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Fidentia fraud case continues

March 6 2013 at 03:16am

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IOL pic mar6 fidentia joseph arthur brown

Independent Newspapers

The trial of former Fidentia chief executive Joseph Arthur Brown (foreground) is being heard in the Western Cape High Court. File photo: Brenton Geach

Johannesburg - The fraud, corruption, money-laundering and theft trial against former Fidentia boss Joseph Arthur Brown was scheduled to continue in the Western Cape High Court on Wednesday.

Brown's lawyer told the court on Tuesday that his client was prepared to admit that money flowed from his broker's bank account to certain beneficiaries and vice versa.

“My client is prepared to admit that as long as it's on the record that he had no knowledge of all the payments (that were made),” his lawyer Braganza Pretorius said.

A formal admission document was likely to be drawn up.

Ex-broker Steven Goodwin had been on the stand testifying against Brown, regarding events surrounding the Transport, Education, and Training Authority (Teta), and Mantadia Asset Trust Company.

Goodwin was previously found guilty of bribing former Teta CEO Piet Bothma to facilitate the transfer of investments. He also admitted to money-laundering, involving around R93-million, through two of his entities. He entered into a plea agreement in 2009 and was sentenced to in effect 10 years in jail. - Sapa

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