What happened to approx. $15M at BVI Ports Authority?
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![According to Hon. Julian Fraser, there were some $24M plus in the reserve when he took office as Minister for Communications and Works in 2007. Photo: VINO/File](https://www.virginislandsnewsonline.com/cache/images/350x_8_800x_IMG_1136.jpg)
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.
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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.