BVI probes US$2.5-million Delta Capital investment

The British Virgin Islands (BVI) government is launching an investigation into a US$2.5 million investment of public funds made with Jamaica-linked Delta Capital Partners. The investment, which took place in 2025, was reportedly made without the necessary financial approvals.

BVI Premier Dr. Natalio Wheatley confirmed during a press conference that neither the minister of finance nor the financial secretary had approved the transaction. He admitted that this represented another instance where financial legislation was not followed. The BVI Financial Investigation Agency is now handling the probe, and Wheatley has pledged to release further details once the agency completes its findings.

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I was not aware of it at the time.

Wheatley acknowledged broader failings within the Ministry of Finance and stated that corrective measures have since been implemented. This latest disclosure comes after a separate incident involving a US$5 million government deposit at the now-defunct Bank of Asia, which also lacked required approvals. In response, the Cabinet has adopted a new investment strategy to govern the placement of public funds.

Details regarding who authorized the Delta investment, the specific financial instrument used, and the current recoverability of the funds remain undisclosed. Delta Capital Partners is among companies facing charges in Jamaica related to the collapse of investment firm Stocks and Securities Limited (SSL). The allegations against Delta, SSL, and former executives, filed in December 2025, are still before the Jamaican courts and have not yet been proven.

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We recognise that that’s a failing within the Ministry of Finance.