Angelo Agrizzi jail courts

Photo: Twitter

Angelo Agrizzi jailed: Here’s why he has been put behind bars

The Bosasa bubble has burst: Angelo Agrizzi is heading for jail on Wednesday – here’s why the courts have rejected his bail application.

Angelo Agrizzi jail courts

Photo: Twitter

Former Bosasa executive Angelo Agrizzi, who had a hand in running one of South Africa’s most sophisticated bribery networks, will spend his first night in jail on Wednesday. This, after Agrizzi saw his bail application denied in the Palm Ridge Magistrate’s Court for a ‘multitude of offences’.

Why was Angelo Agrizzi denied bail?

Aggrizzi, who is currently out on bail of R20 000 for another matter, is now behind bars. He was arrested along with former ANC MP Vincent Smith, who was granted bail of R30 000. The State opposed bail stating that Agrizzi had lied under oath on his previous affidavit. In an official statement, the prosecution argued:

“He failed to disclose that his house worry R13.5 million is owned under a trust. He then failed to pay his bond owed R8.7 million and now the bank is auctioning his property. He further did not hand over his Italian passport . He also transferred R11.98 million to his offshore account to a foreign investment . His wife also made deposits to an offshore account.”

State prosecution statement

Bosasa bigwig behind bars

Those factors were enough to sway Magistrate Philip Venter into siding with the state. He also confirmed that he saw Angelo Agrizzi as a flight risk, suggesting that the disgraced executive had the means and the motivation to ‘abscond’ before his next court appearance. Venter said his decision to jail Agrizzi was made ‘in the interests of justice’

“Bail is a means to secure the attendance of an accused in a hearing. It is not a punishment. It is in the interest of justice that Mr. Agrizzi stands trial until it’s finalised. As a starting point, the strength of the state’s case is a big consideration.”

Magistrate Philip Venter