Former Fidentia boss J Arthur Brown was sentenced on Monday to in effect 15 years in jail after the Supreme Court of Appeal set aside his previous sentence for fraud.
Brown received 15 years’ imprisonment on each of two fraud charges. The sentences would run concurrently.
The National Prosecuting Authority (NPA) had appealed the R150,000 fine and suspended jail term handed down by the Western Cape High Court last May.
Brown was convicted of two fraud charges relating to his handling of investments for the Transport Education and Training Authority and the Mantadia Asset Trust Company between 2002 and 2006.
He paid a R75,000 fine for each of the two fraud charges. He had originally faced 192 charges. The appeal was heard last month.
“It wasn’t just about the amount involved. It was about the impact that the commission of the crime had,” NPA spokesman Nathi Mncube said.
He said Brown would have to report to the nearest prison as soon as possible to begin his sentence.
His legal team had not yet made contact with the NPA.
Cosatu welcomes sentencing
Cosatu in the Western Cape has welcomed the 15-year jail sentence imposed on former Fidentia boss J Arthur Brown by the Supreme Court of Appeal on Monday.
“This must serve as a clear indication to fund managers that they are going to be put in jail for corruption and for stealing from the poor,” Congress of SA Trade Unions (Cosatu) provincial secretary Tony Ehrenreich said in a statement.
“This sentence must hopefully also serve as a deterrent to the growing levels of white collar crime.”
Ehrenreich commended the government for appealing the case.
“This 15-year jail sentence is still too low for the hardships that he caused and we must investigate who else was involved in the criminal acts, so that they can also be brought to book,” he said. SAPA