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Forensic probe report into Steinhoff to be released at end of the month

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A forensic experts report by PricewaterCoopers is set to make a difference by helping investigators prepare a criminal case against Steinhoff executives

A forensic experts report by PricewaterCoopers is set to make a difference by helping investigators prepare a criminal case against Steinhoff executives. File photo.

The forensic experts’ report prepared by PricewaterCoopers could assist investigators in preparing a criminal case against those implicated in the alleged Steinhoff fraud.

According to reports, National Director of Public Prosecutions, Shamila Batohi, said a new auditor report was due to be released at the end of the month.

The NPA has been wildly criticised for its slow pace in prosecuting of the case.

The criticism escalated when, two weeks ago, German authorities announced that it would bring charges against three executives of the furniture company.

The probe into Steinhoff’s financial misdealing is two-fold, with the other part being conducted by German authorities. Steinhoff had its primary listing in Germany.

While the German authorities did not name the executives, the furniture company’s CEO, Markus Jooste, and its former chief for Europe, Dirk Schreiber have been under investigation since the scandal broke in 2015.

Steinhoff is paying as much as R30 million toward the additional forensic work. The NPA came under fire for accepting funds from Steinhoff for its investigation.

Last week, the NPA in a statement broke its silence about the Steinhoff probe funding, citing that while it supports the investigation into the furniture retailer it did not receive any funds. It added that the NPA can use the findings appropriately to prepare any possible prosecutions.

BUSINESS REPORT ONLINE