Premier denies withholding Bank of Asia report findings
Premier Dr Natalio Wheatley.
Premier Dr Natalio Wheatley has denied accusations that he is withholding findings from an internal audit related to the collapse of Bank of Asia.
Dr Wheatley was questioned at a recent press conference over whether he had intentionally delayed releasing the report, which examines the circumstances surrounding the deposit of public funds into the now-defunct financial institution.
The reporter suggested the audit had been completed months earlier and asked whether the government was refusing to disclose its findings.
Premier Wheatley rejected that claim and disputed the timeline presented. “Six to seven months ago? I don’t think that’s the case,” Dr Wheatley said.
When pressed further about whether the report had been completed and was being withheld from the public, the Premier again denied the allegation.
“No, no, no. That’s not the case at all,” Dr Wheatley said.
He added that he would review earlier statements to verify when the report had been completed.
“I’ll go back and check what you stated in terms of when it was finished,” Wheatley said.
Wheatley also insisted that the government had no intention of concealing the report’s findings.
“But as I promised this time, of course, next press conference, we’ll say something about that report. I’m not withholding anything,” Dr Wheatley stated.
When asked whether the information could be released within a week, the Premier indicated that more time was needed before the report could be released.
“Let me talk through with the financial secretary because I don’t want to promise anything that’s not in alignment with the legislative process,” he stated.
Bank of Asia, which was licensed in the Virgin Islands in 2018, entered liquidation proceedings in 2024 after regulatory concerns emerged. The issue has remained a subject of public scrutiny, particularly after it was revealed that $5 million in public funds had been deposited into the bank before its collapse.
Questions about who authorised the deposit and what safeguards were in place have continued to surface as lawmakers and members of the public await the findings of the internal review.
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Why is the report taking so long to come to the public? I smell a rat. The Covid and other audits for the COI came out really fast but this one is taking almost a year. Is it even being done by the Auditor General?
well you know they dont like the poli.Auditor general lady because she dont play with them lol.
Don’t worry , the new 13 coming, as Sizzla says we taking. over , we have heard the people and their cries , yessir
DOA
Better the devils you know than those coming you don’t! With just about a year to go to elections what can these new candidates convince us to vote for them?
IT WAS 10 MILLION THE GOVERNMENT INVESTED, LETS SEE HOW ACCURATE THE REPORT REALLY IS.
As I’ve said before, and “audit” is a forensic accounting tool, whereas tracing these funds is merely a bookkeeping exercise and should have been completed within a week.
As for his “promise,” that’s just like the promise that the airport expansion project would not be greenlighted until the vaunted business case was completed and disclosed – and even though that has not happened, the project is now “full steam ahead” even though we have obtained no financial rationale for it.
Incomplete records, non cooperation with auditors , unable to comment due to possible “ even if it’s impossible because there’s no records or auditor cooperation “ police ongoing investigation, civil servants having retired or moved departments, numerous cases of amnesia ,plain dishonesty .
Above all the absolute conviction of those responsible guilty parties , that there will be no convictions because government deliberately underfunds both the audit/public prosecution departments of both talent and resources . A double sided thirty page report will eventually surface the conclusion of which will read “due to lack of proper procedures and record recording no verifiable information could be obtained” Government then claims no corruption here merely an unfortunate lack of judgment by an unnamed official.
Must be a mad man for sure..even Champy getting my X for sure not you or any of your crew.
Someone needs to go to Balo for this 5 million dollars!. If the Prem or his minions are so innocent why try so hard to go around the truth?. Protecting someone?
The more I listen to The Honourable Gentleman the less Trust I have in him or his party. There is no secret or silence when it comes to crime, if you wanted the report to be completed and scrutinized you would have advocated for that; its called ‘Good Governance’ my friend!
Our version of the TrumpEpstein files?
Independence them say