Court denies bail to ‘flight risk’ Angelo Agrizzi
Former Bosasa COO Angelo Agrizzi's bail application has been denied by the Palm Ridge Magistrate’s Court.
Agrizzi appeared in court on Wednesday.
He was in court alongside former African National Congress (ANC) MP Vincent Smith, whom he allegedly corrupted with a string of bribes.
Smith's appearance was a brief one with his case postponed to December 3.
Agrizzi’s was more time consuming, with the state saying he failed to disclose assets totalling more than R30 million.
While delivering his judgment, Magistrate Philip Venter said Agrizzi has the financial means to leave the country and settle somewhere else.
Venter said Agrizzi had two opportunities to disclose his other assets but failed to do so.
"I am satisfied that Mr Agrizzi has the financial means t set up and sustain a comfortable lifestyle outside the country. As before me, it appears it could be Italy.
"Can be these fears and risks be addressed in a less evasive manner? If Mr Agrizzi wants to abscond, no bail will keep him in SA.”
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State accuses Agrizzi of failing to disclose assets, opposes bail application
The former Bosasa COO - in his affidavit - claimed that he has R2,5 million worth of removable assets, while the state alleges he in fact has asset worth R35,6 million. "He transferred R11.98 million and his wife transferred R11.99 million to off-shore accounts," the Investigating Directorate's Arno Rossouw told the court.
Venter acknowledged Agrizzi's ill-health but said that alone is not reason enough to grant bail.
Agrizzi's lawyer Mannie Witz argued that the money that was transferred into off-shore accounts was done legally and well before he was arrested.
But Venter said 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.
