by Ashcroft's businesses and so any tightening of the regulatory framework is bound to impinge on his little empire.
While pursuing his business interests, Ashcroft has ploughed large sums of money into the ruling People's United Party (PUP). Local newspapers and the opposition United Democratic Party (UDP) allege that he has organised his own faction within the party's power structures. They claim it is part of a ploy to counter the power of arch-business rival and former PUP minister Glenn Godfrey, who is challenging Ashcroft-owned Belize Telecommunications Limited (BTL) over its monopoly status. Godfrey, owner of Business Machines and Solutions Limited (BMSL) and Datapro, is taking part in the bidding for a contract to run Belize's telephone utility and telecommunications monopoly which is up for renewal at the end of 2001. BTL's contract has earned Ashcroft considerable profits with $80 million in annual turn-over and a 49.6 per cent profit margin in 1999, which many in Belize consider excessive, particularly given the company's high phone rates. The provisions of the concession have also attracted criticism from economic liberalisers who claim it encourages monopolisation and there are calls to break up the licence and introduce greater competition.
The issue has divided the PUP between pro-Ashcroft and pro-Godfrey factions. Although the party leadership appears to be wavering towards Godfrey due to punitive BTL charges, it may patch up a compromise between the two behind closed doors, in order to maintain party unity and political stability.
With the BTL concession sown up and control of the PUP, Ashcroft's corrupt influence in Belize is likely to continue. No doubt the inheritor of the Tory Party crown will continue to accept money from the Baron of Belize who has bankrolled the party to the tune of 10 per cent of its total income since 1997. As such, his corrupting influence in Belize and the UK will not diminish - and the plutocrat will continue to be a friend of the tax-dodging rich.

For some good commentary on Belize news, go to:
 http://www.belizemall.com/amandala/