Former State Minister Kern Spencer was granted bail in the sum of $10 million when he appeared in the Corporate Area Resident Magistrates' Court on Wednesday.

Attorneys representing Spencer, Coleen Wright, his former personal assistant, and Rodney Chin, managing director of Universal Management and Development Limited and Caribbean Communications Media Network Limited, made successful bail applications before Resident Magistrate Glen Brown.

Spencer is facing seven charges: three counts of conspiracy to defraud, one count of breaching the Corruption Prevention Act and three counts of breaching the Money Laundering Act. Chin has been charged with two counts of conspiracy to defraud and two counts of breaching the Corruption Prevention Act. Wright is also facing seven charges. These include two counts of conspiracy to defraud, one charge for breaching the Corruption Prevention Act and four money laundering offences.