ROB ROSE: Dirt on the white collar
Why do rich business executives, such as Markus Jooste of Steinhoff, cut corners and cost societies billions in criminal acts of greed?
Speaking at the Gordon Institute of Business Science (Gibs) this month, Harvard Business School professor Eugene Soltes had some intriguing insights into a question no-one has been able to satisfactorily answer: why do the uber-rich take criminal shortcuts? Soltes was the headline speaker on a panel discussing white-collar crime, including Imperial CEO Mark Lamberti, Business Leadership SA head Bonang Mohale and advocate Kgomotso Moroka, assembled by ENSafrica chairman Michael Katz. But if Soltes, author of Why They Do It: Inside the Mind of the White-Collar Criminal, thought it was going to be a run-of-the-mill academic gabfest, he’d underestimated the white-hot fury about Steinhoff, Trillian, McKinsey, KPMG, and state capture in SA. A decade ago, while finishing his MBA, Soltes began writing to incarcerated executives, like Bernie Madoff and Jeff Skilling, to find out what made them tick. The letters he got back were compelling, providing the sort of insights that will be invaluab...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.