Penn: Heads Must Roll Over $7.5M
Opposition Leader Marlon Penn is demanding legal accountability after identifying about $7.5 million in government investment losses, calling for prosecutions rather than internal reviews. He has asked the Auditor General for a full independent probe and says the Premier must be held ultimately responsible under the Public Finance Management Act.
Opposition Leader Marlon Penn has called for urgent legal action after revealing what he says amounts to roughly $7.5 million in losses from government investments, insisting those responsible must face the full force of the law rather than quiet internal reviews. In a written statement made public, Penn said the total includes a $2.5 million loss tied to an investment in Jamaican firm Delta Capital Partners Limited and a previously reported $5 million deposit in Bank of Asia (BVI), which has been flagged for liquidation in 2025.
He accused the Virgin Islands Party administration of "incompetence, negligence and mismanagement." Penn rejected Premier Dr Natalio Wheatley’s explanation that he was unaware of the Delta Capital transaction. The Opposition Leader pointed to the Public Finance Management Act, arguing the Minister of Finance must approve investments from the Consolidated Fund and that the Premier is therefore ultimately accountable. "Convenient ignorance is not a defence.
It is a confession," Penn said. "Heads must roll. Those who authorised these losses, those who signed off on these reckless gambles, those who sat in silence while millions disappeared—they must be brought to account. Not with a slap on the wrist, not with a quiet internal review, but with the full, unyielding force of the law." As chairman of the Public Accounts Committee, Penn announced he will write to the Auditor General requesting a full, independent investigation into the Delta Capital investment.
He said the probe should examine "every approval, signature, email and decision" connected to the transaction. Penn also accused the government of avoiding scrutiny in the House of Assembly, saying officials have failed to answer questions for nearly a year. He argued the episode reflects the same culture of weak accountability previously highlighted by the Commission of Inquiry.
Premier Wheatley has maintained the investments occurred without his knowledge. He said an internal review found the $5 million Bank of Asia deposit was authorised by the former Accountant General rather than by elected officials, and reiterated that he was unaware of the $2.5 million Delta Capital deal.
The Premier has pledged further investigations into how the transaction occurred. For residents of the British Virgin Islands, the controversy raises questions about oversight of public funds and the checks and balances that protect the Consolidated Fund. The Auditor General's response and any subsequent action will be watched closely for signs of recovery, accountability and possible policy changes to prevent similar losses in future.
Primary source: BVI News