The Pretoria Specialised Commercial Crimes Court has granted Andries Benjamin Le Grange, former Chief Financial Officer at Steinhoff, R150 000 bail.

Le Grange appeared in court following his arrest on Wednesday morning. The Serious Economic Offences unit arrested him.

FORMER STEINHOFF CFO ANDRIES LE GRANGE ARRESTED

Hawks spokesperson Katlego Mogale said Le Grange was arrested for two counts of racketeering under the Prevention of Organised Crime Act, five counts of fraud, one count of corruption under the Prevention and Combating of Corrupt Activities Act, and three counts of contravention of the Financial Markets Act in relation to the Steinhoff investigation.

Mogale said Le Grange appeared alongside his co-accused, Stephanus Johannes Grobler, 74, the former Head of Treasury.

As previously reported, Grobler was arrested on 22 March and appeared in court on 25 March, where he was granted R150 000.

Before Steinhoff’s liquidation in October last year, the company reportedly demanded that Grobler pay back close to R300 million in salaries, bonuses and incentives.

“Today, he appeared again for a postponement and review of his bail conditions. Le Grange was also granted R150 000 bail with conditions, and both will appear again in the Specialised Commercial Crimes Court on 4 October,” Mogale added.

FSCA INVESTIGATION CONTINUES DESPITE DEATH OF MARKUS JOOSTE

Markus Jooste was the mastermind behind the Steinhoff scandal, South Africa’s most prominent corporate fraud. He reportedly committed suicide in Hermanus, Cape Town, on Thursday, 21 March.

Following the alleged death, the Financial Sector Conduct Authority (FSCA) said the investigation into Steinhoff will continue as other investigating parties are involved.

The Authority said it will also continue to assist the Hawks and the National Prosecuting Authority (NPA) with any investigations they may have underway.

“As the penalty on the late Mr Jooste in his personal capacity was already imposed at the time of his death, his passing does not impact on the penalty.

“The FSCA is legally entitled to recover the penalty from the estate of the late Mr Jooste. Whether the Authority will claim against the estate will be decided at the appropriate time, considering all the relevant circumstances.”

SOURCE:Former Steinhoff CFO Andries Le Grange granted R150 000 bail (thesouthafrican.com)