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Agliotti: Sars barking up the wrong tree

Sars believes the convicted drug dealer is keeping millions stashed in European bank accounts.

FILE: Glenn Agliotti was cleared of the murder of mining boss Brett Kebble at the High Court in Johannesburg on Thursday, 25 November 2010. Picture: Werner Beukes/SAPA

JOHANNESBURG - Glenn Agliotti said the South African Revenue Service (Sars) is barking up the wrong tree by going after overseas bank accounts which they believe contain enormous amounts of hidden cash.

Agliotti, a convicted drug dealer and former Brett Kebble murder accused, is the subject of a Sars sequestration application which is expected to be finalised in court in the next two weeks.

According to an application filed in October last year, Sars said Agliotti could be holding funds in European bank accounts in Geneva and Guernsey.

Sars believes he is doing so to put the money beyond the reach of South African creditors.

The revenue service uncovered details of the Guernsey account when investigators found a cheque book in Agliotti's safety deposit box during a 2010 raid.

They believe his lifestyle is that of an extremely wealthy man who travels extensively.

However, Agliotti says Sars has always known about his offshore accounts and says he is not stashing millions and, if he did, he wouldn't be in South Africa.

Agliotti is not opposing the sequestration application as he believes it would be pointless.

Once the application is finalised, a curator will be appointed and an inquiry held.

A trustee could apply for the powers to investigate Agliotti's offshore interests.

Meanwhile, Eyewitness News has learnt that Sars has also obtained judgments against the three self-confessed killers of Kebble and is rolling out sequestration applications against them.