The German case shines a spotlight on SA’s failure to bring any Steinhoff managers to book. Picture: BLOOMBERG/DWAYNE SENIOR
The charge sheet more or less confirms the modus operandi behind the biggest accounting fraud in the history of SA as outlined in 2019 in the heavily truncated investigation report by PwC, which was hired by the company to get to the bottom of what was then called accounting irregularities after long-standing auditor Deloitte refused to sign off on the 2017 results.
But it is a big step towards reassuring the broader public, which has legitimate reason to complain that the rich and powerful too often escape justice for their misdeeds. But it is hard to accept that the Hawks, which bring cases to the NPA for prosecutions, has no money to investigate anyone implicated in bringing this once high-flying retailer down, as reported last week by our sister weekly publication, the Financial Mail.
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