The Premier of the Virgin Islands, Natalio Wheatley, during a Press Briefing held yesterday April 20, made what appears to be a deliberate attempt to cover up information, and misguide the media and public on the findings of an internal audit, to determine the movement of $10 million dollars of the people’s money, into the failing financial institution - Bank of Asia.
The Premier has finally identified former Accountant General Arnold Ainsley as the one who ‘made the decision’ to place the monies on Bank of Asia. The Premier’s response comes almost within one year of the media and wider public probing into how the large sum made its way onto the collapsing bank.
Public Displeased With Response
The public has expressed complete disbelief and outrage in the Premier’s response, concluding that the Premier has ‘thrown the former Accountant General under the bus’ or made him the sacrificial ‘lamb’.
But did he? Or is there collusion amongst all involved?
Back in early June 2025, after Guavaberry Media brought a plethora of troubling information to light on the dealings of the bank, the Premier announced an internal audit, the contents of which he promised to share with the public, fully well knowing that the contents could not be made public.
After almost a year of probing, the Premier went back on his word on making the contents of the audit available to the public.
Arnold Ainsley the Sacrificial Lamb
Arnold Ainsley was appointed Accountant General on 24 January 2022, for a period of 2 years. After extensive research and inquiries, Guavaberry Media has been unable to verify if and when Arnold Ainsley’s contract as Accountant General was extended after January 2024. Our research confirms that Wendell Ronan has been acting in the position as of early to mid 2024 to present.
Further, our research suggests that Arnold Ainsley remains in the Territory under a consultation contract connected to the Treasury, with the Government of the Virgin Islands, which was entered into in July 2025.
Was the Premier Unable to Keep a Well Curated Cover-up Straight
The above timeline of events, brings into serious question, the information the Premier of the Virgin Islands, shared with the public during his live press debriefing yesterday, Monday April 20, 2026.
Based on the facts in the below article released by Guavaberry Media on June 26, 2025, two deposits of $5 million each, were placed on the Bank of Asia.
https://www.gbmediahouse.com/Articles/Article/3799/Bank-of-Asia-An-Even-Deeper-Look-Part-3-The-Mystery-of-the-Five-Million
The bank account with the Bank of Asia was opened in 2023, with the first deposit being placed in or about August 2023 when Ainsley would have been the Accountant General. This deposit was returned to the Treasury and gained some $35,000 in interests. The second deposit was made in or about the first quarter of 2025 when Arnold Ainsley was no longer the Accountant General, or assigned to the Government of the Virgin Islands in any capacity. This deposit remained on the Bank of Asia, and is the deposit of concern that the Government may have lost in the latest and most troubling transaction to have been made with the Bank of Asia.
Forcing the question; did the Premier mix up what he thought was a well curated and planned narrative? As he appeared uncertain of his curated lines while glancing in the direction of now Junior Minister Lorna Smith and Financial Secretary Jeremiah Frett?
Arnold Ainsley, a Jamaican national, prior to January 2022, worked as a consultant at the Treasury Department from June 2016 to July 2019 and from July 2021 to December 2021.
Laws Violated - Who Will Be Held Accountable
The Premier, who is the Minister of Finance, and holds responsibility for the Government’s money, is attempting to convince the public that both him and the Finance Secretary are unaware as to how $10 million dollars of the Treasury’s money, could have ended up in a failing bank, under suspicious circumstances, while raising numerous questions surrounding his then Deputy Premier and Minister Lorna Smith.
The Premier of the Territory appearing weary of the Bank of Asia saga while being questioned by Guavaberry Media and the BVI Beacon stated that:
‘The decision by the former Auditor General was not in full compliance with the legislation.” Further stating that his Government had taken further measures ensure the Government has a good policy framework around the investment of Government’s monies.
However, the Public Finance Management Act states in Sections 29 and 30:
29 (1) Money in the Consolidated Fund shall be kept with such bank as may be specified by the Minister.
(2) Subsection (I) does not apply to money invested in accordance with specified bank. section 25.
With Section 25 stating:
The Financial Secretary may, with the approval of the Minister, invest money in the Consolidated Fund in an authorized investment.
30. A public or official account shall not be opened at a bank without the written authority of the Minister.
While the Premier is suggesting further policy frameworks were approved to protect investment measures, the law was broken twice, based on the Premier’s statement yesterday. Despite the internal audit being completed more than six (6) months ago, Arnold Ainsley, who is now being blamed, remains in the Territory, and on contract with the Government of the Virgin Islands.
Guavaberry Media is now inundated with calls and messages inquiring on when a full investigation will be done, and the possibility of a Commission of Inquiry into the matter.
This story continues to develop and Guavaberry Media will continue to follow and report these developments.