And so that left it in the hands of the Social Security Board of Directors - which met this afternoon at Social Security's Belize City Office.
We knew the outcome would not be nice, because Chairman Lois Young has been vocal in her criticism of SSB staffers who used an inside advantage to qualify under the programme.
But what did her Board of Directors decide today?
They started meeting at 2:00 and we waylaid them outside the Board Meeting at SSB Headquarters in Belize City and when they emerged at 5:30 - here's what they had to say:
Lois Young - Chairperson, Belize Social Security Board
"Well, we had a long and thorough meeting, and we realize that we need to investigate further. We're going to have an investigation conducted independently of the Social Security Board, and in the meantime, we have suspended the Chief Executive Officer and the Internal Auditor for 2 week initially, and in any event, until the investigation is completed."
Rowland Park - Reporter Newspaper
"Who is going to conduct the investigation?"
Lois Young
"It will be an external - I won't say who it is, but it will be done externally, by an external body or entity. We will review it. We've got to interview more people in SSB ourselves, including the 2 officers who are suspension, and then come to a final decision."
Rowland Parks - The Reporter Newspaper
"Can you say what was the reason specifically why officers were suspended?"
Lois Young
"No, I won't say that here."
Geovanni Brackett - Plus TV
"Can you tell us at this time how many are staff of SSB who perfected the loan as a result of 'insider trading' knowledge? And also, have you all made any decision as to how you will deal with future 'insider trading'?"
Lois Young
"The external investigation will come up with a final figure on that question - exactly how many staff members are involved, and that is why I'm saying that this is just a preliminary step that we're taking. We have to be fair to everyone who is involved."
Alfonso Noble - The Guardian Newspaper
"How does this affect the write-off process?"
Lois Young
"That has nothing to do with us. That's a Government initiative. This is an internal matter to SSB, but SSB being a public body, I thought that I should just answer your questions."
Chairman Young called our office and stressed that the word suspension which she used is incorrect; the CEO and Internal Auditor have been placed on "administrative leave."
It's an absolutely withering blow to the reputation of CEO Merlene Bailey Martinez. While Chairman Young would not confirm that she did bring down her loan balance to get in on the programme - it is unlikely that such a stiff penalty - absolutely unheard of for a CEO - would have been meted out if she had not participated.
Our information says that her mortgage was in the 80 thousand dollar range and she made a loan to bring it down to fifty thousand dollars - reportedly as early as November, 2011 - when no public announcement had been made.
It comes as a shock to all involved as Bailey-Martinez - former chair of the DFC Commission of inquiry - had enjoyed an absolutely untainted reputation as a public official.
But, now she is under suspension and facing an internal inquiry...
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