News24 | UPDATE | ‘Billionaire’ businessman Antonio Iozzo among 3 in court for alleged fraud

Antonio Iozzo at his The 11th Floor restaurant in Johannesburg.

Antonio Iozzo/Supplied

Businessman Antonio Iozzo and two other men have been arrested in connection with an alleged fraud and forgery syndicate involving losses estimated at R800 million.

The 49-year-old Iozzo appeared alongside Daniel Werner Roets, 43, and Abraham Johannes Van Rensburg, 56, in the Palm Ridge Specialised Commercial Crimes Court last Thursday.

The three were arrested after the Hawks executed warrants of arrest linking them to an alleged fraud and forgery scheme.

According to Hawks spokesperson Lieutenant Colonel Granville Meyer, Iozzo and his co-accused allegedly forged the complainant’s signature at residential and workplace premises in Brackenhurst.

“These fraudulent documents were then submitted to the Master’s Office in Pretoria to officially remove the victim as a trustee,” he said.

“This unlawful action directly resulted in the victim losing approximately R800 million in financial returns.”

Iozzo, who is reported to be a billionaire, heads several companies in the insurance, fitness, hospitality and property sectors.

He is the founder and CEO of Alpha, Body Action Gym, The 11th Floor and Cocktail Bar, and Über Property Developments.

His debut memoir, Slaying the Dragon, became an international bestseller in 2024. The book is based on his experience of managing a multibillion-rand empire while fighting a crippling opioid addiction.

Iozzo and his co-accused were each granted R50 000 bail and are expected back in court on 5 October.