Governor asks Auditor General to probe Bank of Asia saga
Opposition Leader Myron Walwyn has confirmed that the government’s controversial $5 million deposit in the collapsed Bank of Asia is now under investigation by the Auditor General — a move he is convinced will deliver answers for the people of the Virgin Islands.
Walwyn, who recently wrote to Governor Daniel Pruce urging an immediate and independent investigation into the saga, said the Governor has responded and indicated that the matter is now in the Auditor General’s hands.
“The governor did respond to my letter and he did indicate to me that he asked the Auditor General to look into the matter. I was able to confirm with the Auditor General that she is in fact doing so,” Walwyn said at a press conference on August 14.
The confirmation comes amid mounting outrage over revelations that the government placed more than $5 million of taxpayers’ money in the bank shortly before it was put into provisional liquidation on May 28, 2025. The digital institution’s collapse has left the public’s funds unsecured and at risk of being lost entirely, with the BVI’s deposit insurance scheme only protecting up to US $100,000.
While noting that the Auditor General operates independently under the Audit Act and “cannot be directed,” Walwyn stressed that the investigation must be handled with the gravity it deserves.
“I do believe there’s a question to be asked, and I’m sure that she’ll properly direct her mind to it,” he said.
Walwyn has repeatedly blasted the government’s handling of the deposit, accusing Premier and Finance Minister Dr. Natalio Wheatley of trying to deflect responsibility onto public officers.
He has dismissed the Premier’s plan for an internal audit as inadequate, insisting that only a fully independent probe can uncover why the deposit was made at a time when Bank of Asia was already showing signs of distress.
The $5 million loss is more than just a financial setback. Critics warn that it risks undermining public trust, tarnishing the BVI’s reputation as a financial centre, and raising serious questions about governance, due diligence, and fiscal responsibility at the highest levels.
Members of the government have criticised Walwyn’s appeal to the Governor as unnecessary and politically motivated.
Junior Minister Lorna Smith has described the move as “a political show,” arguing that local accountability systems — including the Public Accounts Committee, internal audits, and the Auditor General’s own powers — are fully capable of handling the matter without colonial intervention. Other ministers have echoed the sentiment, saying there was “no need for the governor to get involved in our business.”
In the meantime, with the Auditor General now engaged, residents will be watching closely to see if the investigation will shed light on who authorised the deposit, whether any warnings were ignored, and if the people’s money can be recovered.
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THIS, is good news as to ascertain the cause of such a massive failure!
Let’s hope there are repercussions-punitive,criminal, or perhaps political, if sitting politicians, are found to be at fault!
They know exactly bwho authorized the deposit. But they are not going to tell you.
As for getting it back. When hell freezes over.
If the politicians are not at fault , then who is.?
No civil servant can take a decision to deposit $5 million in an iffy bank. And if they can we are in bigger trouble than I thought.
It was a politician. And one connected with finance you imagine. So that narrows the field. Now I would suspect that a junior minister would have to check out with a senior minister before being able to do something like this.
It’s not a huge suspect list Sherlock.
I see nothing wrong with the Premier’s internal audit nor the Auditor’s General audit for that matter.
In my view, they both can shed light on the events surrounding the $5 Million deposit to the Bank of Asia. One will be produced from within the government and the other from an independent body.
In my view, the most important questions that needs to be answered here relative to that deposit are:
1. The chain of events leading up to the deposit being made.
2. Who authorized the deposit?
3. If there was any nefarious intent relative to the deposit, and most importantly for me,
4. If the government had any prior knowledge of the financial condition of the bank that should have raised questions and caution prior to allow the deposit to go thru.
This may just be a case of someone sleeping at the wheel and not doing their homework or due diligence in vetting the current financial condition of the bank before authorizing and greenlighting the transfer of the money to the bank.
Now, after all these investigations are completed, I’m not sure much is going to come of it. Perhaps some political cost to be paid, but I don’t see much in the way of consequences because of the history of how these things are dealt with here.
I started out saying interesting because the irony of the Opposition Leader endorsing the Auditor’s General involvement in this matter cannot be missed.
The is the same Auditor General whose report on the high school wall led up to his eventual arrest and legal exposure which he eventually won in the court.
So the Office of the Auditor General that got him in trouble is the same office he now endorses to investigate the government, more specifically the Premier since he has the ultimate responsibility for the country’s finances.
