A com­pa­ny con­nect­ed to Michael Lee-Chin, the chair­man of Ja­maica’s NCB Fi­nan­cial Group, sold 6.4 mil­lion of the com­pa­ny’s shares on Sep­tem­ber 5, on the Ja­maica Stock Ex­change, sources told Guardian Me­dia yes­ter­day.

The block of NCBFG shares was sold at J$51 per share, rais­ing J$326.4 mil­lion. That was equiv­a­lent to US$2.06 mil­lion at the USD to JMD ex­change rate last week Thurs­day.

Lee-Chin made a US$2 mil­lion pay­ment to note­hold­ers of Port­land Bar­ba­dos Ltd last Fri­day, in a re­vised pay­ment arrange­ment that re­sult­ed in him mak­ing a pay­ing US$2 mil­lion on Au­gust 30 and the one on Sep­tem­ber 6. He is due to make an­oth­er US$2 mil­lion pay­ment to­day and a fi­nal pay­ment of US$2 mil­lion, plus ac­crued in­ter­est, by next Fri­day.

Lee-Chin’s cur­rent pay­ment arrange­ment was put in place af­ter he missed an April 30 dead­line on a two-year US$23 mil­lion note.

A com­pa­ny con­nect­ed to Lee-Chin al­so sold 38.70 mil­lion shares in two trans­ac­tions in June 2023.