PwC compiled a 7,000-page report on the issues and fraud at Steinhoff but was prevented from making the report public.
Image: Picture: Henk Kruger Independent Newspapers
South Africans will finally see PricewaterhouseCoopers' sensitive report on Steinhoff and what led to the company’s downfall.
This was after the Ibex Group, formerly Steinhoff, said that it would not appeal the Supreme Court of Appeal's (SCA) decision to allow the report to be distributed to media outlets.
The group has been fighting for more than 6 years to stop the report from becoming public.
PwC compiled a 7,000-page report on the issues and fraud at Steinhoff but was prevented from making the report public.
Specifically, the forensic report investigated alleged accounting irregularities perpetuated by certain individuals at Steinhoff and was commissioned by the reconstituted board following the December 2017 Crisis.
Media outlets, including Arena Holdings and the amaBhungane Centre for Investigative Journalism, have been fighting to see the report, which will be given to them on Wednesday.
“The PwC Report contains the personal information of individuals and corporate entities, mainly individuals who worked for the Steinhoff Group and corporates that did business with the group,” amaBhungane said in a statement.
“The personal information disclosed includes names, contact details, correspondence, and interviews.”
Ibex said that in line with the requirements under the Protection of Personal Information Act, it has to notify these affected individuals and as such published a notice on their website.
In October, the former Chief Financial Officer (CFO) of Steinhoff, Andries Benjamin Le Grange, was found guilty of fraud and the court said he would serve five years in jail.
Le Grange pleaded guilty in the Pretoria Specialised Commercial Crimes Court to one count of fraud amounting to over R367 million fraud.
His plea was part of a Section 105A Plea and Sentence agreement.
The National Prosecuting Authority (NPA) in Gauteng said the 50-year-old was sentenced to 10 years direct imprisonment.
Half of the sentence was suspended on condition that Le Grange was not found guilty of fraud during the period of suspension.
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