Krejcir's business manager again denied bail

2013-12-19 11:01
Ivan Savov, a manager at Czech businessman Radovan Krejcir's business Money Point, appears in court for fraud and money laundering. (Werner Beukes, Sapa)

Ivan Savov, a manager at Czech businessman Radovan Krejcir's business Money Point, appears in court for fraud and money laundering. (Werner Beukes, Sapa)

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Johannesburg - Czech businessman Radovan Krejcir's Money Point business manager Ivan Savov will remain behind bars after being denied bail for the second time, The Times reported on Thursday.

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

However, this court also denied him bail on Wednesday, with Judge Phillip Burochowitz referring to Savov as "a jack of all trades who would do anything for money", the newspaper reported.

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 R12.8m from the account of Bloemfontein Correctional Contracts.

Read more on:    radovan krejcir  |  johannesburg

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