State accuses Agrizzi of failing to disclose assets, opposes bail application
Updated | By Sinethemba Madolo
The state has cited Angelo Agrizzi’s failure to disclose all his assets as the reason for opposing the bail application by the former Bosasa COO.
Agrizzi appeared in the Palm Ridge Magistrate’s 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.
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#VincentSmith arriving at the Palm Ridge Magistrate Court this morning for his fraud and corruption case.
— Jacaranda News (@JacaNews) October 14, 2020
Bosasa former COO is expected to join him. pic.twitter.com/W8WyZVarNX
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.
"Italian authorities have confirmed that both Mr and Mrs Agrizzi opened bank accounts in Italy into which the funds liquidated in South Africa were transferred.
"On 5 March 2019, Agrizzi bought real estate/property in Castel Del Piano in Italy for €880 000 as well as a luxury vehicle.
"A bank account in the name of Agrizzi’s wife has a balance of €714 419.50. The Asset Forfeiture Unit are taking steps to seize the Italian assets.”
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