Gov’t portfolio earned $2.89M despite Bank of Asia, Delta losses
The government’s investment portfolio generated an overall profit of nearly US$2.9 million between 2021 and 2026 despite losses arising from investments in Bank of Asia and Delta Capital Partners Limited, Premier Dr Natalio Wheatley has said.
In a statement on the unauthorised Delta Capital investment, Dr Wheatley acknowledged the losses but argued that the territory’s broader investment performance remained positive while authorities pursued investigations and recovery efforts.
“Notwithstanding any losses incurred, overall the government’s investment portfolio recorded positive growth between 2021 and 2026, earning the territory US$2,893,141.69 as of today,” Dr Wheatley stated.
The Premier said the government had launched recovery efforts in both cases. He said the Delta Capital investment was under investigation by the Financial Investigation Agency, while the Ministry of Finance and Treasury was attempting to recover any funds that might still be recoverable. He added that recovery efforts relating to Bank of Asia were continuing through the bank’s resolution process.
Strengthened framework
Dr Wheatley said the government had strengthened its investment framework following concerns raised over the Bank of Asia investment. Cabinet approved a Government Investment Policy on March 18, 2026 that complies with the Public Finance Management Act and establishes procedures for future public investments.
He also said he had requested reviews by the Deputy Governor, the Internal Audit Department and the Auditor General to determine whether public officers were culpable and to ensure accountability where wrongdoing was identified.
“As Minister of Finance, I will insist on accountability where any wrongdoing is found regarding these public investments, and that going forward all procedures and policies are followed under the now strengthened investment framework,” Premier Wheatley stated.
He added that the Internal Auditor’s report on the government’s Bank of Asia investment would be laid before the House of Assembly and said, “Rigorous due diligence, sound portfolio management, and proper approvals are the key to investing the public’s money with confidence.”
Full investigation
Meanwhile, Opposition Leader Marlon Penn disputed the Premier’s defence, arguing that the reported overall portfolio growth did not diminish concerns about governance and accountability. Penn questioned how the Delta Capital investment could have proceeded without ministerial approval, citing Section 25 of the Public Finance Management Act, which requires the Minister of Finance to approve investments from the Consolidated Fund.
“Are we expected to believe that two and a half million dollars walked out of the Consolidated Fund without the knowledge of the man whose signature, whose authority, whose legal duty it is to approve such transactions?” Penn asked.
Penn also said he would write to the Auditor General seeking what he described as “a full, independent, and exhaustive investigation” into the Delta Capital investment and the circumstances surrounding it.
The government has said investigations, audits and recovery efforts are continuing while disciplinary and accountability processes are allowed to run their course.
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This natalio is c**ning like fahie, he is telling us to look the other way as he mitigate and sanitize the stress the BVI is feeling about him as finance minister, if the FBI was to take this case, natalio gone to jail, from his protective pronouncements and the use of a retiree as the culprit I smell a rat, all this money disappearing and natalio don’t know, but when he want money to pay Vybz Kartel quarter million USD and other parties and travel he knows how to access the people taxes.
600,000 a year is that all !
Break even with the Jamaica deal, and 300% loss with that and BoA?
This is what we touting???
Again!!! Taking us for fools. The accounts were not audited in years !!! we aint no fool!! DO the darn auditing then come back to us. and tell us what it is year by year. Not what it is over the period 2021 to 2026. SLOWANDE!!! WE AIN’T FOOLS !!!!
Please resign before the “MARCH” is announced!!!!
we love to celebrate mediocrity
DO NOT LET THIS MAN MAMMAGUY YOU ALL R LET Lorna BAMBOOZLE YOU ALL . THEY NEED TO BE OFF THE DAMJOB
How much went out on borrowing.
There must be a full and transparent investigation into the Government’s entire investment portfolio and not just Delta Capital and Bank of Asia, but every investment, including those now being presented as profitable. The public deserves clarity on the whole picture, not selective disclosures.
Right now, it appears that when an investment fails, it is labelled “unauthorised” and the blame is conveniently placed on Ainsley; but when an investment turns a profit, there is silence and no scrutiny. That pattern raises legitimate concerns about governance, accountability, and whether losses are being isolated while gains are being celebrated without proper verification.
A comprehensive review is the only way to ensure transparency, completeness, and public confidence in how the territory’s money has been managed.
Isn’t Penn as the Leader of the Opposition, also the Chairman of the Public Accounts Committee?
MASTER WEATIE ~¿~ WHERE DID IT GO ? ? ? ? ENQUIRING MINDS WOULD LOVE TO KNOW / WOULD YOU BE KIND ENOUGH TO ENLIGHTEN US .
It took 2021-2026, nearly 5 years to make that money and 7.5mil disappeared in less than a year from each other. Maths aint mathing! Who cares what you made its what you retained is what counts my fren…
Sound like damage control after all the backlash