By Lehlohonolo Lehana.
The Pretoria Specialised Commercial Crimes Court has granted former Steinhoff Chief Financial Officer (CFO) Andries Benjamin Le Grange R150 000 bail.
Le Grange appeared in court following his arrest on Wednesday morning.
Spokesperson Colonel Katlego Mogale said Le Grange, 49, was arrested by the Serious Economic Offences unit.
He faces two counts of racketeering in terms of the Prevention of Organised Crime Act, five counts fraud, one count corruption in terms of Prevention and Combating of Corrupt Activities Act and three counts of the contravention of Financial Markets Act in relation to the Steinhoff investigation, she said.
“Le Grange appeared along side his co-accused, Stepfanus Johannes Grobler, 74, former Head of Treasury,” Mogale said.
Grobler was arrested on March 22 and made his first appearance in court on March 25, where he was granted R150,000 bail.
“Today, he appeared again for a postponement and review of his bail conditions, “Mogale said.
“Le Grange was also granted R150,000 bail with conditions and both will appear again in the Specialised Commercial Crimes Court on October 4, 2024.”
Grobler was arrested on charges of fraud, a pattern of racketeering activities and contravention of Financial Markets Act against Steinhoff International Holdings.
He is accused of creating false documentation to support the fraudulent paper trail used to inflate and falsify the Steinhoff Group’s annual financial statements in those years.
According to Steinhoff’s 2016 annual report, Grobler was part of its executive committee.
Markus Jooste was the mastermind behind the Steinhoff scandal, South Africa’s most prominent corporate fraud. He committed suicide in Hermanus, Cape Town, on Thursday, 21 March.
Jooste was issued several fines or penalties in his personal capacity before his death. These included one from the FSCA for insider trading. Originally a R161.6-million fine, it was later reduced to R20-million when he appealed to the Financial Services Tribunal.