Court confirms Investigating Directorate's R46m restraint order against Vincent Smith
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DURBAN - FORMER ANC parliamentarian Vincent Smith's assets and those belonging to his company, Euro Blitz 48, as well as his family trust, will be restrained, pending the finalisation of the fraud and corruption case against him.
Today, the Gauteng High Court confirmed the restraint order.
Investigating Directorate (ID) spokesperson Sindisiwe Seboka said today's court ruling confirmed the interim restraint order handed down in February 2021.
She said the order granted to the National Director of Public Prosecutions, under Section 26 of the Prevention of Organised Crime Act, extended 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 Act.
"Smith and the other named parties are prohibited from dealing with and/or disposing of the restrained property while the restraint order is in place," Seboka said.
She said a court-appointed curator from PwC 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 criminal case enrolled by the ID in October last year where Smith, Euro Blitz 48 and their co-accused, Angelo Agrizzi, appeared in the Palm Ridge Specialised Crimes Court on fraud and corruption charges, based on allegations of gratifications to the approximate value of R800 000 accepted by Smith and Euro Blitz from Agrizzi and/or Bosasa.
Seboka said 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 amounting to more than R1 billion from the department, amid allegations that the contracts were corruptly awarded.