Former Bosasa Chief Operating Officer Angelo Agrizzi was released on bail by the High Court in Johannesburg.
The amount of the bail will be equivalent to the value of his total overseas assets.
Moreover, Agrizzi’s bail is attached with strict conditions.
These include handing over his passports to the investigating officer by3 November and showing up at Douglasdale Police Station every Friday.
He must also disclose all his assets and hand over the title deeds to his Italian property.
Additionally, he is banned to leave Gauteng or approach 150 meters from international departure points in South Africa.
Judge Ratha Mokgoatlheng overturned Palm Ridge Magistrate’s Specialised Commercial Crime Court decision.
Agrizzi is currently hospitalised in a private hospital, undergoing medical treatment.
According to Agrizzi’s lawyers, he was removed from the ventilator but remains in Intensive Care Unit (ICU).
His legal team said they were relieved that he got bail.
The Department of Correctional Affairs also charged the family R66,000 for nine guards and transportation.
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