By Johnathan Paoli
Former Bosasa chief operating officer Angelo Agrizzi has been ordered to pay the state R1.66 billion plus interest after the High Court found he benefited from the company’s corrupt activities and failed to fully disclose his financial affairs.
The National Prosecuting Authority (NPA) welcomed the judgment on Monday, saying it reinforced the principle that those who facilitate corruption must face financial consequences.
“It also reinforces the principle that the criminal justice system must pursue not only convictions and sentences, but also the proceeds and financial benefits derived from crime,” the NPA said.
Last week, the Gauteng High Court in Pretoria ordered Agrizzi to pay R1,666,582,825.73, together with interest calculated from 29 October 2026 until final payment.
The order followed a confiscation inquiry heard on 30 July, after the state sought to recover the financial benefits linked to Agrizzi’s involvement in Bosasa’s unlawful activities.
ALSO READ: Political murder numbers don’t add up as SA prepares to vote
The state argued that Agrizzi’s participation in the joint criminal enterprise justified attributing the proceeds of its unlawful activities to him, rather than limiting the amount to money he personally received or retained.
Agrizzi challenged the state’s attempt to hold him responsible for the full value, arguing that he was not the only person involved in Bosasa’s corruption network.
However, Judge Papi Mosopa rejected that, finding that Agrizzi’s conviction was based on his participation in the scheme alongside other executives in furtherance of a common purpose.
Under the Prevention of Organised Crime Act (POCA), a confiscation order can extend to benefits derived from related criminal activities and is not restricted to money directly received by a convicted person.
Mosopa found that Agrizzi had benefited from Bosasa’s unlawful activities and that the value of those benefits could be calculated by reference to the wider criminal enterprise.
The court also found that Agrizzi had failed to make full and frank disclosure of his financial affairs, including assets and property held abroad.
According to the judgment, Agrizzi failed to disclose a 50% interest in Spilcraft CC, several investments and annuities, and a R1.75 million loan to his brother. The court also raised concerns about his dealings with property in Italy, which had been pledged as security for his bail, and properties purchased in his daughter’s name.
Mosopa said the court was not satisfied that the amount that could be realised from Agrizzi’s assets was lower than the value of the proceeds attributed to him, and therefore declined to limit the confiscation order on that basis.
The NPA said that the order did not mean the state had already recovered the money.
“Importantly, the order creates a legal obligation on Agrizzi to pay the amount determined by the court. The amount recovered will depend on the assets available and the enforcement process,” the NPA said.
Agrizzi was also ordered to pay the legal costs of the proceedings, including the costs of two counsel.
The fees of curator bonis Johan Engelbrecht, of Icon Insolvency Practitioners, are to be paid from money derived from Agrizzi’s realisable property and paid to the state.
The NPA said the judgment was an important step towards financial accountability for corruption linked to Bosasa.
Agrizzi became one of the most prominent witnesses at the Zondo Commission, where he detailed how Bosasa allegedly used bribes and other benefits to secure and maintain government contracts.
In November last year, Agrizzi pleaded guilty to three counts of corruption and one count of money laundering arising from his involvement in Bosasa’s operations.
ALSO READ: OPINION| Lula’s return offers SA a chance to reshape global power
He was convicted and sentenced under a plea and sentence agreement with the NPA.
The agreement imposed 10 years’ direct imprisonment on each count, amounting to 40 years, wholly suspended for five years subject to conditions, including continued cooperation with investigators and providing truthful evidence about corruption involving Bosasa and public and private officials.
According to admissions recorded in the judgment, about R75.7 million in bribes was paid between 2000 and 2016 to secure contracts worth about R2.37 billion.
The scheme involved cash payments, fictitious and inflated invoices, money siphoned from peripheral operations and ghost employees used to generate illicit funds.
Agrizzi admitted that he had personally helped prepare cash bundles used to pay bribes.
The confiscation proceedings were separate from his criminal sentence because the plea agreement did not determine the amount to be recovered by the state.
The NPA said confiscation was intended to deprive offenders of the financial benefits derived from criminal conduct, rather than serve as an additional criminal sentence.
