Wednesday Feb 07, 2024

The Steinhoff Scandal. A Mockery of Ethics and Justice

The Steinhoff scandal, a staggering R200 billion corporate collapse, unfolds as a tale of deceit and corporate misconduct that has left investors, pensioners, and the broader public in financial distress. Former CEO Marcus Jooste's abrupt resignation in the wake of accounting irregularities marked the beginning of a catastrophic fallout, with a 98% loss in share value and severe implications for pension funds, notably the Government Employees Pension Fund.

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