ARTICLES RELATING TO ACCOUNTING FRAUD

Steinhoff's Christo Wiese defends company payments as legitimate

2018-04-11 06:50

Steinhoff earlier said two deals with entities related to its former chair and biggest shareholder didn’t follow proper disclosure processes.

Steinhoff submitted 'malicious' report to Hawks

2018-03-13 15:17

The report Steinhoff provided to the Hawks was "malicious" as it contained no information, the head of the Hawks' commercial crime unit has told Parliament.

Steinhoff accounting scandal may date back to at least 2014 - reports

2018-03-01 15:59

Leaked emails appear to show evidence that former Steinhoff CEO Markus Jooste was in contact with German Steinhoff managers in 2014 about allegedly manipulating data.

Investec's Bernard Kantor caught in Steinhoff headlights

2018-02-09 16:58

Disgraced former Steinhoff boss Markus Jooste’s horse racing company, Mayfair Speculators, has refused to repay a R250m credit facility extended to the company by Investec.

Nomura joins list of banks burnt by Steinhoff meltdown

2018-02-02 07:50

In its third-quarter earnings report, Japan’s biggest brokerage said it booked an unrealised loss of about ¥14bn. The loss was tied to Steinhoff, say people with knowledge of the matter.

Steinhoff sells private jet to US broker as cash runs low

2018-01-20 07:00

Steinhoff International has sold its luxury Gulfstream 550 private jet to US aircraft broker Avpro as it seeks to boost liquidity.

Steinhoff hands over 15 years of financial records to unions

2018-01-19 12:49

Steinhoff has agreed to allow the Federation of Unions of South Africa and the Public Servants Association access to financials as far back as 2002.

SA investors want to join Dutch class action against Steinhoff - report

2018-01-12 11:57

The investor lawsuit is one of a number in the works by European law firms, after Steinhoff investors lost billions of euros as its share price plummeted.

Steinhoff units seek 'significant' funding as CFO steps down

2018-01-05 10:55

Steinhoff, the global retail giant consumed by an accounting scandal, says some of its business units need “significant near-term liquidity” as its chief financial officer stepped down to focus on rescue efforts.

Steinhoff's Mattress Firm secures $75m credit facility

2017-12-29 12:21

Steinhoff's US subsidiary Mattress Firm has secured a new $75m credit line from Barclays Bank, which it says provides it with "independent liquidity".

 

Steinhoff says payments to ex-chair Christo Wiese broke company rules

2018-04-10 14:01

Steinhoff says two deals with entities related to its former chair and biggest shareholder Christo Wiese didn’t follow proper disclosure processes, dragging the billionaire deeper into an accounting crisis.

Markus Jooste conspired with other Steinhoff execs - report

2018-03-02 06:35

Steinhoff International's former CEO Markus Jooste conspired with fellow executives to move revenue figures around subsidiaries to boost their balance sheets, according to a German newspaper.

HSBC loan loss rise said to be tied to Steinhoff, Carillion

2018-02-20 22:00

HSBC is the latest global bank to take hits from the fallout of Steinhoff International and Carillion, says a source.

Bank of America said to bring in law firm to examine Steinhoff charge

2018-02-08 09:39

Bank of America has hired Davis Polk & Wardwell to conduct an internal review of a R3.5bn charge-off tied to the SA retailer.

Steinhoff files show Jooste 'repeatedly lied' to investors and regulators - PSA

2018-01-26 12:53

The Public Servants Association says a preliminary review of documents shows Steinhoff ex-CEO Markus Jooste repeatedly provided assurances in reports that the group's financial health was sound.

Hero to short sellers rose from social work to Steinhoff win

2018-01-19 18:19

A year before unleashing a damning report that has detailed accounting irregularities at Steinhoff International Holdings, one of its authors faced a reckoning of his own.

Bank of America's $292m charge tied to Steinhoff turmoil

2018-01-17 16:46

Bank of America has just joined a roster of big US lenders suffering multimillion-dollar burns on their dealings linked to Steinhoff International.

SA Steinhoff unit mulls early redemption of bonds

2018-01-12 09:19

Steinhoff International Holdings has said its local units is considering an early redemption of all notes in issue as it struggles to stay afloat amid an accounting scandal.

Steinhoff accounting scandal dates further back

2018-01-02 11:26

The accounting scandal rocking embattled Stellenbosch-based furniture and household goods retailer Steinhoff is still growing.

Another blow for Steinhoff as Moody's again wields downgrade axe

2017-12-28 12:29

Ratings agency Moody's has downgraded Steinhoff to Caa1, the seventh rung of non-investment grade, which indicates high credit risk.

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