Durban - The feud between the Watson family and their one-time blue-eyed boy, chief operating officer (COO) Angelo Agrizzi has taken another turn, with the wealthy family accusing the latter of theft.
On Wednesday, Bosasa’s executive Jared Watson, a nephew of the late founder of Bosasa Gavin Watson, laid criminal charges accusing Agrizzi and former Bosasa chief financial officer (CFO) Andries Van Tonder, for stealing R37.5 million while still under the employ of the facilities management company between 2012 and 2017.
Jared said the two former employees worked on a scheme where they defrauded the company using companies they owned, hence the decision. He said the company conducted a detailed forensic investigation and uncovered the alleged crime.
“Basically Agrizzi and Van Tonder owned CCs (close corporations). Those CCs would invoice Bosasa for example for 100k. Agrizzi and van Tonder as the COO and CFO would then 'receive' those invoices. Agrizzi and van Tonder would then approve those invoices together, as the two of them could approve any transaction if they both signed, and that approved invoice would then be paid by the company,” he said.
The case, according to Jared, was opened at Krugersdorp police station on Wednesday.