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CUBAN LIGHT BULB TRIAL: Spencer's assistant paid US$37,000 to Olint
2013-09-12 14:29:57 | (0 Comments)
Livern Barrett, Gleaner Writer
A prosecution witness today testified how Colleen Wright, the co-accused of former junior energy minister Kern Spencer, in the Cuban light bulb trial, purchased US$37,000 that was made payable to Olint, the failed investment scheme.
The evidence came from Sacha Neil-Elliott, who at the time was a customer service representative at the Santa Cruz branch of Jamaica National Building Society (JNBS).
Elliott said the transaction was done on September 14, 2007 when Wright and Spencer visited the financial institution to settle separate loans and close their respective fixed deposit accounts.
According to her testimony, Spencer's two accounts had a total of $6.25 million while Wright's account had just over $4 million.
She said after paying off two loans, each in the amount of $2.25 million, Spencer had a balance of approximately $1.6 million.
The JNBS employee testified that Wright was left with a balance of $990,000 after paying off her loan of just over $3 million.
She said Wright then instructed her to use the combined balance from her account and that of Spencer to purchase a US$ cheque.
Elliott said Wright informed her that the payee for the cheque was Olint Corporation.
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