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.
Should have served the entire 15yrs. No better than the EFF VBS looters.
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