ID welcomes court decision on assets of former ANC MP Vincent Smith

The assets of Vincent Smith, his associates and his company will now remain in the hands of the State until the finalisation of the case against him.

Former ANC MP Vincent Smith appears in the Palm Ridge Magistrates Court on 14 October 2020 in connection with a fraud and corruption case. Picture: Xanderleigh Dookey/EWN

JOHANNESBURG - The Investigating Directorate has welcomed the High Court judgment involving the assets of former African National Congress (ANC) parliamentarian, Vincent Smith, his company Euro Blitz and his family trust valued at R46 million.

The order was confirmed by the High Court in Johannesburg after it was initially granted in February. The asset forfeiture application stems from the criminal case that started last year where Smith and co-accused, Angelo Agrizzi, were charged with fraud and corruption.

READ: Restraint order against former ANC MP Vincent Smith valued at R46 million

The assets of Smith, his associates and his company will now remain in the hands of the State until the finalisation of the case against him.

The investigating directorate’s Sindisiwe Twala said: “The investigating director, Advocate Hermione Cronje, is quite happy with the court's decision in which confirmed the restraint on assets owned by Mr. Vincent Smith, his family trust and parts of his daughter's assets.”

The restraint application included the added benefits received by Smith and Euro Blitz, including security upgrades at his home worth R200,000 and cash payments worth millions.

The State alleged the payments were made to Smith to silence opposition to Bosasa during meetings.

It said that all this happened during his time in Parliament, serving as the chair of their parliamentary portfolio committee which oversees the Department of Correctional Services.

By then, Bosasa was under scrutiny for a new contract worth more than R1 billion from the department, amid allegations that the contract was corruptly awarded.

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