Tuesday, March 26, 2024
Former Steinhoff director Stephanus Grobler has appeared in court on charges of racketeering, three counts of fraud worth R21 billion, manipulation of financial statements and failure to report fraudulent activities.
Grobler appeared in the Pretoria Specialised Commercial Crimes Court on Monday where he was granted bail of R150 000.
National Prosecuting Authority (NPA) spokesperson Lumka Mahanjana explained that Grobler and then Steinhoff Chief Executive Officer, Markus Jooste – who has since been reported dead – allegedly committed acts of racketeering between 2014 and 2016 within the company.
“During that period, it is alleged that Jooste played a major role in the management of the criminal enterprise. Furthermore, it is alleged that Grobler created documentation of transactions that supported the fraudulent transactions used to inflate and falsify the annual financial statement of the Steinhoff Group.
“In court, using an affidavit, Grobler told the court that he intended to plead not guilty to the charges, and would prove his innocence. He further asked the court to release him on bail,” Mahanjana said.
According to the spokesperson, the prosecution opposed the bail application on account of the seriousness of the crime and indicated that Grobler is a flight risk.
“In delivering the judgement, Magistrate Nicca Setshogoe granted him bail with conditions that he should report to Brooklyn police station twice a week, Monday and Friday. He should hand over his two passports to the investigating officer and is not allowed to apply for a new one.
“He should hand over his two firearms to the police. He is not allowed to leave Gauteng province without informing the investigation officer. [He] must not interfere with state witnesses,” Mahanjana said.
The matter is expected back in the court on 26 June 2024. – SAnews.gov.za
Share this post:
CirrusFlash
Fun South African Fact: Vilakazi Street in Soweto has been home to two Nobel Peace Prize winners. A tour through Soweto will always stop at Vilakazi Street to reveal a number of heritage sites of great importance to democratic South Africa. Both Nelson Mandela and Archbishop Desmond Tutu lived here at some point in their lives. In 1984, Archbishop Desmond Tutu received the Nobel Peace Prize in recognition for his non-violent fight against the apartheid regime. Nine years later in 1993, Nelson Mandela shared the Nobel Peace Prize with then-president F.W. de Klerk as an award for their role in bringing about the peaceful end of apartheid. Nelson Mandela then went on to become South Africa’s first democratically elected president in 1994.
Rocky Highway
With enough thrust, pigs, can in fact fly