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Embattled Steinhoff closes in on ‘rogue’ executives | IOL Business Report

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Steinhoff International told legislators in Parliament that it was in the process of implementing claims against executives and directors implicated in the financial irregularities that nearly brought the company to its knees in 2017. busrep

JOHANNESBURG – Embattled retailer Steinhoff International on Wednesday told legislators in Parliament that it was in the process of implementing claims against executives and directors implicated in the financial irregularities that nearly brought the company to its knees in 2017. Chief executive Louis Du Preez said the group had granted the Hawks and National Prosecuting Authority access to the PricewaterhouseCoopers report for potential criminal charges against those implicated.

The group said that it had initiated further forensic investigations, including possible claims against third parties and entities involved. Lawmakers, however, accused the group and law enforcement agencies of dragging their feet on those responsible for the irregularities. Joe Maswanganyi, parliament's finance committee chairperson, blamed Steinhoff for reneging on its commitment to co-operate with law enforcement.“It means we have a law for the poor and a law for the rich. If this does not happen by the National Prosecuting Authority and the Hawks, it will undermine your credibility forever. You will not have done what you were meant to do.

 

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