editor’s note by rob rose
ROB ROSE: Steinhoff’s CFO, a handwritten invoice and a R376m con
The fine against Ben la Grange shines the spotlight on Steinhoff’s culture — and pins wrongdoing directly on Markus Jooste
01 September 2022 - 05:00
Every financial director who read the JSE’s censure of Steinhoff’s former finance boss Ben la Grange last week would have had shivers running down their spine. But for their good fortune in avoiding a lying, narcissistic boss, it could have been their name in the headlines.
The JSE ruling laid bare how La Grange had been duped by Steinhoff’s former CEO Markus Jooste into approving a mammoth invoice, artificially juicing the retailer’s profit. It’s a critical development since it’s the first time the JSE has overtly pinned anything on Jooste — and, at R376m, it’s a whopper...
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