Bank of Asia BVI In Apparent Liquidation

Word reaching our newsroom is that liquidators are allegedly on site at the Bank of Asia offices at Commerce House, Road Town, Tortola. We understand local staff has limited access to the facility and are standing outside.

The owners of the bank Carson Wen and his wife Julia Yuet Shan Fung we understand were declared bankrupt by the courts of the Virgin Islands, and have failed to overturn a worldwide asset freeze order against them here in the British Virgin Islands, 

Our Editor in Chief reached out to the President of the bank, Mr. Dion Vanterpool, who said he couldn’t speak at the moment, and rushed our Editor off the phone before she was able to ask a question or say what the call was in reference to.

A call was also made to the Premier. Dr. Natalio Wheatley, but the call went unanswered. A message was also sent to Junior Minister for Financial Services, the Honourable Lorna Smith. However, our newsroom has not received a response as yet. 

There is a ‘proverbial brick wall’ around ascertaining information in relation to the good standing of the bank.

Bank of Asia opened in the British Virgin Islands in 2018 under the National Democratic Party lead Government headed by then Premier Dr. D Orlando Smith.

This is a breaking news story with more information to follow. 

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