Home South Africa News Court orders seizure of R46 million worth of former ANC MP’s assets

Court orders seizure of R46 million worth of former ANC MP’s assets

Vincent Smith

Parliamentarian Vincent Smith will have his assets of up to R46 million seized pending further investigations, the Johannesburg high court has ordered.

Last year Smith, his company Euro Blitz 48, and their co-accused Angelo Agrizzi appeared in the Palm Ridge Specialised Crimes Court on fraud and corruption charges arising from gratuities of about R800 000 accepted by Smith and Euro Blitz from Agrizzi and/or Bosasa.

Trevor Hills of PWC has been appointed by the court as the curator bonis to take control of and preserve the assets pending the outcome of criminal proceedings instituted against Smith and Euro Blitz 48.

These include properties, wholly-owned company Euro Blitz 48 (Pty) Ltd, and his family trust.

The restraint order granted to the National Director of Public Prosecutions (NDPP) extends not only to Smith’s property but to his family trust and his company, Euro Blitz 48, and also to certain property of his daughter, Brumilda Smith, and the property of any other person or entity that received an affected gift under section 12 of POCA.

According to the Investigating Directorate statement: “The restraint order is necessary to preserve assets while investigations continue into additional unlawful activities from which Smith derived corrupt benefits not disclosed, either to SARS or the Registrar of Parliamentary Members’ interests”.

Smith served on and chaired the parliamentary portfolio committee that had oversight of the Department of Correctional Services.

This was while Bosasa was under scrutiny for contracts worth more than R1 billion from the Department amidst allegations the contracts were corruptly awarded.

Smith also faces charges of tax fraud and evasion for the receipt of payments not declared to SARS.

-The Citizen

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