Premier and Minister of Finance Dr the Hon Natalio D. Wheatley (R7) has said there must be accountability for any wrongdoing when it comes to the unauthorised investment of public funds. Photo: Facebook

Former Accountant General, Arnold J. Ainsley, has been accused of making the $2.4 million deposit in Jamaican company Delta Capital Ltd in 2025 without following the proper procedure. Photo: GIS

Premier Wheatley revealed on July 24, 2026, that $2.4 million was invested in Delta Capital Partners Limited in 2025, 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