J Arthur Brown lashes out at his accusers

2013-07-21 14:00

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J Arthur Brown, the man behind Fidentia, has once again lashed out at his accusers and threatened to implicate the curators of his former business in theft and corruption.

This follows the release this week of the most comprehensive documentation yet of the Fidentia saga.

The curators of Fidentia filed the report at the Western Cape High Court at the end of last month and it was published this week by Moneyweb.

It contains a summary of the curators’ six-year-long work and investigation prepared by one of the curators, George Papadakis.

The intention of the report seems to be to answer Brown’s repeated allegations that it was, in fact, the curators who have stolen Fidentia investors’ money.

Now Brown is offering to “be filmed live whilst undergoing a polygraph test?.?.?.?in front of the South African public”.

“Let my theories of corruption and illegality be put to a stringent test,” says Brown in a lengthy press statement released on Friday.

The Papadakis report was intended for use in Brown’s trial earlier this year, but was never taken up by the prosecutors.

Brown was controversially fined R150?000 after being convicted on two minor charges among the several serious ones he faced in relation to the theft of R1.4?billion, mostly from the widows and orphans of mine workers.

According to the Papadakis report, Fidentia invested a third of the R1.8?billion that the company had received from investors in companies and property.

These companies, however, did not deliver cash flows, but instead used the money from Fidentia to fund running costs.

Assets that were acquired were also not registered in the name of the investors, as is required by the law, says the report.

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