FISHROT accused, Ricardo Gustavo, today failed to convince the High Court why he should be granted bail, and why Magistrate Ingrid Unengu’s decision to deny him bail should be set aside.
This follows a ruling handed down by high court Judge Kobus Miller.
Gustavo last month approached the Magistrate’s court to grant him bail.
He had offered to pay an amount of N$100 000 with the assistance of his friends and family members, as well as two of his properties.
He also told the court that as a result of his incarceration, he has no penny to his name as his accounts were frozen.
Gustavo at the time told the court that he wanted to get bail to support his children and his ex-wife, as well as his elderly parents, who all financially depend on him.
He also assured the court that he would not abscond as he intends to clear his name, adding that he has been living his life with honesty and integrity.