The fight is just starting: Brown
Former Fidentia boss J Arthur Brown has pledged to help all the people who invested in his companies to regain their money.
Brown, who was originally accused of stealing millions of rand from miners, widows and orphans, was convicted on two counts of fraud.
Brown, 43, addressed the media outside the Western Cape High Court this week after the prosecution and defence presented closing arguments before Judge Anton Veldhuizen and his two assessors.
“I am relieved the case is coming to an end,” said Brown, who faces a minimum of 15 years in jail for each of the two counts of fraud unless compelling reasons can be found why he should not get the minimum sentence.
In April, Brown pleaded guilty to two counts of fraud for misrepresentations he made when Fidentia handled investments for the Transport Education and Training Authority and the Mantadia Asset Trust Company.
In his plea he admitted he invested monies contrary to how he was mandated between 2003 and 2006. Brown said he knew his financial statements were incorrect and that this could have caused potential prejudice to the investors.
He said his conviction was not the end for him. “This case was used as an excuse to get the money. It’s with the curators. I will fight the curators.” - Daily News Correspondent