PPF opens docket of inquiry for criminal charges against Steinhoff

The Progressive Professionals Forum (PPF) says it is opening a docket of inquiry for criminal charges against beleaguered global retailer Steinhoff and its directors following allegations of fraudulent transactions.

Markus Jooste (CEO) Steinhoff .
Pix by the Jeremy Glyn 

The forum said it would also write a report to the Public Protector requesting her to initiate a comprehensive enquiry into asset management companies sub-contracted by the Public Investment Company (PIC) to assess if they are not also involved in alleged acts of economic terrorism.

Government employee’s pensions are safe amid Steinhoff crash

It would also be lodging a complaint with the South African Revenue Service (SARS) for possible tax crimes.

‘No way back’ for Steinhoff as share price plunge nears 90%

“What is of major concern to the PPF is that the allegations and the revelations which have caused Steinhoff’s share price to drop are not only funds of private citizens but funds of civil servants in particular poor blacks – who are in a majority in the Public Sector and other civil servants whose pension funds are managed by the Public Investment Corporation which has invested billions in Steinhoff equities‚” the PPF said in a statement.

– TimesLIVE

Source: TMG Digital.

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