Beautiful Virgin Islands

Friday, Aug 21, 2026

Was BVI Airways deal a Ponzi scheme?- Auditor General’s Report

After reading through the Auditor General’s Report on Government’s Financing of the BVI Airways’ Direct Flights to Miami, many are asking if it was a Ponzi scheme. Why they asking if the answer is so clear? BVI should simply work the appropriate and fastest way to get the money back from Dr D. Orlando Smith and his family member Neil M. Smith that has been placed in a position to orchestrate this deal. Accountability means money back, nothing less.

Operator parties had demanded that the Airport runway project not go forward; Old outdated planes leased.


Regarding the two aircraft to be purchased by BVI Airways, the Operator parties initially intended to use the Bae Avro RJ 85 aircraft configured for dual-class.

However, on page 18 No. 57 of the report, Auditor General Ms Sonia M. Webster noted that the Operator parties “opted to acquire two marginally larger Bae Avro RJ 100 jets (with the same seating configuration) from Tronosjet of Prince Edward Island, Canada. Both aircraft were slightly over two decades old and had recently been retired from Swiss Air’s fleet.”


Stop the runway expansion- Operator parties

When things were not going their way, including the Dr D. Orlando Smith Administration’s failure to produce a Letter of Credit, the Operator parties flooded Dr Smith with a stream of unsolicited proposals for additional public financial support and for “compensation for perceived losses”.

On page 27 No. 158 of the report, the Operator parties “alleged that the planned runway expansion served as a disincentive to their prospective investors and used this as a basis for seeking additional public financial assistance in February 2017 in the form of a loan guarantee for $10 million, and compensation for lost revenues. This was rejected by the Government.”


Email pressure from Operator parties

According to the report, pressure continued to be placed on former Premier Smith in the form of a plethora of emails.

The report shows on page 27 No. 163 who were the Operator parties that sought to pressure the Government into providing more public funding. They included:

“i. 25 April 2017 from Weisman – Providing that the Government covers our costs for the next 30 days we are prepared to work with you to find interim and long term solution.

ii. 8 May 2017 from Weisman – The Government should make a short term payment of $350,000 to us while loan (line of credit) details are being worked out;

iii. 15 May 2017 from Bradley – Now is a good time for the Government to buy a significant stake in the venture, offer belongers vouchers for the first year and postpone the airport expansion;

iv. 6 July 2017 from Bradley – We have a lender for $7.65 million and need the Government to guarantee. In the next 7 – 10 days either we find acceptable terms together and reach an agreement or we will be forced to lay off local staff and purse other options on the table. The balance will then be determined by the US legal system.

v. 5 September 2017 from Weisman – We are in discussions with several potential investors to provide capital. They have all requested various levels of support from the Government.

vi. 23 October 2017 from Bradley – There is one last lender/investor who is willing to fund us but it will require some form of guarantee from the BVI Government in order to proceed.”


How dare you ask for information???

After public pressure and no flights, no plane and no way forward, the Financial Secretary on May 17, 2017, wrote to the Operator parties requesting information about their companies.

“This drew a response that was defiant and accusatory with flagrant refusals to provide much of the information and unsubstantiated claims that other such information had already been provided,” according to page 29, No. 170 of the report.

Another red flag for the taxpayers appeared on page 30 No. 179 of the report where it stated: “Despite signing the addendum and receiving the full $7.2 million from the Government, the operator parties continued to complain about the Letter of Credit breach in correspondence throughout the venture in a manner that suggested that the Government was still in default.”

