A man accused of laundering money amounting to US$4 million ($346 million) pleaded not guilty and was remanded in court yesterday.

He is, Sean Lawrence, a businessman of a Montego Bay address. Lawrence will reappear before the Corporate Area Resident Magistrate's Court on November 4 when the matter will again be mentioned.

Senior Resident Magistrate Judith Pusey ordered that the officer be bound over to the matter until the file is presented.

It is alleged that from 2005-2011, the accused led a group of men in defrauding a number of US citizens. It is reported that his tactic was to tell persons they had won a lottery as well as other prizes where their names were randomly selected.

The victims were allegedly told to send to collect their prizes but no such winnings existed.

During the period, the court was told that the accused also used the money collected to acquire several properties, which he disguised by registering them in other persons names.

The police caught wind of his activities and Lawrence was arrested and charged.