Bahama Cops: Obie's Still in Our Crosshairs

Bahamian police are holding a news conference now, talking about the alleged John Travolta extortion plot.

Senior Assistant Commissioner Marvin Dames just said Obie Wilchcombe still is under investigation, and EMT Tarino Lightbourne has been arraigned on extortion conspiracy charges. Former Senator Pleasant Bridgewater already has been charged with conspiracy to commit extortion.

As TMZ first reported, the subject of the alleged plot is NOT a photo. Rather, it is a document.

Wilchcombe, who was a close friend of the Travoltas and appeared on Larry King's show the night Jett died, is a member of Parliament and former Minister of Tourism.

If convicted, each charge carries a maximum sentence of five years.

UPDATE 2:20 PM ET -- The prosecutor in the case objecting to bail for Lightbourne. He says police are looking for a "certain document" and if Lightbourne is release, they may not be able to find it.