Court gives reasons for corruption-accused Micheal Lomas' high bail amount

JOHANNESBURG - The Johannesburg High Court has set a steep amount for the bail of corruption-accused Micheal Lomas, saying he is a wealthy man who will be able to pay the amount.

The 77-year-old former engineer faces fraud and corruption charges for R1.4 billion that was meant for the repair of the Kusile power station in Mpumalanga.

He was granted R2 million bail with stringent conditions after his lawyers argued that his medical condition warranted that he be released.

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In September, Lomas was extradited back to South Africa from the UK where he is a citizen.

It's clear from Monday's judgment that Lomas won't have trouble paying the R2 million bail handed down by the Johannesburg High Court.

But even once he has made the payment, he must meet the conditions stipulated in Judge Rean Strydom's judgment.

This includes his placement in a care home similar to the one he was kept at in the UK.

"The applicant should within 48 hours of his release on bail obtain a smart cellular phone with a location monitoring capacity, which should be enabled, and the particulars of which should be provided to the IO, for the IO to be able to monitor the applicant's location at all times. This phone should always remain charged."

Judge Strydom also gave reasons for Lomas' hefty bail.

"The bail amount should be high considering the seriousness of the counts the applicant faces, and the possible sentence which could be imposed. The applicant is a wealthy man who will be able to pay the amount."

The trial involving Lomas and his eleven co-accused is set down for July next year.