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Pay back the money: Markus Jooste, Steinhoff edition | Business | M&G

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In its report released in March, PwC revealed that a range of “fictitious and/or irregular” transactions inflated the profits and assets of the group by over €6.5-billion between 2009 and 2017.

In an unprecedented move, Steinhoff’s former chief executive Markus Jooste and chief financial officer Ben la Grange could be ordered to pay back hundreds of millions to the company.reported on Tuesday that Steinhoff had filed papers in the Western Cape high court in an attempt to recoup R870-million from Jooste and R272-million from La Grange. These amounts include salaries and bonuses awarded to the pair.

His resignation was followed by Steinhoff commissioning auditing firm PricewaterhouseCoopers to investigate the accounting scandal. A few executives, including Jooste and La Grange, were implicated.

 

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