Savoi’s R23 mln to be restrained

2011-05-25 00:00

ATTEMPTS to enlist the aid of foreign states in the bid to restrain all assets of corruption and fraud accused Gaston Savoi have been abandoned.

A list of agreed assets that are to be restrained by a court-appointed curator pending the outcome of criminal charges against Savoi and his co-accused was made an order of court yesterday.

The agreement follows an application by Savoi’s company, Intaka Holdings (Pty) Ltd, earlier this year to rescind an urgent court order obtained by curator Hendrik Hattingh to issue “letters of request” for assistance in the investigation to foreign states, including the British Virgin Islands, the Republic of Panama, Republic of Uruguay, Monaco and Switzerland.

That order was rescinded under an agreement finalised in the high court in Pietermaritzburg yesterday and Hattingh was ordered to take immediate steps to revoke any proceedings he already begun in terms of the order.

Simultaneously a list of additional assets that will be restrained pending the outcome of the criminal proceedings was drafted into the court order.

These include all funds held in a specified Swiss bank account, $100 000 (R699 760) as well as R805 569,39 held in trust on behalf of Savoi, both of which are to be transferred to the curator within seven days, R4 million to be received for the sale of Intaka Nutri (Pty) Ltd and four Tokai (Cape) properties registered in the name of the Savoi Family Trust.

Also to be restrained is R16,1 million that will become available from the proceeds of a commercial transaction in Angola for the delivery of water purification plants of Intaka Investments (Pty) Ltd, and a further R2 079 193 from the proceeds of the company’s ongoing commercial transactions.

Savoi is among 15 individuals and four companies facing charges in KwaZulu-Natal of tender fraud and corruption arising from allegations that Intaka Holdings supplied water purification and oxygen plants to provincial hospitals in the province at inflated prices. Savoi and several co-accused face similar allegations in the Northern Cape.

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