JSE fines former Steinhoff CFO R2m and disbars him
The local bourse has imposed a public censure and barred Ben la Grange from the office of director for a decade over breaches to its rules
The JSE, which fined Steinhoff International R13.5m in 2020 for releasing dodgy financial information, has imposed R2m in fines against the global retailer’s former CFO, Ben la Grange, as well as disbarring him as a director for any listed company for a decade.
After an investigation into the presiding officers of Steinhoff, the JSE said it has imposed two public censures and two R1m fines, with La Grange’s immediate disqualification after a failure to fulfil his duties with the necessary care and skill. This includes signing off a fictitious transaction that falsely inflated a subsidiary’s income by R376.6m...
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