LA GRANGE: 5 YEARS JAIL FOR R10OBN FRAUD
The sentencing last week of Ben la Grange, the former chief financial officer (CFO) of Steinhoff, stands as a stark reflection of the troubling dynamics at play in the prosecution of white-collar crime in South Africa.
Following Markus Jooste's suicide, La Grange is the most senior executive who was involved in the fraud.
Steinhoff's kingpin number two's plea deal leaves much to be desired in terms of justice.
His effective sentence of five years in prison for his involvement in the €6.5 billion (about R100 billion in 2017) fraud raises profound concerns about the seriousness with which such crimes are addressed, given the catastrophic consequences for shareholders, pensioners and SA's reputation.
The 2017 collapse of Steinhoff's share price wiped out a staggering R230 billion in market value. It was a monumental blow to investors, with many suffering irreversible financial losses.
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Denne historien er fra October 08, 2024-utgaven av The Citizen.
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Bad memories help inspire Williams
With the Fifa international break back in full swing, Bafana Bafana captain Ronwen Williams has explained why heavy defeats to Brazil and France are always at the back of his mind.
HUGO GETS TOUGH
»» Itis understood the behaviour of the player forced Broos to put him out of the team’,
Proteas undone in dead rubber
BELOW PAR: SA OUTPLAYED BY IRELAND IN EVERY FACET
Lions sweating over Wolhuter
URC TOUR: HOLDING THUMBS BUDDING FLYHALEF IS FIT
Mofokeng is a Riveiro fan
CONTRACT: PIRATES STARLET WOULD LOVE THE COACH TO EXTEND HIS STAY
Missed chance for justice
»» Jooste’s death left him as most senior executive involved in the catastrophe.
Sarb's asset hit list
»» Precedent set when the Reserve Bank went after the assets of Jooste’s ex-lover.
Land grab case heads for UN
»» World leaders to hear of exploitation of the Cofan Avie group.
SA-Nigeria rivalry still ugly
Friction at many levels as pageants, sport used as weapons.
October 7 horror is relived
»» Square opened in Houghton to mark terror attack.
