Former Steinhoff Chief Financial Officer Benjamin La Grange has been sentenced to 10-years direct imprisonment by the Pretoria Specialised Commercial Crimes Court.
Five years of the sentence has been suspended on condition that he is not found guilty of fraud and that he provides evidence for the state in any further criminal case against directors, officers and employees of the Steinhoff Group. Between November and December 2016, La Grange and the then CEO, Markus Jooste who is now deceased, defrauded Steinhoff South Africa of over R367 million.
“On the instruction of Jooste, La Grange created documentation of transactions that supported the fraudulent transactions used to inflate and falsify the annual financial statements of the Steinhoff Group for the financial year 2016. After investigations by the Johannesburg Stock Exchange , La Grange was fined R2 million for the role he played in the Steinhoff At Work transactions and barred from holding office in a public company for 10 years,” says Hawks spokesperson Katlego Mogale.
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