I cannot help but ponder, is this political payback? We shall see how this all shakes out in due course.
The leader of the Opposition asked the governor to look into the issue surrounding the Bank of Asia. He did not request that the Auditor General be the responsible party who would look into it. This was the decision of the governor.
This is how misinformation gets decimated into the public.
No misinformation is being perpetuated.
Yes, he did not request the Auditor General to look into the matter on his own. The governor took that prudent step to refer the matter to the Auditor General which was the appropriate and right thing to do as the governor when such request comes from the Opposition Leader.
IMO, the governor had no choice than to take this action. Had he deny looking into the matter the Opposition Leader raised and queried would have on appearance to be partial to the government.
What I said was he endorsed what the Governor’s action, and even went further as per him to find out if indeed the Auditor General was on the case:
His quoted words were in fact:
“I was able to confirm with the Auditor General that she is in fact doing so.”
That’s where the irony comes in.
Those are the facts as we know them. No disinformation on my part as you allege.
Again, he has endorsed the same Auditor General whose report on the finances surrounding the high school wall got him in legal hot water.
@Interesting: why is it ironic he asked for an investigation (independent) into the circumstances of this failed bank and the timing of the $5mill deposit? You said because it was the same office that investigated the ESHS Wall project, it is interesting he would ask for the same office to investigate this SNAFU.
To me that shows maturity by Walwyn. Although the audit into the wall showed some issues and I recall there was/is a case making it’s way through the legal system. Nonetheless, Mr. Walwyn to me is showing he has faith that the Auditor General and team will be fair and partial in their investigations.
Not a trumped up internal audit that can be cooked anyhow to suit the poliburo narrative!
The internal audit is not made public.
@ intresting. You write a whole book and you did not understand a thing . I believe you eat your school fee .what Hon. Myron said he ask the Governor to investigate the saga and the Governor inform the Auditor to look into the said matter. Lord help us in this beautiful Virgin Islands.
You are funny. I think you got it wrong. You ate your school fees. Nothing I said is inconsistent with what you wrote.
Look, I get it. No matter what I say, some of you will see it another way because you minds are not open to other people’s opinion.
Many of you have expressed your displeasure with the current government, so anyone inclusive of myself who does not go along with your narrative and your view points you will oppose their views.
I stand by my words. I am unbothered by those who hit the dislike button. That’s child’s play. I said what I said. You are entitled to your opinion as I am.
Further shredding, while hiding behind our mate the court appointed liquidator. No names no pack drill. The games afoot!
Memories
We need to know what happened to our 5M. Period
Fraud of this level potentially by Government Ministers should surely be a Police matter by now.
Why can nobody in Government say who authorised the transfer of $5Million of public money to a bank. It should be the easiest most transparent question to answer. When it is to a bankrupt bank it is now a Police matter of the most urgency so that any evidence cannot be changed, removed or hidden.
We need Police and forensic accountants in there now to find out why there is no control of who is transfering the peoples money and who is in charge of giving the instructions.
This is now a crime scene.
At some who sucks a sour lemon, the wall is their as benefit to the country’s school.
Can you say the tax payers $5 million USD will be there for the tax payers now it has varnished?
For the small ignorant minority who supports the politicians move for independence ….. i hope them take yall money after independence and deposit it in their own account then yall wont have uk to blame smhh
did uk force pons liticia
It is interesting that Lorna says the Public Accounts committee is a useful accountability option when the Deputy Premier Fraser stated the following to the COI about the PAC.
“a) The functions of this Committee doesn’t pass the smell test on the surface, and neither is it
meant to address modern day occurrences.
b) Case in point, the Public Accounts Committee in the UK unlike ours, holds its hearings in
Public which in and of itself is a means of deterrent.
c) Also, our reporting method to the House of Assembly, which I have already concluded as
a flawed system, is asking the very Body responsible for the shortcomings discovered, to
do something about them. The Committee needs real power if it is supposed to be
meaningful.”
Fraser (Deputy Premier) does not consider the Public Accounts Committee to have any real power and PAC does not hold its hearings in public.
Police assisted by forensic accountants would be needed now as the Premier and Lorna (the people who should know) say that don’t know or are hiding who made the authorisations.
