Cape Town - Former Fidentia boss J Arthur Brown was prepared to pay a R30 million fine to buy his freedom, the Cape Argus reported on Thursday.
This was revealed in papers filed by the State at the Cape High Court in response to Brown's application to halt the prosecution against him.
According to the papers Brown had in late 2007 opened plea negotiations with the Scorpions.
He was prepared to plead guilty to a charge of being an accessory to fraud and pay a R30 million fine.
At the time of the plea negotiations, Fidentia curators were seeking R1.6 billion in Fidentia money.
Brown also proposed a 10-year suspended sentence which included three years of correctional supervision.
He is currently facing multiple fraud charges, but has not been brought to trial on any of them.