Steven Goodwin, the key dealmaker behind South Africa's disgraced Fidentia was picked up in Los Angeles this week by U.S. customs authorities and the FBI at the request of the South African government - their Directorate of Special Operations, the Scorpions to be precise.

Goodwin was one of a group of Fidentia officers that went an acquisition spree and in the process literally went about robbing the widows and orphans fund of South African mineworkers, among many others. Around a billion in investor funds is still unaccounted for.

Goodwin had been in the wind since February of last year, when he wisely departed south Africa just as Fidentia was placed under government control and only weeks before his Fidentia fellows, chairman J. Arthur Brown and auditor Graham Maddock were placed under arrest.

Ahead for Goodwin is extradition back to South Africa where he'll no doubt stand trial on charges of theft, fraud and corruption alongside many of his former coworkers, who are facing their own fall-out from the Fidentia fraud. J. Arthur Brown's trial is scheduled to start May 2.

Just in time, it seems.

-- MDT

Labels: Fidentia, Graham Maddock, J Arthur Brown, South Africa, Steven Goodwin