THE Cape Town Regional Court on Tuesday morning turned down an application to withdraw the R500000 bail granted last November to Italian millionaire Vito Palazzolo. The Directorate for Public Prosecutions launched an application to have Palazzolo’s bail annulled on grounds that he has become a ”flight risk”. Palazzolo was last week given seven days by the Home Affairs Department to give reasons why his South African citizenship should not be revoked. Palazzolo initially faced a charge of statutory perjury relating to his application for South African citizenship. However, he is now to face seven charges — two of fraud, one of forgery and the uttering of a forged document, and three violations of the Aliens Act. Palazzolo has to appear in court again on March 29.