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CUBAN LIGHT BULB TRIAL: Spencerís alleged companies paid $115 million
2013-09-13 11:59:27 | (0 Comments)
Livern Barrett, Gleaner Writer
Henoy Russell, a former executive at the Petroleum Corporation of Jamaica (PCJ) this morning testified that five companies, alleged to be controlled by former junior energy minister Kern Spencer, received payments totalling $115 million under the Cuban light bulb programme.
Russell, the former financial controller at the PCJ, was giving testimony at the corruption trial of the former junior energy minister and his former personal assistant, Colleen Wright.
Russell said the largest payment of $80 million was made to Universal Management Development Company.
He testified that $15 million was paid to Shipping Logistics; $4 million to Caribbean Communications Network; $850,000 to Caribbean Protection Securities Limited and $720,000 to Fuels of Jamaica.
Former accused-turned-crown witness Rodney Chin has already given evidence that he established the entities, but said he was only acting as a front man for Spencer.
According to Chin's testimony, the companies were controlled by the former junior minister.
Spencer and Wright are on trial for money laundering and illicit enrichment arising from the implementation of the Cuban light bulb programme.
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Source: The Gleaner/Power 106 News
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