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Sunday, Jul 27, 2025

Planes Found, Monies Missing & Names Behind The Failed BVI Airways Deal

Planes Found, Monies Missing & Names Behind The Failed BVI Airways Deal

Government has tracked the planes bought in the failed BVI Airways deal, but are still seeking to recover the the $7.2M of tax payer funds even as some expatriate directors of the company are still residing in the Territory.

"We found the planes, we found the files; just ain’t find the money. We have everything except the money," Premier and Minister of Finance, Hon. Andrew Fahie told the House of Assembly yesterday, February 25, while answering questions about the deal.

During the sitting, the Premier revealed that the planes were sold twice and are now operating out of Australia. Premier Fahie revealed the probe done by Martin Kenney & Co. Solicitors, uncovered that some of these persons are still residing in the Territory.

According to the Premier, Pauline Jones, a United Kingdom native, residing in the Territory, owns 31 per cent of shares in the company. He said, another UK native, now a BVI resident, Bradley Bogen, owns another 20 per cent, while a Delaware based company holds the remaining 49 per cent.

The shareholders of the US-based company, he said is alleged to be Gerry Welby and Scott Wiseman. The pair were also directors of the company, tasked with the daily running of the airline company.

The Premier also revealed that the other directors of BVIA as of 2017 were US citizen, Bruce Bradley; former BVI Government lawyer, Lester Hyman; US native, Robert Cisella, and Ryan Geluk a Canadian citizen and resident of the Territory.

He said these directors as per the investigations were to be paid $10,000 in compensation when they were appointed, and they were also entitled to $2,500 for each meeting attended.


How Funds Were Disbursed

Premier Fahie said, the $7.27M that was pumped into the failed airways, were disbursed in varying amounts over a period of time.

He said the first payment of $500,000 was paid to the BVIA on January 22, 2016. The second was on March 11, 2016, in the sum of $2.4M.

The Premier went on to say that the third and fourth payments were done at the same time, and amounted to $2.1M.

He said three months and 11 days after BVIA received the sum of $2.7 million, and the final payment of $200,000 shortly after.

The investigation also revealed a portion of the funds were used to purchase the two planes in 2016 as well as other expenses such as hiring staff, marketing and getting regulatory approvals.

The matter is currently in arbitration proceedings in New York and pre-action disclosure proceedings in Washington DC against the government’s former attorney, Hyman.

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