'Flight risk' Agrizzi denied bail after failing to disclose offshore millions
Agrizzi is expected to remain in custody until his joint appearance with former ANC MP Vincent Smith in December.
It's alleged that Agrizzi paid a string of bribes to Smith when he was the COO of the corruption-accused facilities management company Bosasa (now named African Global Operations).
They are both facing fraud and corruption charges.
While Smith is currently out on bail, his co-accused Agrizzi was denied it because he was deemed to be a flight risk.
On Wednesday, the court heard how Agrizzi made deposits of up to R24 million into offshore investment accounts, which he failed to declare in his affidavit before the court.
Several financial transactions to offshore accounts were recorded between 2018 and early last year, reports EWN.
It's understood he also purchased a property and luxury car in Italy. Prosecutors suggested that Agrizzi may have gradually moved assets overseas in preparation to flee the country.
Agrizzi is expected to appear alongside Smith on Thursday 3 December. For now, he'll be remanded in custody.
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