Gift that will keep taking: Steinhoff, PwC captured NPA
STEINHOFF must sit on two equally shameful horns of a dilemma.
The company made around R30 million available for a forensic investigation into itself. Either the money is a gift to the state, or it is an investment related to the core business of Steinhoff. Both scenarios get it into trouble. Here is how.
If it is a gift, then Steinhoff is in trouble because it should not be gifting money to others while it is under enormous financial distress with legitimate claimants waiting to be duly compensated in light of the gigantic historic fraud that led to the near collapse of this corporate giant.
It would amount to a fundamental breach of fiduciary
