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For every captain of industry prepared to break the rules and cook the books in order to feather their own nest, there is a slew of others who apparently didn’t see the icebergs dead ahead, says Mark Graham.
The former CEO of the scandal-plagued global retailer is being sued for allegedly enticing a trust to swap its shares in the PSG Group for Steinhoff shares in June 2015.
Bernard Mostert, one of the former owners of Tekkie Town, told Fin24 that "when we are successful against Steinhoff, Steinhoff will rely on this motion to claim damages from Jooste".
Professional investors are drawing comparisons to Steinhoff.
Unethical behaviour has a major impact, not only on the business involved, but also on the image of the private sector, says Mlondi Mdluli.
South Africa’s financial regulator is investigating seven trading accounts that sold Steinhoff International Holdings NV shares in the weeks leading up to the global retailer’s disclosure of accounting irregularities and subsequent share-price collapse a year ago.
A shareholder group got a green light to sue Steinhoff International in the Netherlands, kicking off a legal fight to recover some of the billions of dollars investors lost.
Markus Jooste, the former head of the embattled retailer Steinhoff, fielded questions from MPs in Parliament on the conglomerate's governance and share price collapse. These are News24's top picks. Watch.
Steinhoff share price rose from R2.22 to R3.00 during the course of a hearing on Wednesday, before closing at R2.75, as investors liked what they heard.
The South African Institute of Chartered Accountants (Saica) inquiry into chartered accountant, commentator and former Wits lecturer Khaya Sithole is set to resume on Wednesday.
Given Steinhoff’s current financial position, it will waive the bulk of the fine to only levy a penalty of R53m.
Markus Jooste's legal team indicated on Wednesday that he would be opposing Steinhoff's civil claim of around R858m.
Deloitte has been Tongaat’s auditors for more than 15 years.
The multinational retailer has announced it will delay the publication of it audited financial statements due to the complexity of the accounting and audit work required.
South Africa is investigating a R9bn loan made by the PIC to a BEE partner of Steinhoff International, according to people familiar with the matter.
Tesco Chief Executive Officer Dave Lewis got 1 300 emails from staff calling for change in his first days in the role. The troubled supermarket’s situation was about to get much worse.
Banks granted Steinhoff's former CEO, Markus Jooste, another extension to pay back his debt, as the global retailer that he headed struggles to survive an major accounting scandal.
Members of Parliament have found the evidence presented by former Steinhoff CFO Ben la Grange to be "insightful", providing more clarity on what went wrong at the retailer.
Steinhoff's Ben La Grange has blamed departed leader Markus Jooste and auditors for the retailer’s accounting scandal, saying he became aware of any wrongdoing only days before the crisis erupted.
Saica says it is determined to restore faith in the accounting profession - and the investigation into VBS CEO Andile Ramavhunga is one of 265 underway.
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