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.