Fidentia’s last asset auctioned for almost R40m
A decade ago the lives of widows and orphans were plunged into chaos after J Arthur Brown embezzled millions from them.
CAPE TOWN - Convicted fraudster J Arthur Brown’s last asset, the Sante Hotel and Spa has been auctioned for R25.1 million.
A decade ago the lives of widows and orphans were plunged into chaos after Brown embezzled millions from them.
He is currently serving a 15-year prison sentence.
The ClareMart Auction Group has auctioned off the Sante Hotel, Conference Centre and Spa.
Four villas were also sold to various bidders attending the auction at a Waterfront Hotel on Thursday.
Together, the five buildings fetched a total of almost R40 million.
The hotel, conference centre and spa went for R25.1 million.
The winning bidder clearly had his heart set on the property as he was first to arrive and get a bidder’s card.
(Edited by Zamangwane Shange)