The Oldenburg prosecutor's office said on Thursday it had filed charges against the trio for allegedly manipulating the balance sheet by including fictitious transactions worth more than 1.5 billion euros .
The managers, who were not named, are also accused of over-valuing real estate by 820 million euros , investigators said. The German regional court must now decide whether to open proceedings against the managers. Balance sheet manipulation is punishable by up to three years in prison. Steinhoff, which has its operational headquarters in Stellenbosch near Cape Town and traces its roots to Westerstede near Bremen in Germany, declined to comment.
Black monopoly capital can't prosecute white monopoly capital
Fraud is the precise term. We are tired accounting irregularities.
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