The PAC of the BVI is just another failed institution set up in these British Virgin Islands. A total waste of time.
and for the small ignorant minority that supports the politicians and their independence … after yall get independence i hope the politicians take your money out your account and deposit in their own scheme and lose it. then yall wont have UK to blame
i guess the uk force us to pay barges to patrol the waters
i guess uk force us to give out grants to fake fishers and fake farmers
i guess the uk tell us give out scholarships to fake students
i guess the uk telling us who to pay to fix our roads over and over
i guess the uk fault that we have government buildings still in shambles years after irma (2017) we in 2025 soon reach 2026
i guess the uk tell bvi which artist to bring festival to sing songs about sex,drugs,violence and gangs (look up mali don songs on youtube)
i guess uk tell the artist’s (more than one) them to big up a well known drugman on the stage in bvi more than once
i guess the UK tell politicans to take yall ssb money and build a housing project that no one but them and their family/friends can afford
i guess the uk tell politicians them to do the pier park scheme, eshs wall scheme, bvi airways scheme, bi water scheme, bank of asia scheme etc etc etc etc
i guess the uk instructed andrew to sell out bvi to drug kartels
i guess the uk tell the bvi to cut off water everyday after 6pm
i guess the uk tell bvi to run the lines on poles still despite being in a hurricane prone area
i guess the uk tell the politicians to raise their minimum wage to 7.50 with rent starting at 1500
i guess the uk tell bvi to put bare minimum in a price control while local markets make 700% record breaking profits year after year
I LIKE this motion but knowing our dpp smh wasted effort but is nice to see still
Who were the final recipients of this scam as if we don’t already know , you get the feeling that those who were responsible for deciding to send it were also at the final destination ready to personally receive it .
The UK’s history is one of invasion, exploitatioon, genocide, thieft and murder.
All of the developed countries, UK, US, EU, AUS and others specifically, have the same sordid historical past.
Hence, they are in no moral, ethical or human position to dictate to another country as to what curruption is or. how they should run their counry..
Downright corruption.
You think that the governor investigation can touch natalio? He is an American citizen, so trump can ask for his pardon. So bank of Asia will be swept under the carpet, you can’t handle an American citizen wrongly.
If it was Myron who do the bank of Asia deal his goose would have been cooked, because he is a BVI citizen of the soil.
While this investigation goes on am sure premiere natalio Wheatley will contact his American embassy for advise if he have to flee from prosecution.
SNICE YOU SEEMS VERY KNOWLEDGEABLE / SINCE HE WON HIS CASE THAT THE WIGGED ONE HAD ALREADY PLAYED JUDGE – JURY & EXECUTIONER ON HIM , AS IF HE STOLE THE MONEY . ( HOW WAS HE IN LEGAL HOT WATER ❓️ ) AND HOW COME THE THE GOVERNMENT ISN’T GOING AFTER THE PEOPLE WHO GOT PAID TO DO THE WALL FRIM TAXPAYERS MONEY , TO MSKE THRM EITHER FINISHED THE JOB OR REFUND THE TAXPAYERS MONEY , WOULD YOU BE KIND ENOUGH TO ENLIGHTENING US ON THAT PLEASE
Who or What is the Auditor General. Is it a person place or thing. Can this entity / individual
/ be identified to John Q public by name or location or is it an ethereal smoky cloud.
Every thingy in these VI is a BeeWeeCKrit.
Who or What is the Auditor General. Is it a person place or thing. Can this entity / individual
/ be identified to John Q public by name or location or is it an ethereal smoky cloud.
Every thingy in these VI is a BeeWeeCKrit.
Who or What is the Auditor General. Is it a person place or thing. Can this entity / individual
/ be identified to John Q public by name or location or is it an ethereal smoky cloud.
Every thingy in these VI is a BeeWeeCKrit.
Today, August 21st, I was sitting quietly at Home when a Thought came to Mind. Remember the Money that was unaccounted for during the Salary Increase for Civil Servants? was it 20K or 20Mil? Remember the Finance Secretary was out Sick during the same time for a while? (Not Blaming The Finance Secretary.)
So if the amount was 20 Mil, I am thinking okay so we know at least where the 5Mil went, which means We are Not just looking for the 5Mil. We are actually missing either 15Mil or 25Mil. I Don’t Know. It was just a Thought.
Can’t wait for the results!! Sonia Webster please start you campaign and get ready to run this country first woman premier!!