Two American brothers appeared in Supreme Court last week to deny money-laundering charges.

Jeff Bajayo, 67, from New York, and Eli Bajayo, 59, from Florida, pleaded not guilty to possessing $11,103 in cash and a Rolex Yacht Master II watch, worth $23,900, which they knew to represent the proceeds of crime, between March 5 and 8.

The elder brother further denied possessing another Rolex watch that he knew to represent the proceeds of criminal conduct on or about December 19 last year.

While both men are American citizens, defence lawyer Susan Mulligan told the court that they are staying in St George’s while the matter is before the courts.

Puisne Judge Carlisle Greaves released the brothers on bail, ordering that the matter be set down for mention.