Hon Walwyn’s Bank of Asia claims ‘completely false’- Premier Wheatley
During a press conference on Monday, June 23, 2025, Hon Wheatley said, “There were some false claims made about that.”
Walwyn wrong about opening of Bank of Asia account
On May 29, 2025, the bank’s closure was announced. The decision to shut down the Bank of Asia (BVI) Limited was made by the Virgin Islands Deposit Insurance Corporation (VIDIC), with the intervention of the British Virgin Islands Financial Services Commission (FSC).
Hon Walwyn, in a statement to the public on June 10, 2025, said during a June 3, 2025, sitting of the House of Assembly, Premier Wheatley in response to a question regarding government bank accounts and balances as at December 31, 2024 and May 31, 2025, Premier Wheatley sid the account was opened this year.
“The Premier responded by providing figures as at December 2024 and 30th April 2025. What was particularly alarming with his response was that in December 2024, there was no government account at the Bank of Asia, but by the end of April 2025, an account had been opened with $5 million deposited,” the Opposition Leader said.
According to Premier Wheatley, “That’s false. That’s not when the account for the Bank of Asia was created; that was false.”
Allegations Hon Lorna G. Smith made the deposit is also false
Hon Wheatley also rubbished allegations that the directive to make the five million dollar deposit into the Bank of Asia (BVI) Limited came from Hon Lorna G. Smith, OBE (AL), Junior Minister for Financial Services, Trade and Economic Development.
“That's completely false, and that’s actually quite slanderous. Persons who have taken that to be the gospel. I would like to inform them that that’s completely false.”
There are also claims Premier Wheatley is investigating himself
The Premier reiterated his commitment to getting to the bottom of this situation with an internal audit.
“Under the legislation, I’m entitled to do that as the Minister of Finance…statements have been made is that I am investigating myself, that certainly is not the case.”
Hon Walwyn, in his statement, also claimed Premier Wheatley’s decision to seek an internal audit into the matter is “yet another attempt to run from the consequences of his actions and hide from public scrutiny”.
That, Hon Wheatley said, is not the case.
“For me, it does not speak to the integrity of our internal auditors. They call it as they see, without fear or favour, and that’s their function, to be able to recognise and recommend to the government any improvements we need to make the system, if we find that there are things needed to be done better.”
Hon Walwyn has been blasted for expressing zero faith in the territory's checks and balances systems and calling on the Governor to intervene to allegedly fulfill his own selfish agenda.
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8 Responses to “Hon Walwyn’s Bank of Asia claims ‘completely false’- Premier Wheatley”
What is the truth. Please tell us.
Let's not keep it a SECRET or we will bethinking what Walwyn and Cindy are saying is the truth.
When was the account opened?
Who opened the account?
On who's instructions was the account opened?
What date was $5,000,000 put int he account?
Who put the money in the account?
Who instructed that this should happen?
Which account did the money come from?
Who controls that account?
Who instructed that $5,000,000 should be taken from that account?
What was the purpose of the money in that account?
Where did he money in that account come from?
Before we go to the Minister of Finance to ask these questions perhaps as premier you can tell us the truth.
You clearly know what the truth is or you would not be able to tell us what Walwyn is saying is false.