Premier orders probe into unauthorised Delta Capital investment
Premier Dr Natalio Wheatley has ordered multiple investigations into an unauthorised government investment in Delta Capital Partners Limited, saying the transaction breached the Public Finance Management Act and was made without his knowledge or approval.
In a public statement on Thursday, Dr Wheatley said the investment was carried out on behalf of the Government of the Virgin Islands by former Accountant General Arnold Ainsley without the ministerial approval required under the Public Finance Management Act.
“The Public Finance Management Act requires any investment of public funds to be approved by the Minister of Finance, and the investment made from the former Accountant General, Arnold Ainsley, in Delta Capital Ltd was made outside of my knowledge and approval. This is unacceptable,” Dr Wheatley stated.
The Premier said the Ministry of Finance officially brought the matter to his attention in April 2026 and investigations were underway “to identify how this violation occurred and to ensure it is not repeated moving forward,” Dr Wheatley stated.
Recovery efforts
He said the Financial Investigation Agency is investigating the Delta Capital investment to determine whether any wrongdoing occurred. He has also instructed the Internal Audit Department to investigate the unauthorised investment, while the Ministry of Finance and Treasury is pursuing recovery efforts should any of the funds be recoverable.
“There must be accountability for any wrongdoing, and I am making sure that the right steps are being taken to prevent this from happening again,” Premier Wheatley stated.
The Premier said the government had already strengthened its investment framework following issues identified in relation to Bank of Asia. He noted that Cabinet approved a comprehensive Government Investment Policy in March 2026 to ensure future public investments comply with the Public Finance Management Act.
He also disclosed that he had written to the Deputy Governor requesting a review of an Internal Audit report to determine whether any public officers bore responsibility for the identified deficiencies, while the Auditor General is preparing a report into the government’s investment in a certificate of deposit at Bank of Asia. Dr Wheatley said he would table the Internal Audit report on the Bank of Asia investment during the current sitting of the House of Assembly.
Independent investigation
Responding to the Premier’s statement, Opposition Leader Marlon Penn welcomed further scrutiny but argued that an independent investigation was necessary. Penn said he would write to the Auditor General requesting “a full, independent, and exhaustive investigation” into the Delta Capital investment and “every single circumstance surrounding it. Every signature. Every email. Every approval. Every failure,” Penn stated.
Penn also questioned whether the investment could have proceeded without ministerial approval, citing Section 25 of the Public Finance Management Act, and argued that the public deserved a full account of how the investment was authorised. He further called on those responsible to be held accountable, stating, “The time for excuses is over. The time for answers is now,” Penn stated.
Disciplinary authority
Premier Wheatley has maintained that disciplinary authority over public officers rests with the Governor, Deputy Governor and Public Service Commission where rules have been breached, but said the ongoing FIA investigation, audits and official reviews should be allowed to proceed.
“Let me be crystal clear: where there is clear evidence of any breach or failure to follow the Public Finance Management Act and its accompanying regulations, there must be action,” Dr Wheatley stated.
Separately, Delta Capital has become the subject of criminal proceedings in Jamaica arising from the wider collapse of the Jamaican wealth management and investment firm Stocks and Securities Limited (SSL).
Jamaican authorities have charged Delta Capital Partners Ltd, along with former SSL executives and Delta co-founder Zachary Harding, with alleged breaches of the Securities Act, Bank of Jamaica Act, Banking Services Act, Companies Act and Larceny Act following a joint investigation by the Financial Investigations Division (FID), the Jamaica Constabulary Force and other agencies. The matters remain before the courts and have not been determined.
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This premiere have got to be in on the takes in both bank of Asia and now this Jamaican company, he protecting himself and accomplice by saying that he will do internal investigation that only recommend different ways of taking the people’s money, no one will be held accountable and he has a retired scape goat to beat up on, if this was st Thomas it would have been federal investigation and jail work, one of our own sister from the BVI went jail for conspiring with police commissioner to defraud the state, you listen natalio when he speak, he is sanitizing and hiding the truth, we can remember when Andrew fahie use to get down on his knees, natalio was his right hand and has that same propensity to lie and fool the people.this poor guy ainsely I wonder how much he is paid to take the rap, not because he is on pension if this was the usvi they would a haul him to jail.
