'There must be accountability for any wrongdoing'- Premier on unauthorised deposits
Premier Wheatley revealed on July 24, 2026, that $2.4 million was invested in Delta Capital Partners Limited, and he was unaware of the transaction because the proper procedure was not followed.
In a statement on Thursday, July 30, 2026, Premier Wheatley said he was addressing the nation because he leads a government that “believes in democratic accountability and transparency”. He added that he takes his role as Minister of Finance extremely seriously.
“Stewardship of the public finances is a sacred trust and must be handled with the utmost care.”
The Premier clarified that the Public Finance Management Act requires any investment of public funds to be approved by the Minister of Finance.
“The investment made from the former Accountant General, Arnold Ainsley, in Delta Capital Ltd was made outside of my knowledge and approval,” he defended, adding, “This is unacceptable.”
He said he was only made aware of the transaction in April 2026 and investigations are ongoing to identify how this violation occurred and to ensure it is not repeated moving forward.
Cabinet, in March 2026, approved a comprehensive Government Investment Policy that is compliant with the Public Finance Management Act, following the investment practices identified in relation to Bank of Asia, where millions of public funds were invested without the proper procedure being followed. This policy, he assured, is now in force.
“My Government and I expect strict compliance with all laws and Cabinet-approved policies going forward. I, repeat, Arnold Ainsley, should have sought the required approvals before seeking to invest funds in Delta Capital Ltd.” This matter is being investigated by the Financial Investigation Agency (FIA).
There must be accountability for wrongdoing
Premier Wheatley said, “There must be accountability for any wrongdoing, and I am making sure that the right steps are being taken to prevent this from happening again.”
In addition to the FIA’s investigation, he said he also wrote to the Internal Audit Department to investigate this unauthorised investment, and active recovery efforts are underway by the Ministry of Finance and Treasury, should any monies be recoverable.
“As Minister of Finance, I will insist on accountability where any wrongdoing is found regarding these public investments, and that going forward all procedures and policies are followed under the now strengthened investment framework.”
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$2.4M invested in Jamaican entity without proper procedure- VI Premier admits
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17 Responses to “'There must be accountability for any wrongdoing'- Premier on unauthorised deposits”
Next is an Investment Committee. It's a group of the professionals that meet on a periotic timeframe (perhaps monthly). Their roll is fiduciary oversight of current and protentional changes to the investments and holdings. Does this exist?
Lastly, a chain of approval. A documented process which defines the step-by-step path for making, validating and executing, money choices. Does this exist?
If all three exist, then it can be said processes were not followed. If any don't, it's a mickey mouse clown show. If your running a mickey mouse clown show it's not fair to blame workers and professionals for a lack of management and operational control.
The HoA is the legislative body and needs to legislate stronger policies on financial management. The HoA needs to be more engaged than appropriate an operations and maintenance budget, it must approve expenditures above a specic dollar dollar value. The Minister of Finance needs to get more hands on in financial management. Minister of Finance is more than a BIG TITLE. One has to do the work. It is not a responsibility where one just trust but must trust but verify. This responsibility needs leading indicator management. Audits are important, critical, vital,,etc, but auditing after the goat bolted from the pen is lagging indicator . More proactive action is needed. The Minister of Finance can work quietly but must walk with a BIG guava stick. Is the A. General still on the job, pending the investigation? If no, let’s get serious.
Does it seem like the whole financial system needs revamping with stronger, effective, etc checks and balances, real consequences for violating the rules.
SO IF YOU DID NOT APPROVED THIS. THEN THE ACCT GENERAL HAS STOLEN THE GOVERNMENTS FUNDS FOR HIS PERSONAL GAIN? SORRY THERE IS NO EXCUSE FOR THIS. YOU ARE TO BE HELD AT ACOUNT.
See people already started turning on their own kind and each other. Tear each other down. Crabs in a bucket.