Up to 2017; however, the Operator parties did not show any evidence of their promised $6.M investment.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Twenty-Nine US States Take Meta to Trial Over Alleged Child Addiction on Instagram and Facebook
Former Scottish National Party Executive Peter Murrell Jailed for Five Years Over £400,000 Embezzlement
Moderna and Merck's Personalized Cancer Vaccine Succeeds in Historic Late-Stage Melanoma Trial
Prince Harry and Meghan to Move Back to Britain With Their Children
England and Wales Have Fewer Than 1,800 Prison Places Left for Men
Suspected People Smuggler Arrested After Investigation Identified Him
Children's Doctors Warn That Vaping Can Lead Young People to Smoking
Hundreds of Thousands of Students Receive GCSE and Vocational Results Across England, Wales and Northern Ireland
Here Is What Can Never Happen in Your Country: Taiwan Is Giving Money to All Its People Because It Collected Too Much Tax
UK Inflation Rises to 2.9% as Energy Bills Jump
UK Issues New Conduct Guide for Asylum Seekers on Consent and Respect
A Sleepless Night on Wall Street: Nasdaq to Begin Nearly Round-the-Clock Trading
"The First in the World": 69-Year-Old Protested Artificial Intelligence—and Went to Jail
Ukraine's Ousted Defence Minister Calls for Wartime Presidential Election
China’s Lifelike AI Humans Move From Livestreams Into Real-World Service Roles
Sarah Ferguson Reportedly Retreats to Late Ex-Boyfriend's Swiss Chalet
Cristiano Ronaldo and Georgina Rodríguez Sign Prenup Protecting Their Separate Fortunes
Thieves Steal Antonello da Messina Renaissance Masterpieces From Sicilian Museum
Better.com Founder Who Fired 900 Employees on Zoom Is Ousted as CEO
Italian Speed Camera Issues Nearly 32,000 Fines in 10 Weeks, Worth More Than €3 Million
AI Manager at San Francisco Store Recommends Firing Human Employee
Google Launches Pixel 11 With Gemini AI at the Center of Its Hardware Strategy
Reform UK Unveils Plan to Cut Welfare Spending by More Than £50 Billion a Year
Prime Minister Andy Burnham Praised Extinction Rebellion for Doing a 'Great Service'
UK Wildfire Phone Alert Triggers Backlash as Users Switch Off Emergency Warnings
Heathrow Roads Reopen After Burst Water Main Floods Access to Terminals 2 and 3
Former NBA Players Enes Kanter Freedom and Royce White Say They Will Enter 2027 WNBA Draft
Former Cambridge Professor Jason Arday Found Dead Days After Resigning Amid Plagiarism Row
US Appeals Court Rules AI Agent's Website Actions Are Legally Attributed to the User
France's Constitutional Council Blocks Social Media Ban for Children Under 15
Liechtenstein Changes Royal Succession Rules to Allow Women to Inherit the Throne
Women Allege Rape and Sexual Abuse at British Army College for Teenage Recruits
Minnesota: Two independent investigators posed as Muslims (one wearing a burqa) and showed how they could vote in elections without identification.
China’s Kimi Launches AI-Focused Credit Card With Agricultural Bank of China and American Express
Former Labour Adviser Arrested on Suspicion of Spying for China Held Privileged Access as Top Party Donor
Turkish Parliament Passes Landmark Bill Granting Conditional Amnesty to Disarmed PKK Members
Donald Trump Warns FIFA Against Ousting Gianni Infantino Amid Revolt by Global Football Leaders
Jeff Bezos Joins Investor Group Closing In on $6 Billion Liverpool FC Stake
UK Councils to Receive Sweeping Planning Powers to Ban New Vape and Betting Shops
Russia’s A7 Builds a State-Linked Payments Network Beyond Western Sanctions
Hyper-Realistic Reborn Dolls Draw Collectors Seeking Comfort and Craft
Gen Z Cuts Back on Dating as a Night Out Nears $200
Patients Turn to Artificial Intelligence for Therapy as Psychiatrists Warn of Privacy and Clinical Risks
Couples Embrace ‘Sleep Divorce’ to Protect Rest and Reduce Tension
Meta Ordered to Pay $567 Million and Change Facebook and Instagram Safeguards for Children
Up to only 10 Months in Prison for Swedish Officer’s Murderer Sparks Anger
Success: Nvidia Turned Gaming Chips Into the Engine of the AI Boom
Jorge Messi, Lionel Messi’s Father and Longtime Agent, Dies at 68
AI’s Next Bottleneck Is Power, Not Just Nvidia Chips
Advertising trick: Pepsi’s Harrier Jet Commercial Led to a $700,000 Court Fight
×