I always assumed the country’s finances had safeguards. If a bank employee tried to move $2.5 million without the required approvals, alarms would be going off all over the place. So how is it possible for public funds to be invested without the knowledge or approval of the minister of finance? Surely a transaction of that size should trigger multiple checks, warnings, and authorisations long before a year passes.
What also troubles me is the suggestion that investigators are trying to determine whether any wrongdoing occurred. If approval was required but not obtained, and taxpayers’ money was invested outside of the established process, shouldn’t that alone constitute a serious breach?
Even more frustrating is that this is not an isolated incident. We’ve already seen the Bank of Asia $5 million deposit fiasco, the $7.2 million BVI Airways deal, and other examples of public funds being wasted, mishandled, or put at risk. The pattern is all too familiar: money is lost, investigations are launched, reports are commissioned, and promises of accountability are made.
At some point, the public deserves more than investigations. We deserve answers. We deserve accountability. Most of all, we deserve to know who failed in their duty to protect the people’s money and what will be done to ensure this never happens again.
Because if the government can identify an overdue tax payment almost immediately, surely a $2.5 million transaction involving public funds should trigger more than silence for an entire year.
This is about ultimate responsibility. Responsibility can delegated but it cannot be delegated away. There is a fiduciary responsibility in effectively managing the public purse. Did the BVI learn anything from the financial mistakes, failures of the past. For example, under a previous administration, $7.2M took flight/took off and has not landed as yet. Government should have learnt, and capitalize on that flight of $7.2M. Words and threats are one thing but as another blogger like to say words in action is the real deal. If the report is true, what would have embolden a subordinate to investment $2.5M of taxpayers money without supposedly, presumably senior leadership, FS, the Big Dog, etc. not knowing.
The HoA is the legislative body and needs to legislate stronger policies on financial management. The HoA needs to be more engaged than appropriate an operations and maintenance budget, it must approve expenditures above a specic dollar dollar value. The Minister of Finance needs to get more hands on in financial management. Minister of Finance is more than a BIG TITLE. One has to do the work. It is not a responsibility where one just trust but must trust but verify. This responsibility needs leading indicator management. Audits are important, critical, vital,,etc, but auditing after the goat bolted from the pen is lagging indicator . More proactive action is needed. The Minister of Finance can work quietly but must walk with a BIG guava stick. Is the A. General still on the job, pending the investigation? If no, let’s get serious.
Does it seem like the whole financial system needs revamping with stronger, effective, etc checks and balances, real consequences for violating the rules.
A former FS served time; maybe it’s time for a Minister. That might curtail some of the behaviors.
Note with the plane that the BVI Government win the case. No Minister of Government was found of any wrong doing. Bad investment
@@Raw, Unfiltered and Unvarnished, ok, the government won the case presumably. Where is the plane or the $7.2M with interest? If the VI recovered the plane, when is it going to take flight and to where? Where can I book a flight? Can the $7.2M be dedicated to fix potholes or improve TBLIA land side? Let’s stop the nonsense, pissing on people and telling them it is raining.
The point is that it was a bad investment, no wrong doing by any Minister or staff. The government won the case.
Big woop, so they won! What did the people get for the government’s “big win”?
The VIP, including Natalie, were so busy talking about the plane money and trying to turn the people against NDP that they did nothing to prevent it happening again. Their focus was on politics and not the safeguarding the taxpayers dollars. It has now happened under their watch and not a peep from them and their people. When you did a hole, dig two! VIP must go!!
Your cousin, sorry, the FS is who gave authority. Y’all like to make innocent people scapegoats for corruption y’all orchestrated and have COMPLETE knowledge of. How the Financial Secretary unaware of everything so? Ayo fooling who ayo could fool.
The premier must think we are fools either he is on the take for these losses or he is incompetent, how could he as the minister of finance not know that millions of dollars are being moved around
Yeaa. All the time. I don’t know why he think we are fools. This calls for a complete investigation. We don’t want to hear he alone. We need to hear from the FS and from Mr. Ainsley himself. Call back Hickinbottom to question their behinds. In the public view LIVE AND DIRECT. By the way tell Hickinbottom we want recommendations of Charges to be procured and jail times.
The blaming Game ..
the Financial secretary slack as dust , he most go.
