The High Court of South Africa Gauteng Local Division, Johannesburg, has ordered that the assets of former parliamentarian Vincent Smith, including his property, wholly-owned company Euro Blitz 48 (Pty) Ltd and his family trust be restrained up to the value of R46-million.
In the presence of his attorney, Smith was given a copy of the restraint order on February 25, which directs him to hand over control of his assets to a court-appointed curator.
The restraint order granted to the National Director of Public Prosecutions 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, but 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.
ALSO READ: Bosasa whistleblower denied bail
Smith and the other named related parties are prohibited from dealing with and/or disposing of the restrained property while the restraint order is in place.
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.
On October 1, 2020, Smith, Euro Blitz 48 and their co-accused, Angelo Agrizzi, appeared in the Palm Ridge Specialised Crimes Court on fraud and corruption charges arising from gratifications to the approximate value of R800 000 accepted by Smith and Euro Blitz from Agrizzi and/or Bosasa.
Smith served on and chaired 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 amid allegations that the contracts were corruptly awarded.
ALSO READ: Ex-ANC MP, Vincent Smith faces charges of corruption
The restraint order is also 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.
The Investigating Directorate head, advocate Hermione Cronje, stated in the restraint application before Justice Matojane why more than R800 000 should be restrained.
“The evidence reveals a pattern of corrupt activities that took place over approximately a decade, during which Smith unlawfully enriched himself in exchange for the use of his political influence. He used Euro Blitz 48 as a money-laundering vehicle to receive proceeds of those unlawful activities on his behalf and conceal the nature and ownership of the proceeds.”
Smith also faces charges of tax fraud and evasion for receipt of payments not declared to Sars.
Smith’s assets and those of Euro Blitz 48 and Smith’s family trust will be restrained pending the finalisation of the fraud and corruption case and/or the tax charges.
ALSO READ:
Ex-ANC MP, Vincent Smith faces charges of corruption
Bosasa whistleblower denied bail
