Bail ruling reserved for man accused of stealing R200m cocaine consignment.

The Port Shepstone Magistrate's Court has reserved judgment in the bail application of businessman Lucas Legabe, who is accused of stealing a cocaine consignment worth an estimated R200 million.

The State concluded its arguments opposing his release on Thursday.

The case relates to the theft of a 541kg cocaine consignment which was seized in June 2021 after Hawks investigators were called to inspect a container at the CHC container depot in Isipingo that was initially suspected of containing 27kg of drugs.

The cocaine was later transported to the Hawks’ Port Shepstone offices, where it was stored before the consignment was stolen during a burglary in November 2021.