A Gqeberha accountant's appeal against his refusal of bail has been dismissed in the High Court.
Fifty-one-year-old Jonathan Blow is accused of stealing over R40 million from Sunridge Spar as well as R11 million from a franchise in Despatch.
Blow approached the Gqeberha High Court after he was denied bail by a Magistrate at the New Law Courts in April.
In his notice of appeal, he said that the Magistrate erred in finding that the interests of justice did not permit his release on bail, specifically that there was a strong likelihood that if released on bail he might evade trial, interfere with witnesses, or tamper with evidence.
Court documents state that Blow was self-employed as a director of PE Accounting Solutions (Pty) Ltd (PEAS), which closed down in February.
In March, the investigating officer received a tip-off that Blow was on the brink of leaving the country.
According to court documents, Blow had been granted a British ancestry Visa, which permitted him to enter and leave the UK between 13 March to 11 June.
He had also put his two properties in Walmer on the market.
In his affidavit in support of his bail application, Blow contended that the move to the UK was not meant to be permanent.
During a previous appearance, Blow's legal representative Hannelie Bakker stated that Blow was seeing a psychologist, who is treating him for an online gambling addiction, adding that there were exceptional circumstances for him to be granted bail.
Judge Vuyokazi Noncembu upheld the Magistrate's Court finding.
Blow remains in custody until his next court appearance on 15 June.
