Former Bosasa COO Angelo Agrizzi denied bail.

CHARLES MOLELE

FORMER Bosasa chief operations officer (COO) Angelo Agrizzi’s bail application has been denied by the Palm Ridge’s Specialised Commercial Crimes Court after he was charged with corruption and fraud earlier on Wednesday.

Aggrizzi, who is currently out on bail of R20 000 for another matter, is now headed to jail until his trial in December.

He was arrested along with former African National Congress (ANC) MP Vincent Smith, who was granted bail of R30 000.

The state opposed bail, stating that Agrizzi lied under oath on his previous affidavit and was considered a ‘severe flight risk’.

The state argued that Agrizzi was a flight risk because he failed to disclose offshore assets to the Hawks in Pretoria, including Luno Bitcoin & Cryptocurrency and a bank account in Italy with over 700 00 euros in cash.

The state also said he failed to disclose that his house worth R13.5 million in Johannesburg is owned under a trust.

Agrizzi also failed to pay his bond owed R8.7million and now Absa bank is auctioning his property.

The state also said Agrizzi did not hand over his Italian passport and transferred a total amount of R11.98 million to his offshore account to a foreign investment.

His wife has also made deposits to an offshore account.

The Hawks contended that Agrizzi lied in his previous bail affidavit dated Febraury 6 2019.

Agrizzi previously told the court: “My wife and I own movable assets valued at approximately R2.6m and immoveable property valued at approximately R14m.”

The true position, said the National Prosecuting Authority, is that as at 6 February 2019, the Agrizzis owned movable assets (excluding household furniture, jewellery and art) of R35.6m and not R2.65m.

Delivering the bail judgment on Wednesday afternoon, magistrate Philip Venter said Agrizzi should have disclosed these to the state.

“Why not disclose upfront? On two occasions, in the commercial crime court in Pretoria, and this morning, nothing is said about it [offshore investments],” said Venter.

“The biggest headache of the NPA is extradition to South Africa to stand trial in order to account for allegations against them. I cannot add to the headache. With that said, Mr Agrizzi, your application for bail has been dismissed,” said Venter, adding that he does not want to create another Gupta saga by failing to ensure Agrizzi stands trial.

Agrizzi is expected back in court on December 3.

(COMPILED BY INSIDE POLITICS STAFF)

LEAVE A REPLY

Please enter your comment!
Please enter your name here