News Formal

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

  • 📰 IOL
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 51%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 46. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

NPA and Hawks contradict each other over Steinhoff report - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The National Prosecuting Authority (NPA) and the Hawks have contradicted one another in parliament regarding access to a Steinhoff audit report on accounting irregularities at the company.
Source: SABC News Online - 🏆 32. / 51 Read more »

Botswana issues travel advisory, warns citizens travelling to South Africa | IOL Business ReportWidespread xenophobic violence and looting of shops have gripped Gauteng province in recent days, with at least five people killed during the mayhem.
Source: IOL - 🏆 46. / 51 Read more »

Banking Association South Africa members resign from the Credit Ombud Association | IOL Business ReportThe association said, however, all existing disputes before the Credit Ombud Association would remain with this Ombudsman until they were finalised.
Source: IOL - 🏆 46. / 51 Read more »

LISTEN: SA GDP expands 3.1% in second quarter | IOL Business ReportSouth Africa's economy grew by 3.1 percent in the second quarter of 2019.
Source: IOL - 🏆 46. / 51 Read more »

Nigeria-listed MTN beefs up security after xenophobic violence | IOL Business ReportSecond-largest investor on the NSE says it has taken the necessary measures to safeguard the safety and security of its customers and staff.
Source: IOL - 🏆 46. / 51 Read more »