Jared Watson, the nephew of late Bosasa boss Gavin Watson, has laid criminal charges against former COO Angelo Agrizzi and CFO Andries van Tonder.
The charges include theft, fraud and money laundering to the tune of over R37.5m.
Speaking to News24 on Wednesday, Jared said the charges concerned certain transactions.
"The charges predominantly are for transactions approved by Agrizzi and Van Tonder on behalf of Bosasa to companies owned and operated by them."
Jared alleged that "these companies provided no goods or services to Bosasa and was merely to misappropriate funds out of Bosasa and into their personal hands".
Agrizzi described the move as "strange", saying it "doesn't make sense".
In September, the Sowetan reported that the Watson family blamed Agrizzi for Gavin Watson's death.
They also alleged he was involved in stealing the late Bosasa boss' phone after the crash that claimed his life in August.
Agrizzi, however, denied these allegations.
In one of the most anticipated sittings of the Zondo commission of inquiry into state capture this year, Agrizzi took the stand and spilled the beans, going into great detail about Gavin Watson's role in government bribes.
Watson himself was due to appear before a tax inquiry the same week he died.
In March, SARS approached the High Court in Pretoria to establish a tax inquiry to examine the veracity of the allegations and establish the truth over possible tax offences dating back to 2010.
Jared previously told News24 his uncle had evidence that Agrizzi lied during his testimony at the commission.
Watson died in August after the company car he was driving, slammed into a concrete pillar near OR Tambo International Airport.
Van Tonder did not respond to calls for comment by News24.