The Johannesburg High Court on Monday confirmed the restraint order against the assets of corruption-accused former ANC MP, Vincent Smith, to the value of R46 Million.
The order included Smith’s wholly-owned company Euro Blitz 48 as well as his family’s trust.
According to the National Prosecuting Authority’s (NPA’s) Investigating Directorate (ID), the ruling confirmed the interim restraint order handed down earlier this year in February 2021.
“The order granted to the National Director of Public Prosecutions [NDPP] under Section 26 of the Prevention of Organised Crime Act [POCA] extends not only to Smith’s property and that of his family trust and his company Euro Blitz 48 but also to a 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 the Prevention of Organised Crime Act,” said the ID’s spokesperson Sindisiwe Seboka in a statement.
This means that Smith and the other named parties are prohibited from dealing with or disposing of the restrained assets while the restraint order is in place.
The court appointed a curator from PricewaterhouseCoopers (PwC) whom would continue exercising control of the assets, pending the outcome of criminal proceedings instituted against Smith and Euro Blitz 48.
The asset forfeiture application stems from the corruption case enrolled at the Palm Ridge Specialised Crimes Court by the ID in October 2020.
Smith, Euro Blitz 48 and their co-accused, former Bosasa chief operating officer Angelo Agrizzi, face charges of fraud and corruption related to allegations of gratifications to the approximate value of R800,000 accepted by Smith and Euro Blitz from Agrizzi and Bosasa.
“Smith served and chaired on the parliamentary portfolio committee that had oversight of the Department of Correctional Services while Bosasa was under scrutiny for winning contracts worth more than R1 billion from the department amidst allegations that the contracts were corruptly awarded,” the ID said.
Smith’s assets and those of Euro Blitz 48, including his Smith’s family trust, are restrained pending the finalisation of the fraud and corruption case.
Compile by Thapelo Lekabe