The Sunday Independent reports that, An investigation carried out by PwC found that Steinhoff recorded fictitious or irregular transactions totaling 6.5 billion euros ($7.4 billion) over a period from 2009 to 2017.
The fraud which has since been named as the country’s biggest corporate scandal was executed by Steinhoff’s executives and outsiders and up until now no arrests have been made even after taking more than 200 witness statements.
Markus Jooste who was the CEO at the time of the fraud is still a free man and has not faced any prosecution in relation to the fraud case.
Recently, Hawks department said that investigations are still going on however they cannot reveal the number of individuals being investigated.
The Steinhoff saga has been making headlines since 2017 however it has been more worrying that no arrests have been made and no useful information has been recovered to solve the saga.
