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Former Fidentia boss, J Arthur Brown was found guilty by the Western Cape High Court on two counts of fraud on Thursday.
Judge Anton Veldhuizen says they are satisfied that the admissions made by Brown are sufficient for conviction.
The charges relate to dealings with the Transport Education and Training Authority and the Mantadia Asset Trust Company.
Brown was acquitted on seven other charges.
Veldhuizen said arguments in aggravation and mitigation of sentence would be heard on April 29.