The Premier won’t be aware of everything that happens , people responsible to inform him of anything suspicious..
The accountant general can’t spend monies that are not under his/her books of accounts. Premier you need to come better then this. He was a straight thorough man. It can’t be the former Accountant General.
This man probing himself? He is some kind wonderful. If not alerting or involving the government of the procedures not breach of trust then there is not a bull in Texas. Bull Nonsense, So Lavity Used to say
If the barn is raided while the security guard sleeps on duty, the guard cannot wash his hands of the affair. The trespasser may have committed the act, but the guard’s negligence is woven into the transgression itself. In public finance, as in security, a breach is never solely about who acted improperly. It is equally about who failed to act when vigilance was required.
Ayo dig ah hole for the NDP by electing and then re-electing this VIP Government.
But……..
“this one is true, when you dig ah hole, dig two”
Except the majority did not vote to re-elect the VIP government. Lorna made the switch. Lest we forget. This publicity stunt to deflect from the fact that this guy either knew or is wholly incompetent is just ridiculous.
Clearly if a $2.5m payment can be made without approval then hundreds of smaller (yet significant) payments have already been made and lost in the system.
Corruption, corruption and theft!
Anywhere else a minister would have to resign this portfolio but not in the BVI, we just carry on as usual and make excuses.
Then, if idiots can make 2.9M magine how good things would be with competent people.
ALL13MUSTGO
Let’s be honest, Sowande, you’re the MoF. You get the statements of expenditures that exceed a certain dollar amount. The FS and DFS are above the AG too; they would have seen that investment and signed off on it. You can’t lose 7.5 million dollars in the last 2 years and expect to remain Minister of Finance. Please step down gracefully; this is not the job for you. If you was the Governor of the USVI, you would be preparing to spend 15-20 years in prison.
#DraintheSwamp
#MakeBVIGreatAgain
#All13MustGo
#CallaCOI
#SirHitchbottom
#StepDown
The only thing I can say is JUDGEMENT.
THAT NAT-AL-EO BOUGHT THE SERVICES OF WIGGIE THE WIGGED ONE TO EMBELISH THE CORRUPTION BY USING HIS USUAL RACIST NARRATIVES ON THE WHITE COLONISTS SLAVE MASTERS IS THE CAUSE ? WELL WE ALL ARE WAITING TO SEE HOW HE’S GONNA PULL THIS ONE OFF / AND IN THE MEANTIME WE ARE ALSO WAITING ON CSC WHO’S ALWAYS YAPPING & YAPPING ON EVERYTHING , TO ELABORATE ON THIS FIASCO THAT HAS BEEN EXPOSED ~ HONEST SPEAKING / LOOKS LIKE HE IS UNAWARE TOO ●¿● OR GOT A SUDDEN SPELL OF AMNESIA
Mr Premier, too much travelling, ‘ When the cat is away, the mice will play, a million dollars all day.
Master WEATIE, Is saying )> YA’AL don’t have to worry ,am gonna do my own internal invitations for myself on myself, you know how we rool ~ so my people “RIP” ah got this •
Cap!
Premiere covering up areas of this Jamaican company money fiasco, I am covering the trail to divert away from the governor doing any real investigation that can get me in jail, I saw what happened to Andrew fahie, hey my adviser w and Claude done tell me what to do to hide this one, at least it ain’t Myron the opposition leader because he don’t make joke when it comes to the BVI people rights.
No way should you be allowed to investigate yourself, anyone with half a brain knows that an independent investigation is required.
I beg the former Accountant General to hold who is calling his name personally responsible, please and not the Government of the Virgin Islands. The people of this country are suffering hardship due to this VIP Government being in charge of our country and Treasury. We should not be punished for their ugly missteps. Sue whoever calls your name. Trust me they can pay. They are all millionaires now and haven’t done anything sensible for this country since being elected. Eight years and we have gone to the dogs. Better days are coming, by and by. People cannot with good conscience vote for this kind of foolishness to continue.
This VIP Government Is Very Keen On Being Reactive.
People Of this territory Can Not Be So Dumb As To Re- Elect VIP In The Next General Elections. Eight Of Them MUST GO!!!! This VIP Government MUST NEVER Be Re-Elected Into The HOA. NEVER, EVER, We Need The Order In Council To Be RE-Instituted Forthwith.