Beautiful Virgin Islands

Thursday, Nov 20, 2025

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Operator parties had demanded that the Airport runway project not go forward; Old outdated planes leased.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
Caribbean Reparations Commission Seeks ‘Mutually Beneficial’ Justice from UK
EU Insists UK Must Contribute Financially for Access to Electricity Market and Broader Ties
UK to Outlaw Live-Event Ticket Resales Above Face Value
President Donald Trump Hosts Saudi Crown Prince Mohammed bin Salman at White House to Seal Major Defence and Investment Deals
German Entertainment Icons Alice and Ellen Kessler Die Together at Age 89
UK Unveils Sweeping Asylum Reforms with 20-Year Settlement Wait and Conditional Status
UK Orders Twitter Hacker to Repay £4.1 Million Following 2020 High-Profile Breach
Popeyes UK Eyes Century Mark as Fried-Chicken Chain Accelerates Roll-out
Two-thirds of UK nurses report working while unwell amid staffing crisis
Britain to Reform Human-Rights Laws in Sweeping Asylum Policy Overhaul
Nearly Half of Job Losses Under Labour Government Affect UK Youth
UK Chancellor Reeves Eyes High-Value Home Levy in Budget to Raise Tens of Billions
UK Urges Poland to Choose Swedish Submarines in Multi-Billion € Defence Bid
US Border Czar Tom Homan Declares UK No Longer a ‘Friend’ Amid Intelligence Rift
UK Announces Reversal of Income Tax Hike Plans Ahead of Budget
Starmer Faces Mounting Turmoil as Leaked Briefings Ignite Leadership Plot Rumours
UK Commentator Sami Hamdi Returns Home After US Visa Revocation and Detention
UK Eyes Denmark-Style Asylum Rules in Major Migration Shift
UK Signals Intelligence Freeze Amid US Maritime Drug-Strike Campaign
TikTok Awards UK & Ireland 2025 Celebrates Top Creators Including Max Klymenko as Creator of the Year
UK Growth Nearly Stalls at 0.1% in Q3 as Cyberattack Halts Car Production
Apple Denied Permission to Appeal UK App Store Ruling, Faces Over £1bn Liability
UK Chooses Wylfa for First Small Modular Reactors, Drawing Sharp U.S. Objection
Starmer Faces Growing Labour Backlash as Briefing Sparks Authority Crisis
Reform UK Withdraws from BBC Documentary Amid Legal Storm Over Trump Speech Edit
UK Prime Minister Attempts to Reassert Authority Amid Internal Labour Leadership Drama
UK Upholds Firm Rules on Stablecoins to Shield Financial System
Brussels Divided as UK-EU Reset Stalls Over Budget Access
Prince Harry’s Remembrance Day Essay Expresses Strong Regret at Leaving Britain
UK Unemployment Hits 5% as Wage Growth Slows, Paving Way for Bank of England Rate Cut
Starmer Warns of Resurgent Racism in UK Politics as He Vows Child-Poverty Reforms
UK Grocery Inflation Slows to 4.7% as Supermarkets Launch Pre-Christmas Promotions
UK Government Backs the BBC amid Editing Scandal and Trump Threat of Legal Action
UK Assessment Mis-Estimated Fallout From Palestine Action Ban, Records Reveal
UK Halts Intelligence Sharing with US Amid Lethal Boat-Strike Concerns
King Charles III Leads Britain in Remembrance Sunday Tribute to War Dead
UK Retail Sales Growth Slows as Households Hold Back Ahead of Black Friday and Budget
Shell Pulls Out of Two UK Floating Wind Projects Amid Renewables Retreat
Viagogo Hit With £15 Million Tax Bill After HMRC Transfer-Pricing Inquiry
Jaguar Land Rover Cyberattack Pinches UK GDP, Bank of England Says
UK and Germany Sound Alarm on Russian-Satellite Threat to Critical Infrastructure
Former Prince Andrew Faces U.S. Congressional Request for Testimony Amid Brexit of Royal Title
BBC Director-General Tim Davie and News CEO Deborah Turness Resign Amid Editing Controversy
Tom Cruise Arrives by Helicopter at UK Scientology Fundraiser Amid Local Protests
Prince Andrew and Sarah Ferguson Face Fresh UK Probes Amid Royal Fallout
Mothers Link Teen Suicides to AI Chatbots in Growing Legal Battle
UK Government to Mirror Denmark’s Tough Immigration Framework in Major Policy Shift
UK Government Turns to Denmark-Style Immigration Reforms to Overhaul Border Rules
UK Chancellor Warned Against Cutting Insulation Funding as Budget Looms
UK Tenant Complaints Hit Record Levels as Rental Sector Faces Mounting Pressure
×