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Ms Mc Coy Misick, 31, had spent £137,000 in a month on clothes.
Since coming to power in 2003, the debonair politician, scion of a powerful Turks and Caicos family and until last month leader of the governing Progressive National Party (PNP), has dramatically increased the size of the islands' economy.
Sir Robin Auld, the respected former judge commissioned to carry out an investigation into the governance of TCI (as the islands are known), this week published an incendiary interim report which found "information in abundance pointing to a high probability of systematic corruption or serious dishonesty" and concluded there were "clear signs of political amorality and immaturity and of administrative incompetence".
It is a very different picture from the vision of an unspoilt Caribbean bolt hole, whose status as a British Overseas Territory means its defence and economic stability is guaranteed by the UK, and which has attracted celebrities including Bruce Willis, Michael Douglas, Keith Richards, and Oprah Winfrey.
The Foreign Office said: "There would not be a shift to indefinite direct rule, rather a targeted intervention which would last no longer than it takes for necessary reforms to be implemented." Turks and Caicos: A relic of empire *The islands are situated 600 miles south-east of Miami and cover 166 square miles across 28 islands.
*TCI is a British Overseas Territory which is normally self-governing.The actress told the inquiry: "We had a quick romance.Michael asked me to marry him a month after [we met] and I was blown away because I had just wrote a list of the type of man that I wanted in my life, and I kind of felt God sent him to me to take me away." But the jet and a £267,000 Rolls Royce Phantom presented for her birthday turned out to be hired through her own company, she claimed, leaving her liable for ,900 monthly rent. the Premier of the Turks and Caicos Islands certainly lived the high life.