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Johannesburg - The sentencing of former Fidentia boss J Arthur Brown is due to be handed down by the Western Cape High Court on Wednesday.
On Monday, the court heard that Brown should be given a minimum sentence of 15 years' imprisonment for fraud.
Jannie van Vuuren, for the State, said Brown had a serious and clear fiduciary duty to act in the best interests of his clients, which he did not do.
In closing arguments, he said Brown had not shown remorse for his actions.
Brown, 43, was recently convicted on two counts of fraud relating to his admissions about misrepresentations he made regarding investments entrusted to him.
His lawyer Braganza Pretorius said a stiff fine, rather than a term of imprisonment, should apply.
He argued that a section of the law stipulating a minimum sentence of 15 years' imprisonment for fraud was not applicable, since it applied to fraud offences involving amounts of more than R500 000, and the State had not proved actual monetary loss.
Van Vuuren argued that the minimum sentence was applicable.
He said the reason Brown had given evidence during sentencing was to mitigate the seriousness of the fraud charges against him and to provide circumstances for deviation from the minimum sentence.
Brown is out on bail of R1m.
