It has been revealed that J$20 million has been defrauded in the scam at the Accountant General's Department.
Five persons charged in connection with the racket, appeared in the Corporate Area Resident Magistrate's Court on Friday and were remanded until Tuesday.
They are Julio Parkinson, 35 - an employee with Accountant General’s Department, his sister Meisha Parkinson 27, Kemar Lewis 25 and Ramesh Watson.
Investigators allege that between February and October this year, Parkinson, an accountant, created life certificates for at least three deceased persons whose pensions were suspended.
The co-conspirators then transferred J$20-million to Scotiabank accounts.
The five suspects were detained during Tuesday's raid at the Accountant General's Department.
The charges include conspiracy to defraud, money laundering and obtaining money by false pretense.
Miss Parkinson is also charged with attempting to pervert the course of justice.