Cape Town - The curators of Fidentia have said it is "utter rubbish" that they have not paid out money to trust fund beneficiaries since they took over the business, the Cape Argus reported on Monday.
Curator Dines Gihwala reportedly said that more than R17m had been paid out to beneficiaries of the Living Hands Umbrella Trust, which invested with asset management company Fidentia.
Living Hands confirmed to the newspaper that around R17.67m had been paid out to 15 200 beneficiaries since January.
Former Fidentia boss J Arthur Brown was recently fined R150 000 for two convictions of fraud for misrepresentations he made in handling investments for two different companies.
Many trust beneficiaries believed Brown did not steal or misappropriate their money and blamed the curators, claiming they had not been paid out since Fidentia was placed under curatorship in 2007.
The NPA has applied for leave to appeal Brown's sentence.
Brown told the newspaper he would take the curators to court after the case was finalised.