
Former Steinhoff director jailed for 5 years in R376m fraud case
Iwan Schelbert admitted to his role in generating a fraudulent invoice that helped to inflate Steinhoff at Work’s accounts.

Iwan Schelbert admitted to his role in generating a fraudulent invoice that helped to inflate Steinhoff at Work’s accounts.

With a finalised charge sheet due within the next two weeks, three ex-Steinhoff managers accused of serious financial crimes inch closer to trial in one of South Africa’s biggest corporate fraud cases.

Authorities have convicted six individuals in the VBS Mutual Bank fraud case, including former executives and municipal officials. However, with 29 accused still on trial and 43 more suspects under investigation, the case is far from over.

La Grange was sentenced to 10 years in prison, with five years suspended contingent on his co-operation with the State in future cases involving Steinhoff’s executives.

Dr Gerhard Burger, who travelled with Steinhoff directors to oversee their health, pleaded guilty to three counts of insider trading.