Former Steinhoff chief financial officer (CFO) Andries "Ben" la Grange was yesterday sentenced to five years in prison.
La Grange appeared in the Specialised Commercial Crimes Court in Pretoria, where the ruling was delivered.
He initially faced charges of racketeering, fraud and failure to report fraudulent activities.
In June, he was granted bail of R150 000 under strict conditions.
After previously signalling his intention to plead not guilty, La Grange entered into a plea and sentence agreement with the state in terms of section 105A of the Criminal Procedure Act.
The former Steinhoff executive was sentenced to 10 years in prison, with five years suspended, after pleading guilty to one count of fraud involving over R367 million.
The suspension was on condition that he be not convicted of fraud during the period.
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