Christopher Panayiotou can only afford R50,000 bail

The PE business man is accused of hiring two men to murder his wife, and wants to be released on bail.

FILE: Christopher Panayiotou in the Port Elizabeth Magistrates Court. Picture: Siyabonga Sesant/EWN.

PORT ELIZABETH - Alleged wife killer Christopher Panayiotou has told the court he can only afford bail of R50,000.

He will find out on Friday whether he will be granted bail following another postponement today.

The PE business man is accused of hiring two men to murder his wife, Jayde, in April for financial reasons.

Panayiotou claims to be worth over R3 million, but today his advocate Terry Price told the court his client can only afford to pay R50,000 if bail is granted.

Price also argued his client is not a flight risk and should be released on bail.

The businessman has surrendered his South African and Cypriot identity documents, as well as his driver's license.

The state argues Panayiotou has already demonstrated his ability to tamper with evidence when he expertly wiped data off his and his mistress' cell phones.

Prosecutor Marius Stander says if released, Panayiotou may also influence his former mistress Chanelle Coutts, who will be testifying against him.

Meanwhile, The prosecution has revealed four witnesses set to testify against the Panayiotou.

Stander says the state intends calling the key witnesses, including Coutts and accused number one Luthando Siyoli, who has turned state witness.

Siyoli was a bouncer at Panayiotou's bar and was the alleged middleman in the plot to kill Jayde.

He was also involved in a police sting operation to trap Panayiotou into implicating himself in the murder of his wife.

Stander has assured the court more witnesses may be called when the trial gets underway later this year.

Magistrate Abigail Beeton has told the prosecution she needs more clarity on the state case before she makes a ruling in the hearing.