Bishop John Cline has sharply criticised Premier and Minister of Finance Dr. Natalio Wheatley over $7.5 million in failed investments, declaring that residents are not “idiots”.
The Government invested $2.5 million in Jamaica-based Delta Capital Partners Limited and deposited another $5 million with Bank of Asia, which is now in receivership.
Cline rejected the Premier’s claim that the transactions were made without his knowledge or approval, describing the explanation as “almost insulting”.
“We must look like a bunch of idiots to the Premier for him to come and say to us that he didn’t know the money was being invested,” Cline stated. “We do not accept that, Mr. Premier.”
He accused the Premier of attempting to distance himself from the Delta investment by placing responsibility on former Accountant General Arnold Ainsley, who is no longer in the Territory to respond to the allegations.
“As far as I am concerned, he is the fall guy, the one who gets thrown under the bus,” Cline said.
Cline also questioned why the Financial Secretary remained silent and suggested that proper due diligence was not conducted before $2.5 million was placed with Delta Capital.
“Somebody has to do their due diligence,” he argued, noting that financial officials are responsible for ensuring public funds remain secure, liquid and available to meet the Territory’s obligations.
“When the $5 million went to Bank of Asia, you claimed it was done without your approval. Now $2.5 million has gone to Delta Capital and you claim it was done without approval,” Cline said.
He also criticised the lack of disciplinary action despite millions in public funds being at risk.
“No one has lost their job or been held accountable, and we must accept that an investigation is going on. Something smells fishy,” he declared.
“Honourable Premier, as Minister of Finance, the buck stops with you.”
The Premier previously said required procedures were not followed in the Delta investment and that efforts are underway to recover the funds. Investigations into the matter are continuing.
The Government invested $2.5 million in Jamaica-based Delta Capital Partners Limited and deposited another $5 million with Bank of Asia, which is now in receivership.
Cline rejected the Premier’s claim that the transactions were made without his knowledge or approval, describing the explanation as “almost insulting”.
“We must look like a bunch of idiots to the Premier for him to come and say to us that he didn’t know the money was being invested,” Cline stated. “We do not accept that, Mr. Premier.”
He accused the Premier of attempting to distance himself from the Delta investment by placing responsibility on former Accountant General Arnold Ainsley, who is no longer in the Territory to respond to the allegations.
“As far as I am concerned, he is the fall guy, the one who gets thrown under the bus,” Cline said.
Cline also questioned why the Financial Secretary remained silent and suggested that proper due diligence was not conducted before $2.5 million was placed with Delta Capital.
“Somebody has to do their due diligence,” he argued, noting that financial officials are responsible for ensuring public funds remain secure, liquid and available to meet the Territory’s obligations.
“When the $5 million went to Bank of Asia, you claimed it was done without your approval. Now $2.5 million has gone to Delta Capital and you claim it was done without approval,” Cline said.
He also criticised the lack of disciplinary action despite millions in public funds being at risk.
“No one has lost their job or been held accountable, and we must accept that an investigation is going on. Something smells fishy,” he declared.
“Honourable Premier, as Minister of Finance, the buck stops with you.”
The Premier previously said required procedures were not followed in the Delta investment and that efforts are underway to recover the funds. Investigations into the matter are continuing.
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