Durban - Former Bosasa Chief Operations Officer Angelo Agrizzi has been granted bail.
On Friday, Judge Mokgoatlheng overturned a ruling by a lower court and granted Agrizzi bail in the form of a property (a villa in Italy) that he owns, to the tune of about R16 million.
Judgment took place despite Agrizzi's absence. He is currently in the ICU wing of a Johannesburg hospital where he is undergoing treatment for an illness. His legs have also been shackled and he is under police guard.
According to his lawyer, Daniel Witz, the State had requested some form of surety in order to secure his client's bail.
"After negotiations, the value of the property in Italy was put up as a bail amount. Mr Agrizzi will give a guarantee that should he evade his trial or his bail revoked that the National Prosecuting Authority would inherit the property. The property was purchased for around €880 which is give or take R16m or R17m," he said.
As part of Agrizzi's bail conditions, he has to hand over all his passport and travel documents as well as report to a police station every day between 8am and 6pm and not to change his address or contact any of the witnesses in the matter against him.
He added that the stamped court order will be handed over prison authorities and the officers currently guarding Agrizzi in hospital, will be called off and his shackles removed. He said the documents have to be handed to the authorities on or before November 10 or bail will be revoked.
Witz said the process has already begun and once Agrizzi is able to sit up and sign, the documents will be handed over.
Agrizzi is facing corruption charges for allegedly giving kickbacks to former ANC MP Vincent Smith.
Agrizzi’s previous bail application had been denied after the State made representations in court he had failed to disclose he had made several investments in Italy, including the purchase of a house, a luxury car and had over around R13.5 million in cash in offshore accounts.