Auction closes Fidentia's final chapter

Bidders yesterday spent R39-million on a rundown hotel and spa in the Cape Winelands in the final chapter of the Fidentia fraud case that rocked the country.

The property was owned by the defunct company.

Thousands of widows and orphans lost more than R1-billion in the financial scandal that unravelled almost a decade ago.

The fraud was masterminded by Fidentia boss J Arthur Brown, who is now serving a 15-year prison sentence.

ClareMart Auctioneers CEO Jonathan Smiedt said yesterday that about 100 investors had shown interest in the hotel, the spa and the conference centre, and the three villas on the property.