Alleged underworld boss Igor Russol has been denied bail in the Cape Town Magistrates Court on Monday.
Known as "The Russian", Russol was arrested in February and charged with intimidation, extortion and theft.
His two co-accused, Kevin Bailey and Simon Scott, were released on bail in February.
The charge of extortion involves R730,000 and a luxury vehicle.
The state opposed Russol’s bail application as they said he would be a danger to the public and would intimidate witnesses.
However, the defence argued he was a businessman who had been wronged and a father of two children who has no previous convictions or pending cases.
The state based much of its evidence on a newspaper article, in which Russol admitted to manipulating auctions, and forcibly removing other bidders.
Russol is being held at the hospital section of Goodwood Prison because of a heart condition.
He was clearly surprised when he was denied bail and his case was postponed until 13 March.
(Edited by Lindiwe Mlandu)