SA to launch its own prosecution on Steinhoff fraud scandal – Hawks

sa to launch its own prosecution on steinhoff fraud scandal hawks

JOHANNESBURG – Hawks head Godfrey Lebeya said that South Africa would launch its own prosecution on the Steinhoff fraud scandal.

This comes amid a recent announcement by a German court that disgraced former CEO, Markus Jooste, would be tried on the case in that country early next year.

Lebeya provided an on Tuesday on various investigations by the law enforcement agency.

Steinhoff allegedly inflated the value of its profits and assets by more than R100 billion during 2009 and 2017 and tricked several investors into placing their assets within the company.

Lebeya said that the decision by German authorities to prosecute Jooste and other executives would have no bearing on South Africa’s plans to launch its own prosecution.

“Both sides will have the time to prosecute. There will be extradition processes, so that each of the jurisdictions can have their time to prosecute,” Lebeya said.

The Hawks head said that while they had made progress on investigating the matter, they were still waiting for the outcome of a mutual legal assistance request.

Mutual legal assistance refers to an agreement between two or more countries to share information in a bid to enforce the law.

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