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Trial of Fidentia ex-boss commences

Nov 06 2012 09:15 Sapa

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Johannesburg -The trial of former Fidentia boss J Arthur Brown is expected to begin in the Western Cape High Court on Tuesday.

The trial was supposed to have started last month but it was postponed to allow a more senior judge to be appointed.

Brown faces nine charges of fraud, theft, corruption and money laundering related to Fidentia and six affected companies.

In the summary-of-facts document, Brown was accused of orchestrating a "huge" exercise of inflated assets valuations and backdating of documents.

He was also implicated in so-called asset swap agreements on the strength of "false" promissory notes in an effort to defeat the attempts of the Financial Services Board inspectorate to investigate and uncover the "true picture".
 
fidentia  |  j arthur brown
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