Former Steinhoff CFO Ben la Grange granted R150,000 bail
He faces several charges, including corruption and racketeering
26 June 2024 - 18:51
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Former Steinhoff CFO Ben la Grange. Picture: SUPPLIED
Former Steinhoff CFO Andries Benjamin la Grange has been granted R150,000 bail after his arrest on Wednesday by the Hawks serious economic offences unit.
La Grange, 49, appeared in the Pretoria specialised commercial crimes court on two counts of racketeering, five of fraud, one of corruption and three counts of contravention of the Financial Markets Act in relation to the Steinhoff investigation.
He appeared with his co-accused, former head of treasury Stephanus Johannes Grobler, who appeared again for a postponement and review of his bail conditions.
Grobler was arrested on March 22 and appeared in court on charges of racketeering, three counts of fraud worth R21bn, manipulation of financial statements and failure to report fraudulent activities.
He was granted R150,000 bail with conditions that he report to the Brooklyn police station twice a week, on Mondays and Fridays.
According to the National Prosecuting Authority (NPA), between 2014 and 2016 then CEO Markus Jooste, who is deceased, and Grobler conducted racketeering activities in the Steinhoff group as it was captured by some executive employees.
“During that period it is alleged Jooste played a major role in the management of the criminal enterprise. It is alleged Grobler created documentation of transactions that supported the fraudulent transactions used to inflate and falsify the annual financial statement of the Steinhoff group,” said NPA spokesperson Lumka Mahanjana.
Steinhoff was a multinational holding company listed in Germany and South Africa and was officially liquidated on October 13 2023. Its holdings were in the retail sector, primarily in furniture and household goods, and included a 43.8% stake in the Pepkor group.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Former Steinhoff CFO Ben la Grange granted R150,000 bail
He faces several charges, including corruption and racketeering
Former Steinhoff CFO Andries Benjamin la Grange has been granted R150,000 bail after his arrest on Wednesday by the Hawks serious economic offences unit.
La Grange, 49, appeared in the Pretoria specialised commercial crimes court on two counts of racketeering, five of fraud, one of corruption and three counts of contravention of the Financial Markets Act in relation to the Steinhoff investigation.
He appeared with his co-accused, former head of treasury Stephanus Johannes Grobler, who appeared again for a postponement and review of his bail conditions.
Grobler was arrested on March 22 and appeared in court on charges of racketeering, three counts of fraud worth R21bn, manipulation of financial statements and failure to report fraudulent activities.
He was granted R150,000 bail with conditions that he report to the Brooklyn police station twice a week, on Mondays and Fridays.
According to the National Prosecuting Authority (NPA), between 2014 and 2016 then CEO Markus Jooste, who is deceased, and Grobler conducted racketeering activities in the Steinhoff group as it was captured by some executive employees.
“During that period it is alleged Jooste played a major role in the management of the criminal enterprise. It is alleged Grobler created documentation of transactions that supported the fraudulent transactions used to inflate and falsify the annual financial statement of the Steinhoff group,” said NPA spokesperson Lumka Mahanjana.
Steinhoff was a multinational holding company listed in Germany and South Africa and was officially liquidated on October 13 2023. Its holdings were in the retail sector, primarily in furniture and household goods, and included a 43.8% stake in the Pepkor group.
The matter has been postponed to October 4.
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