Christo Wiese, the second-largest shareholder in scandal-ridden Steinhoff, will be holding on to his shares despite describing the unfolding events at the retailer - once led by his protégé Markus Jooste - as a "traumatic experience". Wiese, who according to the latest Bloomberg data holds 20.9% of shares in the company, was the hardest hit when it came to light that Steinhoff may be at the centre of accounting fraud after the group was alleged to have doctored the books. As a result, Wiese's net worth has more than halved to $2.3-billion (about R27.5-billion). Yet Wiese remains optimistic about Steinhoff's ability to reclaim its image and inspire confidence, despite the scandal."All I can say is I have shares and I'm holding those shares. I can't give any guidance on whether Steinhoff is investable for those who are not in the same position," he said this week in an interview with Business Times. In December, Wiese and his son, Jacob Wiese, former director of Steinhoff, were remove...
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