Johannesburg - Czech businessman Radovan Krejcir's Money Point business manager, Ivan Savov, was denied bail by the Johannesburg Specialised Commercial Crime Court on Friday.
“He did not show that it would be in the interest of justice for him to be granted bail,” Magistrate Brian Nemavhidi ruled.
“There is a very strong case against the accused.”
Nemavhidi said the fact that Savov had only been in South Africa for 12 years and still had family in Bulgaria meant he did not need a passport to leave the country. He said it was easy to leave the country at the borders.
Earlier, the court heard that Savov was only arrested after the “hype” surrounding Krejcir. He faces charges of fraud and money laundering.
“It seems as if my prosecution was only an afterthought of the recent bomb blast and the hype surrounding Radovan Krejcir,” Piet du Plessis, for Savov, read from Savov's affidavit.
“I was aware of the investigation but chose not to abscond and helped with investigations.”
Du Plessis was reading into evidence an affidavit by Savov for his bail application.
Savov, 39, said he was a Bulgarian with permanent residence in South Africa and had been living in the country for 12 years. The court heard Savov was helping the police with their investigations into a bomb blast at the Money Point Gold and Diamond Exchange in Bedfordview, on the East Rand, on November 12, when the police started questioning him and he was arrested.
Savov told the court he could not afford to destroy his business relationships and would not leave the country if granted bail.
Savov, and co-accused, Absa bank employee, Voyolwethu Vuyo Koboka, are accused of fraud and money laundering. They were arrested on November 14.
The case against Koboka was postponed to February 4 because his defence was not present.
In the morning, Absa bank employees Naledi Clifford None, 26, and Dimakatso Surprise Kunupi, 32, were released on R3000 bail each. They face the same charges.
Kunupi was fired following an internal disciplinary hearing. None was suspended. They were arrested on November 20.
In their affidavits submitted to court as part of their bail applications, both None and Kunupi denied knowing Savov.
Prosecutor Richard Tshabalala said the charges against the four involved more than R12 million.
According to the draft charge sheet, Koboka allegedly made unauthorised transfers amounting to R12m between January 26 and February 2 from an account held by Bloemfontein Correctional Contracts.
The money was allegedly transferred to an attorney's account before being moved into Savov's bank account.
On November 12, two people were killed and five were injured in an explosion at Money Point. The charges against Savov and Koboka are not related to the blast.
After bail was denied Savov spoke to his lawyers before he was escorted out of court.
All four are expected back in court on February 4.
Sapa