Premier Orders Multiple Investigations into Unlawful Government Investment Under Public Finance Management Act

British Virgin Islands Premier and Minister of Finance Dr. Natalio Wheatley has ordered multiple investigations into an unauthorized government investment in Delta Capital Partners Limited, stating the transaction violated the Public Finance Management Act and was executed without his knowledge or approval.
The Premier indicated in a public statement that the investment was carried out by the former Accountant General, Arnold Ainsley, on behalf of the Government of the Virgin Islands. Wheatley emphasized that the law mandates ministerial authorization for any public fund investment, and this breach is unacceptable.
According to the Premier, the Ministry of Finance formally alerted him to the matter in April 2026. He subsequently directed immediate probes to determine how the violation occurred and to implement measures preventing recurrence. “There must be accountability for any wrongdoing, and I am ensuring the right steps are taken to prevent this from happening again,” Wheatley stated.
The Financial Investigation Agency (FIA) is conducting a criminal investigation to assess potential misconduct related to the Delta Capital Ltd investment. Concurrently, the Internal Audit Department and the Ministry of Finance and Treasury have been tasked with their own inquiries and pursuing fund recovery, respectively.
The Premier also tasked the Deputy Governor with reviewing an Internal Audit report to identify any public officials deficient in their oversight roles. Furthermore, he mentioned that the Auditor General is preparing a report on a previous government investment in Bank of Asia, which he plans to present to the House of Assembly.
Opposition Leader Marlon Penn welcomed the move but advocated for broader scrutiny. He intends to request a comprehensive, independent investigation from the Auditor General, covering all aspects of the Delta Capital transaction, including decision-making and approval failures.

Source: Read the original report