Steinhoff ex-chair Christo Wiese open to talks over $4bn claim
‘I would expect Steinhoff to give me back my money, and I will give them back their worthless shares,’ Wiese said after Friday’s report
Former Steinhoff chair and top shareholder Christo Wiese is open to negotiations over his $4bn claim against the company, he said on Monday, days after Steinhoff released a report that showed the scale of a devastating accounting fraud. The SA retailer said on Friday that an independent report had found it had overstated profits over several years in a $7.4bn accounting fraud involving a small group of top executives and outsiders. Steinhoff did not name the individuals but said those implicated were no longer employed by the company. Steinhoff first disclosed the hole in its accounts in December 2017, hammering its shares and triggering lawsuits from shareholders including Wiese.
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