Travolta Extortion Plot -- Caught on Tape?

TMZ has learned Bahamian police have recordings of conversations in the alleged plot to extort millions from John Travolta.

We've learned Bahamian police are using the recordings in the investigation of Obie Wilchcombe, Pleasant Bridgewater and Tarino Lightbourne. As we first reported, the plotters haggled with Travolta's reps -- initially demanding $25 mil and then reducing their demand to the mid-teens. Some of those conversations were recorded.