Bidders spent a cumulative R39m on a run-down hotel and spa in the Cape Winelands on Thursday. This was no ordinary auction‚ it was the final chapter of the Fidentia fraud case which rocked the country almost a decade ago. The property was owned by the now defunct company. Thousands of widows and orphans lost more than R1bn in the financial scandal. It was masterminded by Fidentia boss J Arthur Brown who is now serving a 15-year prison sentence for fraud. Several would-be buyers turned out to bid for the hotel‚ spa‚ conference centre and three villas which were to be sold as various lots at the luxury One & Only Hotel in Cape Town. The property was touted as having "sweeping views of the Simonsberg mountains". Brown claimed in 2008 that the resort was worth R350m. But one of the widows‚ Joyce Dayimani‚ told Business Day that she doubted if she would ever see a penny of her late husband’s pension. Auctioneers ClareMart described the auction as a success. CEO Jonathan Smiedt said abou...
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