INVESTIGATING DIRECTORATE’S (ID) R46 MILLION RESTRAINT ORDER AGAINST VINCENT SMITH CONFIRMED

2 August 2021

The High Court of South Africa Gauteng Local Division, Johannesburg, has confirmed the restraint order against the assets of former parliamentarian, Vincent Smith, his wholly-owned company Euro Blitz 48 (Pty) Ltd and his family trust to the value of R46 million.

Today's court ruling confirms the interim restraint order handed down 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 POCA.

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. The court-appointed curator from PWC will 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 on 01 October 2020, 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.

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.

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.

Statement issued by Sindisiwe Seboka, NPA Investigating Directorate Spokesperson, 2 August 2021