Krejcir's business manager denied bail – again

2013-12-19 10:07

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Czech businessman Radovan Krejcir’s Money Point business manager Ivan Savov remains behind bars after being denied bail for the second time.

Savov was denied bail by the Johannesburg Specialised Commercial Crime Court in November and subsequently turned to the High Court in Johannesburg for a second bid for release.

However, this court also denied him bail yesterday, with Judge Phillip Burochowitz referring to Savov as “a jack of all trades who would do anything for money”, The Times reported today.

At the Johannesburg Specialised Commercial Crime Court in November, Magistrate Brian Nemavhidi said Savov had failed to show it was in the interest of justice for him to be released.

“There is a very strong case against the accused,” he said at the time.

Savov (39) faces 10 counts of fraud and one of money laundering.

The Times reported that these charges were related to the alleged theft of R12.8 million from the account of Bloemfontein Correctional Contracts.

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