Steinhoff Funds NPA to Investigate Steinhoff

Written by on 5 March, 2021

The National Prosecuting Authority has confirmed that it has received 30-million rand from Steinhoff to assist with a forensic probe into the company’s auditing scandal.

The NPA and the Hawks are jointly conducting a separate probe to get to the bottom of an audit investigation that found that ahead of CEO Markus Jooste’s abrupt resignation in 2017, Steinhoff had been allegedly inflating its profits between 2009 and 2017.

The NPA’s Spokesperson, Sipho Ngwema, says they have put mechanisms in place to ensure that Steinhoff does not interfere in the investigation.

Ngwema says investigations into the fraud scandal are ongoing and there was no conflict of interest.

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