Steinhoff chair Heather Sonn was ‘not aware of need to disclose transaction’
Steinhoff’s vice-chair says Sonn had not participated in any accounting irregularities
18 May 2020 - 09:13
Heather Sonn became the second chair of Steinhoff, which is in the throes of a R100bn-plus accounting fraud saga, to resign after a firm she partly owns got entangled in the web of questionable bookkeeping practices.
Sonn’s departure follows that of Christo Wiese, who was also the top shareholder, following the disclosure of a complex scheme where inter-company transactions worth €6.5bn (about R130bn) were fraudulently recorded as external income to overstate Steinhoff’s profits and hide its losses...
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