Convicted fraudster and PE businessman Stuart Mcleod has been sentenced to an effective 8 years in prison in the Port Elizabeth Commercial Crimes Court.
The 59-year-old Mcleod torched his business premises in Newton Park in 2015 so that he could institute an insurance claim of over six million rand.
He was subsequently found guilty of fraud, arson and defeating the ends of Justice.
Magistrate Lionel Lindoor said during sentencing on Thursday morning that Mcleod showed no remorse for the crime and maintained his innocence throughout the trial.
He said his actions were deliberate and took time to plan.
Lindoor said the prescribed minimum sentence for fraud amounting to more than R500 000 was 15 years.
He did, however, take Mcleod's age into account and sentenced him to 8 years imprisonment.
His defence attorney Hannelie Bakker applied for leave to appeal but it was dismissed.
