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Former Fidentia boss J Arthur Brown has been fined R150 000 and given a suspended prison sentence for two fraud convictions.
Handing down sentence on Wednesday, Western Cape High Court Judge Anton Veldhuizen said a R75,000 fine applied for each fraud count.
Brown was also given 18 months in jail for each count, suspended for four years on condition he not be convicted of fraud again.
Pensioners, business people and other members of the public in the packed courtroom had mixed expressions of disbelief and relief when the sentence was handed down.
Brown was recently convicted after he admitted to misrepresentations he made regarding investments entrusted to him.
The State originally laid 192 charges against him.
