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Hon Fahie doubles down on ‘missing’ funds claim; ‘It’s $3B not $2B’

Senior Opposition Member and Chairman of the Virgin Islands Party Hon Andrew A. Fahie (R1), left, is now claiming that some $3B is unaccounted for by the National Democratic Party Government led by Dr The Honourable D. Orlando Smith (AL), right. Photo: VINO/File
On Thursday December 22, 2016 Opposition Member Hon Andrew A. Fahie (R1) increased the amount unaccounted for by Government from $2B to $3B. Photo: Internet Source
On Thursday December 22, 2016 Opposition Member Hon Andrew A. Fahie (R1) increased the amount unaccounted for by Government from $2B to $3B. Photo: Internet Source
ROAD TOWN, Tortola, VI- Senior Opposition Member and Chairman of the Virgin Islands Party Hon Andrew A. Fahie (R1) has not backed down on his claim that some $2B is missing or unaccounted for under a National Democratic Party (NDP) Administration.

It was on Monday December 19, 2016 when Hon Fahie made the claim in the House of Assembly (HoA) and the Minister of Finance and Leader of Government Business, Dr The Honourable D. Orlando Smith (AL), kept silent in the HoA on the matter.

However, two days later Dr Smith was forced by his advisors to respond and he did in a late Wednesday 21, 2016 statement saying that Hon Fahie’s assertion of some $2B missing  “was irresponsible….. this is a deliberate and gross distortion of the truth,” Dr Smith’s speech writers told the public though him.

It’s in fact $3B not $2B- Hon Fahie

However, on Thursday December 22, 2016 Hon Fahie who is quick on his feet hit back, standing by his comments in the HoA. In fact, he has increased the amount from $2B to $3B.

Hon Fahie made it clear that “these are not insinuations, they are dreaded understated realities! By the Premier’s own admission, by the close of 2016 the HoA would be void of the 'Audited Financial Reports' for each of the years- 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015- and now 2016. At an average budget of $300 million per annum this math adds to a staggering $3 billion, not $2 billion, of unaudited expenditure not presented to the HoA and to the people of the Virgin Islands.”

NDP a law breaker Government

The First District Representative, in his response to Dr Smith, also pointed out, in law, the role of the Auditor General and demonstrated how the NDP regime continues to break the law by not bringing the Audited Financial Reports to the House of Assembly as is required under Section 109 of the Constitution.

See link to related story below:

http://www.virginislandsnewsonline.com/en/news/who-took-our-whose-hands-in-the-cookie-jar-2b-missing

25 Responses to “Hon Fahie doubles down on ‘missing’ funds claim; ‘It’s $3B not $2B’”

  • zoe (24/12/2016, 13:14) Like (7) Dislike (0) Reply
    Yea yea fahie
  • good (24/12/2016, 13:16) Like (19) Dislike (0) Reply
    Between the Premier & this Governor, I don't know which one is the biggest disappointment.
  • chad (24/12/2016, 13:17) Like (26) Dislike (0) Reply
    The Premier cannot be trusted.
  • My Take (24/12/2016, 13:21) Like (19) Dislike (0) Reply
    The only persons cannot see the blatant corruption & mismanagement of our tax dollars by the NDP mainly the NDP Ministers are the Governor, Commissioner of Police, the DPP and the Auditor General. The NDP put ALL of them to sleep.
    • Dojo (25/12/2016, 09:50) Like (3) Dislike (0) Reply

      You think so! 2017 the SH$T will hit the ceiling Fan say I say so!!!!!

