Petrojam's former general manager Floyd Grindley and former chairman Dr. Perceval Bahado-Singh had their bail increased to $5 million each when they appeared in the Kingston and St. Andrew Parish Court on Thursday morning.
Chief Parish Court Judge Chester Crooks adjusted the bail from $400,000 each.
Justice Crooks also ordered that their travel documents be returned.
On Wednesday, their attorneys argued that restricting movement as part of the bail condition would cause hardship for the men because they live and work in the United States.
Justice Crooks warned the accused men not to visit Petrojam or its affiliated offices, or contact witnesses in the case.
Dr. Bahado-Singh and Mr. Grindley are scheduled to return to court on May 14.
Dr. Bahado-Singh is charged with 12 counts of obtaining money by false pretense.
Mr. Grindley is charged with eight counts of aiding and abetting obtaining money by means of false pretense.
It is alleged that between December 2016 and May 2018, Mr. Grindley aided and abetted Dr. Bahado-Singh, in the process of fraudulently claiming disbursements from Petrojam amounting to US$73,620.
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