Wednesday, 27 February 2008 Police investigators have turned their attention to money laundering activities as they intensify their probe into the Cuban Light Bulb Scandal.
Money laundering is the practice of engaging in legitimate financial transactions in order to conceal the source and destination of illegally derived funds.
News came on Tuesday night that former Junior Energy Minister Kern Spencer is among other things facing charges of money laundering.
According to information released by the police, Mr. Spencer is charged with two money laundering offences involving millions of dollars.
One of the charges relates to concealing and disguising US$37,836 on the 14th of September 2007.
In the second offence, it is alleged that Mr. Spencer transferred US$64,576 from Jamaica on the 30th of July last year.
Mr. Spencer is also accused of engaging in a questionable transaction involving JA$3 million and conspiracy to defraud between July 2006 to September 2007.
He is also cited for breaches of the Prevention of Corruption Act after reportedly receiving JA$3.1 million from Rodney Chin of Universal Management Development Company.
The company was involved in distributing the Cuban Light Bulbs.
virus said
13:28 02/27 2008
lol lol lol, b*tch yuh...
One down, how many more to fall?
up2 said
13:29 02/27 2008
fcuka u.....dem fi lock up d res a unnu to
pengo said
13:29 02/27 2008
unu teef tomuch a wi money
Garrick said
13:31 02/27 2008
Jah know star what he did was wrong look how many innercity youth dem coulda use fi distribute the light bulb dem. The youth dem coulda earn a likkle money but dem waste it star.
Evil Mendez said
16:57 02/27 2008
lol.. d whole organization fi guh a jail.. from Philip Paulwell to big head Pickersgill
Crazypickney said
17:20 02/27 2008
a good, caue mi neva get no light bulb
rrDesignZ said
17:22 02/27 2008
lol
Garrick said
17:23 02/27 2008
Them bail him since evening. Mi wonder if him start sing....MI NAH GO AH JAIL AGAIN.
Crazypickney said
17:25 02/27 2008
hey, how him get bail so quick. cho man. dem fi put him away fi years. ole tief
KrisMichael said
17:26 02/27 2008
a now the bwoy ago baal and me neva get no bulb ida an me hear ppl a get all 10 and 15 bulb one time
Garrick said
17:26 02/27 2008
Mi nuh know crazy...but it look like him goin prison fi sure.
Money laundering is the practice of engaging in legitimate financial transactions in order to conceal the source and destination of illegally derived funds.
News came on Tuesday night that former Junior Energy Minister Kern Spencer is among other things facing charges of money laundering.
According to information released by the police, Mr. Spencer is charged with two money laundering offences involving millions of dollars.
One of the charges relates to concealing and disguising US$37,836 on the 14th of September 2007.
In the second offence, it is alleged that Mr. Spencer transferred US$64,576 from Jamaica on the 30th of July last year.
Mr. Spencer is also accused of engaging in a questionable transaction involving JA$3 million and conspiracy to defraud between July 2006 to September 2007.
He is also cited for breaches of the Prevention of Corruption Act after reportedly receiving JA$3.1 million from Rodney Chin of Universal Management Development Company.
The company was involved in distributing the Cuban Light Bulbs.