  • Shhhh (24/12/2016, 13:27) Like (33) Dislike (1) Reply
    Between you & me, I heard that the audited financial statements from 2007 to 2011 were ready from 2012 but the NDP didn't want to make it public because it would have showed that the VIP DID NOT LEAVE THE COUNTRY BROKE!
    • The quiet one (24/12/2016, 18:35) Like (14) Dislike (0) Reply
      @Shhhh, I also heard that to. From what I understood, VIP did not leave the Country broke. They wanted US the public to believe that.
  • Trump Card Analyses. (24/12/2016, 13:50) Like (23) Dislike (2) Reply
    NDP Trump cards. "Expats votes" or U can call it Anti Frazer votes.. 41% of voters are Expats. 59% Natives. Last election we had a 66% turn out... 39% Native turn out..27% Xpats turn out .. 24% Anti Frazer.. NDP played the unpopular Frazer card very well the past two elections..So with No Frazer to attack. NDP don't stand a chance next election..it's very difficult for an anti Xpats party to win election in the BVI. An anti Xpats party will need 75% of Native votes to win. Where by a friendly Xpats party can will with less than 50% of the Natives votes. Like NDP did last election...
  • Jack B Nimble. FBI. (24/12/2016, 13:54) Like (21) Dislike (5) Reply
    3 Billion. Don't believe. Where is it. ? If it's one thing FBI is good at is following the money no matter where it is, who has it or which bank it in... If that is true I can assure you the FBI will soon start asking questions.
  • lord o. (24/12/2016, 14:04) Like (13) Dislike (5) Reply
    Lord Fahie. You going too Far now.. The twist you put on it makes it sound Criminal..Keep it in perspective.. "Irresponsible with tax payers funs"
  • VG (24/12/2016, 15:56) Like (20) Dislike (0) Reply
    Fahie you going drop down Dr Zzzzz
  • cnn (24/12/2016, 16:48) Like (6) Dislike (11) Reply
    With all that money missing ndp will win the nexxt election
  • Eagle & Buffalo (24/12/2016, 18:19) Like (18) Dislike (0) Reply
    If the audited reports for calendar years 2007-2015 have not been prepared, failure to perform, gross negligence........... etc. If they have been prepared and not released, it is also gross negligence and poor governance. If they have been prepared and deliberately not release, the government is behaving and acting deceitfully Further, if they have deliberately not been produced to provide a talking point or excuse that they have not been prepared, this is deceitful, distrustful and egregious behaviour and abuse of power.

    What is in the audited financial reports, if any, that would drive their not being released? Is the delay to conceal and continue telling a lie? Is the delay due to incompetence, poor leadership and ineffective management? Release the audited financial statements and let's get on with the important business of effective governance.

    As always let's soar like eagles and not be led aimlessly off the cliff like buffaloes.
  • E. Leonard (24/12/2016, 19:32) Like (18) Dislike (1) Reply

    Indeed, it would be earth or territorial shattering news if the $3B in question were not expense for its authorized and appropriated purpose and intent. It is a basic financial management tenet that government has the obligation to spend money for its intended purpose and it cannot spend money it does not have. Call me naive but it would be difficult to fathom the Premier and other financial and budget personnel grossly mismanaging appropriated funds, sullying and disgracing their and their family names, disappointing/disheartening the electorate, bringing shame on the national image and pausing external investment. Moreover, it is a best management practice(BMP) for governmental entities to produce audited financial statements annually. It is an execution summary of the final stage of the budgeting process that compares actual expenditures with planned expenditures. In addition to being a BMP, it is a standard operating procedure (SOP) and a metric of financial management and accountability.

    Lack of audited financial statements can lead to wild speculation and all kinds of conspiracy theories. Nonetheless, the Hon Fahie, D-1 representive, chairman of VIP and member of the Opposition, is not totally off the mark, for without the audited financial statements it is not possible to know what was spent, when it was spent and for what and if it were spent at all. Hon Fahie is fulfilling the role of the Opposition. Government needs to bring the audited financial statements for 2008-2015 to the HOA as soon as possible to settle this issue. Continued delay may give the issue more legs and wings. More legs and wings will feed more speculation that could adversely affect the ability to govern, sapping and diverting time, energy and resources that should be focused to other pressing issues. Merry Christmas and Happy New Year!

