Former Fidentia boss Brown, who was serving a 15-year jail term at the Voorberg Prison in Porterville, was released on parole under a cloak of secrecy at about 8am today.
Cape Town – Pension fund fraudster J Arthur Brown was reportedly one of around 19 000 low-risk prison inmates set to be released as part of President Cyril Ramaphosa’s Special Covid-19 parole dispensation in May last year.
The 51-year-old Brown, who was reportedly a model prisoner and served as chairperson of the rugby club, is expected to live with his second wife, Annelize, in Bloubergstrand. His first wife, Susan, flew to Australia on April 25, 2008 with their two sons after a warrant for her arrest was also issued on April 3.
His firm had presided over more than R1 billion that allegedly went missing from a trust – there were 54 000 trusts involved altogether in the Fidentia scandal – which paid money, among others, to the widows and orphans of mineworkers. Fidentia’s financial director and broker were sentenced to seven-year jail terms after striking a plea bargain. They were released after less than three years.
Brown admitted that these amounts were invested from time to time in asset classes different to those specified in the investment mandate.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Americans want Black Axe scammers arrested in Cape Town to stand trial in USExtradition and the possibility of 42 years in a US federal prison loom for alleged Nigerian mafia members arrested in Cape Town on Tuesday morning.
Read more »
Americans want Black Axe scammers arrested in Cape Town to stand trial in USExtradition and the possibility of 42 years in a US federal prison loom for alleged Nigerian mafia members arrested in Cape Town on Tuesday morning.
Read more »
Hunt for four Limpopo brothers kidnapped by seven uniformed menTeams of police are on the hunt for a gang of heavily armed men who kidnapped four young Limpopo brothers at gunpoint as they were being driven to school on Wednesday.
Read more »
Hunt for four Limpopo brothers kidnapped by seven uniformed menGunmen with assault rifles snatched four children from their driver's vehicle as they drove in morning traffic to school.
Read more »
New York city hall to remove Jefferson statue over slave-ownershipLatino and Black council members in New York have for years demanded the removal of the seven-foot Jefferson statue, which was commissioned in 1833.
Read more »
De Beers’ rough diamond sales dip in eighth cycleSales in the eighth cycle fell 6.1% from the seventh, but this has put year-to-date sales in line with 2019’s total
Read more »