Finance: Men acquitted of Fidentia con

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Two men accused of duping former Fidentia boss J Arthur Brown into buying shares for R160 million in Webworths were found not guilty of fraud yesterday. Prosecutor Max Orban alleged that the shares were worth much less, and that the deal was based on false financial statements prepared and audited by chartered accountant David Warren. At the time of the transaction, between 2005 and 2006, Webworths was owned by the MI Cunningham Trust belonging to Melvyn Ivor Cunningham. Magistrate Sabrina Sonnenberg ruled there was no evidence against Cunningham and Warren on which the court could convict them. – Sapa

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