We perform a model independent analysis of the chargino contributions to the
CP asymmetry in B -> Phi K(S) process. We use the mass insertion approximation
method generalized by including the possibility of a light right-stop. We find
that the dominant effect is given by the contributions of the mass insertions
deltaU_LL(32) and deltaU_RL(32) to the Wilson coefficient of the chromomagnetic
operator. By considering both these contributions simultaneously, the CP
asymmetry in B -> Phi K(S) process is significantly reduced and negative
values, which are within the 1-sigma experimental range and satisfy the b -> s
gamma constraints, can be obtained.Comment: 14 pages, LaTeX, 3.eps Figure
