Judgment expected in Fidentia trial

Judgment in the embezzlement trial of former Fidentia boss J Arthur Brown is expected to be handed down in the Western Cape High Court on Thursday.

On Wednesday Judge Anton Veldhuizen accepted an altered admissions document Brown made in relation to two fraud counts, and said he would pass judgment on Thursday morning.

The court initially expressed concern that the admissions on count six, which related to the Mantadia Asset Trust Company (Matco), were not strong enough for conviction.

Brown said he had made the admissions to "bring an end to the trial".

The admission statement handed up on Wednesday included the terms of the purchase agreement and made it clear that the purchaser had to have "immediately available funds".

"Fidentia and I misrepresented that Fidentia was able to do so and thereby induced the shareholders of Matco to enter into the agreement and sell their shares to Fidentia," Brown said in the altered document.

He admitted that Fidentia took control of Matco in October 2004, before full payment was made to all shareholders, contradictory to the terms of the agreement.

The State confirmed there would be acquittal on counts three, four, five, seven, eight, and nine, which relate to the Transport Education and Training Authority, Thaba Manzi, Infinity, and Antheru.

The charges were corruption, money-laundering, theft, and fraud.

Veldhuizen said arguments in aggravation and mitigation of sentence would be heard on April 29.