    • Crap (25/12/2016, 10:56) Like (0) Dislike (5) Reply
      Lots of budget lingo, i.e., authorize, appropriate, execution, best management practice, standard operating procedures, audited financial statements.......,etc. But what is the take away? What is needed is tangible solutions, not flowery language. Let's dispense of the crap no more crapolla.
  • need to go b guth (24/12/2016, 21:48) Like (7) Dislike (1) Reply
    They all just a damm set of thieves
  • Sad So Sad. (24/12/2016, 22:01) Like (5) Dislike (0) Reply
    The Bahamas and BVI. Nothing but bad financial mismanagement and poor governance news.. Sad...So Sad...Two counteies that were once A-Rated. Is now D-Rated. We the voters are not good at selecting good people to lead us.
  • Actually (24/12/2016, 23:27) Like (0) Dislike (1) Reply
    When I look east west north south,and I see what NDP has completed in the short docs of time,I can believe that upwards of 3 billion or whatever money that they had was used for what our eyes could see and what we could touch.
    My big dilemma is looking about district 1 and realizing that in all Andrew,'s time as representative there is nothing. Nothing at all he has done that could remotely represent the 1 billion or more that he has been given for the benefit of that district..
    • Disinterested (25/12/2016, 09:22) Like (4) Dislike (0) Reply
      @Actually, clearly you have no concept wah ah billion dollars is. Well a a billion dollars is a 1000 million I think. Andrew has been in power since when 1999. What is that 19 years. Elected officials get about $150K per year for his/her district. In Andrew's case this equates to (19x 150)=$2, 850, 000, if my Manda School math is right.
  • Fahie and Fraser (25/12/2016, 02:26) Like (3) Dislike (0) Reply
    Our Premier and Deputy Premier for the next upcoming election. Bam!
  • Fahie and Fraser (25/12/2016, 02:50) Like (5) Dislike (0) Reply
    For Premier and Deputy Premier in the next upcoming election. They're the only ones looking out for we. Bam!
  • Political Observer (PO) (25/12/2016, 05:33) Like (10) Dislike (0) Reply
    @E. Leonard, merry Christmas my friend! A well reasoned and balanced blog that provides both government and Opposition something that each can lean on. The $3B was expensed but audited financial statements are needed to detail how, when, why, where and on what was it expensed.

    The question on what it was spent and what the taxpayers got for the investment can be answered by producing and delivering audited financial statements. Audited financial statements IMO should be delivered no more than 90 days after the end of the fiscal year. For example, the 2008 fiscal year ended in December 2008 and the audited financial statements should have been delivered by March 2009. Now it is December 2016 and statements for 2007-2015 have not been brought to the HOA. This is what is fueling the opposition and others speculation. Deliver the statements and shut the speculation down. Government isn't getting any political mileage with the delay.
  • Interested (25/12/2016, 13:47) Like (0) Dislike (3) Reply
    Agree with the need for financials,but disagree with Fahie's foolishness.What 3b dollars fir heaven sake.Pure wild speculation.
    Merry Christmas.
  • voiceofthevoiceless (25/12/2016, 14:53) Like (3) Dislike (0) Reply

    Seasons greetings to all!

    This is very somber news in a pleasant season but after all the festivity we must face reality. Now I am seeing blame to share by two administrations of not being forthcoming and open with these statements. November 2011 is when NDP came to power but we are also talking about 2007, 2008, 2009 and 2010 so why were those not tabled under the Oneal administration? It seems that our Governments have cultivated an unsustainable trend of non-transparency and zero accountability which needs to come to an end immediately if we consider ourselves democracy and if we are to be fiscally responsible. I do not recall Andrew being vocal back then and so it seems politically expedient to take them to task now but even if politics is the personal goal, the country's goal is for an end to this mode of operation by Government after Government. Probably 3 billion dollars too late but better late than never.

    A budget is made based on expected revenues and expenses are estimated and allocated based on those revenues. Now the importance of an annual independent audit is to determine independently and professionally whether or not we have met those estimates. It is very important because anybody can put together a budget of 330 million but at the end of the fiscal year you need to know have you realized those revenues? Did you overspend? Was money diverted without the proper permission? Was the money spent in the way it was budgeted? A revenue shortfall or expenses increase of 10 million could make a big difference and can lead to a deficit at the end of the day.

    This is somber stuff.

    Happy Holidays!

  • Sawda (26/12/2016, 14:01) Like (6) Dislike (0) Reply
    I Ain't no Cpa but it looks to me like the government can't get the money count, for the amount of money spent they ain't have nothing to show for it..Just and example, if the cruise pier value 50 million is no way and apraisal can be 100 million so we have a serious problem, where is the other 50 million, they can't show nothing for it so they trying to doctor those audits.Good Fahie Bad Fahie he ain't no doctor he is a Numbers Wiz Maths professor, so they have to come correct ..


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