Man who stole from South Africa and transferred millions out of the country, bought Italian mansions, Ferraris, and Bitcoin ordered to pay back R1.6 billion
Former Bosasa COO Angelo Agrizzi, who helped run one of South Africa’s largest corruption networks, has been ordered to repay the state more than R1.66 billion.
This comes after he channelled millions out of the country and spent them on luxury properties, Ferraris, cryptocurrency, and other assets.
The Gauteng High Court in Pretoria granted a confiscation order in October 2026, which marked a significant step in the National Prosecuting Authority’s (NPA) efforts to recover money generated through Bosasa’s corrupt government contracts.
Agrizzi served as Bosasa’s chief operating officer from 1999 to 2016 and became a central figure in the company’s corruption scandal after falling out with its former chief executive, Gavin Watson.
He later became a state witness and delivered 13 days of explosive testimony at the Zondo Commission of Inquiry into State Capture in January 2019.
His testimony exposed how Bosasa allegedly used millions of rand in cash bribes to secure lucrative government contracts, mostly from the Department of Correctional Services.
Agrizzi admitted to managing and preparing approximately R75.7 million in cash intended for bribes to government officials, including former president Jacob Zuma.
The Zondo Commission subsequently found that Bosasa had operated as an industrial-scale corruption enterprise.
The company secured government contracts worth approximately R2.37 billion while its executives allegedly used fraudulent invoices and other schemes to generate cash for bribery payments.
However, the money involved in the scandal did not only disappear through payments to public officials.
Investigations into Agrizzi’s finances uncovered substantial assets and wealth that he had not disclosed to authorities.
These included two luxury apartments in Selvazzano Dentro, Italy; a property in Johannesburg’s Dainfern Golf Estate; luxury vehicles, including Ferraris and a BMW X5; and a collection of art, furniture and jewellery.
Investigators also identified millions of rand transferred into foreign bank accounts, as well as an undisclosed Bitcoin wallet reportedly holding R6.69 million.
The R1.66 billion order is not symbolic
Agrizzi had initially claimed that his personal property was worth approximately R2.6 million.
However, asset investigations uncovered wealth estimated at close to R35 million, including assets held through commercial interests and offshore arrangements.
NPA national spokesperson Kaizer Kganyago said the R1.66 billion order was intended to recover money obtained through Bosasa’s corrupt dealings, rather than serve as a symbolic punishment.
“It is not symbolic. It is the money that we want to recover from him,” Kganyago said in an interview with 702 Drive.
He explained that the amount was calculated by examining the money Bosasa received from Correctional Services and the involvement of the individuals implicated in the corruption.
“We looked at all the money that they got from Correctional Services, and then we calculated the involvement and common purpose of all of them in this process, and then we came to that figure,” he said.
While Agrizzi is unlikely to have the full amount available in cash, Kganyago said the NPA would investigate his assets, particularly properties held overseas, to determine how much could be recovered.
“One of the things that made the judges agree with us, among others, is the fact that he was not honest about his properties, especially the ones overseas,” he said.
The NPA intends to pursue assets in Italy through mutual legal assistance agreements between the two countries.
“This is not an extradition, but it will then be part of the arrangements that we have signed with all the countries, and specifically with Italy, in terms of mutual legal assistance,” Kganyago said.
He added that if investigators established that the full amount could not be recovered, the NPA could return to court to seek a variation of the order.
The NPA added that the criminal proceedings and financial recovery process relating to Agrizzi had been completed, but cases involving other people implicated in the Bosasa scandal would continue.
“The prosecution will now turn its attention to the other accused, including former Bosasa executive Linda Mti,” Kganyago said.
Loading ...