Two more people arrested over Steinhoff fraud
The pair were arrested on Thursday on a range of charges including the contravention of the Prevention of Organised Crime Act and the contravention of the Financial Markets Act.
A 35-year-old man was apprehended for the suspected possession of drugs and the downloading and distribution of child pornography on Friday, 18 January. Picture: Pexels
JOHANNESBURG - Two more people are expected to face the music for their alleged part in the country’s biggest corporate fraud at Steinhoff.
The pair were arrested on Thursday on a range of charges, including the contravention of the Prevention of Organised Crime Act and the contravention of the Financial Markets Act.
Hein Odendal and Iwan Schelbert joined former Steinhoff executive Stephanus Grobler at the Pretoria Specialised Commercialised Crimes Court on Friday.
A chartered accountant by profession - 67-year-old Hein Odendaal was previously listed as the managing director at Steinhoff’s affiliates.
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63-year-old Iwan Schelbert was also a longstanding director at the multinational.
It’s alleged that both former directors had a hand in creating fictitious transactions to the value of R197 billion in what would become the company’s undoing.
They are now among four executives who face charges in the ongoing investigation into allegations of fraud between 2014 and 2016 where Steinhoff executives allegedly falsified financial statements.
Odendaal and schelbert are out on R150k bail each.
The matter is expected back in court in May where former exec Stephanie Grobler will be in the dock also on fraud and racketeering charges.