Alliance Financial Services Limited on Thursday pleaded guilty to 28 counts of lending currency without authorisation and six counts of unlawfully engaging in the taking of deposit.
Robert Chin, one of the principals of Alliance, pleaded guilty on behalf of the company as part of a plea agreement with the prosecution.
Under the agreement, the prosecution will not proceed with individual charges against Chin and his brother Peter Chin following the sentencing of the company.
Chin will be sentenced on March 3.
Robert and Peter Chin were charged last month with breaches of the Bank of Jamaica Act and the Banking Services Act.
The court heard that a number of well-known Jamaicans and businesses obtained US dollar loans from Alliance Investment Management from 2013 to 2018.
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