What happened to approx. $15M at BVI Ports Authority?
Earlier, Minister for Communications and Works Hon. Mark H. Vanterpool had disclosed the cash balances of all accounts held by the BVI Ports Authority in response to a query by Hon. Fraser.
Hon. Vanterpool stated that the total cash balance was $9,317, 324.74 as at October 3, 2013.
According to Hon. Fraser, there were some $24M plus in the reserve when he took office as Minister for Communications and Works in 2007. “What really happened to dwindle it down to nine million ($9M)?” Hon. Fraser asked.
Hon. Vanterpool, who was already very brief in his responses to questions including providing just yes and no answers, said he wouldn’t attempt to answer that question without a full question coming to him so he could research on it.
“However, Madam Speaker, over many years from that time a lot of these funds were used for capital development on the ports and one major project I know that was spent on the Ports funds was the tender pier that was built and a number of other projects, Madam Speaker, including the transfer of funds from the Ports Authority during the previous administration, to the, I believe to the tourist board and others, to expend,” Hon. Vanterpool stated.
The Minister, however, said he would be willing to give a more detailed answer at the next sitting of the HOA if a full question was presented to him beforehand.
Meanwhile, Hon. Vanterpool disclosed that the BVI Ports Authority has a Fixed Deposit in CIBC First Caribbean International Bank to the amount of $8, 623, 829.74 and a Savings Deposit of $345, 092 and Premium Account of $25, 622.
The Works Minister also said the BVI Ports Authority has a Savings Deposit at First Bank of $322, 781.
18 Responses to “What happened to approx. $15M at BVI Ports Authority?”
Fraser was Minister from 2007-2011. If he met the money there in 2007 and he was there a few years with his party, he needs to ask them where the money gone.
ask uncle R***h nephew too
Fraser needs to sak himself the questions.