PwC has identified eight individuals involved in the financial irregularities at Steinhoff, with only four of them currently facing charges. Former CEO Markus Jooste committed suicide before his scheduled court appearance, leaving the question of who else may be held accountable for the fraud.
Eight people were identified by PwC regarding the financial irregularities at Steinhoff . So far, only four of them were charged.
The FSCA did say that the findings regarding Jooste and Schreiber were made as part of an ongoing investigation and the authority is continuing with further investigations into similar allegations of contraventions of section 81 by other individuals. The FSCA declined to name these individuals. Ben le Grange was financial head from March 2013 to December 2017. He told the committees that he did not think he did anything deliberately wrong. The JSE fined him R2 million for violating listing rules and barred him from holding an office in a listed company for 10 years.
Jean-Noel Pasquier is French and according to Viceroy Research, he was the director for many of Steinhoff’s off-balance sheet entities including Campion Capital and its subsidiaries.Schreiber, Schmidt, Evans, Pasquier and Romano have not publicly commented on being named by PwC.
The PwC investigation found a pattern of communication which shows the senior management executive instructing a small number of other Steinhoff executives to execute those instructions, often with the assistance of a small number of persons not employed by the Steinhoff Group.
Steinhoff Financial Irregularities Charges Pwc Markus Jooste Stehan Grobler Court Fraud Racketeering
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