Smith’s 48 Million assets to be seized

News South Africa

Tebogo Msimanga |

The High Court in Johannesburg has ordered that the assets of former Parliamentarian Vincent Smith, including his property, wholly-owned company Euro Blitz 48 (Pty) Ltd, and his family trust, to the value of R46 Million be restrained.

Investigative Directorate Spokesperson Sindisiwe Twala said Smith, in the presence of his attorney, was given a copy of the restraint order on Thursday 25 March 2021 which directs him to hand over control of his assets to a court-appointed curator.

“The restraint order granted to the National Director of Public Prosecutions (NDPP) under section 26 of the Prevention of Organised Crime Act (POCA) extends not only to Smith’s property, and that of his family trust and his company Euro Blitz 48, but also to certain property of his daughter, Brumilda Smith, and the property of any other person or entity that received an affected gift under section 12 of POCA. “ explained Twala.

She also said Smith and the other named related parties are prohibited from dealing with and/or disposing of the restrained property while the restraint order is in place.

It is alleged that Smith used his political influence as a member of Parliament for the ruling party, to shield BOSASA from accountability for corrupt officials in the Department of Correctional Services. The officials awarded BOSASA contracts worth billions of rands.

“Smith also faces charges of tax fraud and evasion for receipt of payments not declared to SARS.” added Twala.

She said Smith’s assets (and those of Euro Blitz 48 and Smith’s family trust) will be restrained pending the finalization of the fraud and corruption case and/or the tax charges.

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