JOHANNESBURG - Former Bosasa COO Angelo Agrizzi has been granted bail by the High Court in Johannesburg.
The bail amount will be equal to the total value of his overseas assets.
Agrizzi's bail comes with stringent conditions.
These include handing over his passports to the investigating officer by 3 November and reporting to the Douglasdale police station every Friday.
He must also disclose all his assets and hand over the title deeds to his Italian property.
He is further barred from leaving Gauteng or coming within 150m of South Africa's international points of departure.
Judge Ratha Mokgoatlheng has overturned the ruling made by the Palm Ridge magistrate's Specialised Commercial Crimes Court.
Agrizzi is currently at a private hospital, receiving medical treatment.
According to Agrizzi's lawyers, he has been taken off the ventilator but remains in ICU.
His legal team said they're relieved that he's been granted bail.
The Department of Correctional Affairs has also charged the family R66,000 for nine guards and transport.