
Steinhoff fraud cases: fourth conviction secured in South Africa
Former audit executive Hein Odendaal must pay a R2m fine or spend four years in prison following a plea agreement with prosecutors.

Former audit executive Hein Odendaal must pay a R2m fine or spend four years in prison following a plea agreement with prosecutors.

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

The National Prosecuting Authority’s indictment against former Steinhoff executives lays bare a ‘sophisticated washing machine’ that generated ‘entirely illusory profits’.