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And he realizes that there might actually be veracity in the claims that
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Steinheist

And he realizes that there mightactually be veracity in the claims that that this was...

And he realizes that there might
actually be veracity in the claims that that this was actually a giant
fraud, and they begin to panic

Full Transcript

00:00:01.000 --> 00:00:04.879
And he realizes that there might actually be veracity in the claims that
00:00:04.088 --> 00:00:08.016
that this was actually a giant fraud, and they begin to panic.
Duration
9 seconds
Views
23
Timestamp in Movie
00:51:49
Uploaded
Apr 28, 2025
Season
1
Episode
2
Genres
documentary, crime
Production
IdeaCandy

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Movie Summary

The biggest corporate scandal in South African history, the fall of Steinhoff led to a loss of R200 billion. Steinheist untangles the story: the investors who were taken in; the victims and the CEO, Markus Jooste, who's still a fr...
S01 • E03 The settlement was... Relative to the damage that was done, - Steinheist 00:09
The settlement was... Relative to the damage that was done,
S01 • E01 We highlighted a significant number of transaction - Steinheist 00:07
We highlighted a significant number of transaction
S01 • E03 But it was in the shareholders' interest to some extent that... - Steinheist 00:05
But it was in the shareholders' interest to some extent...
S01 • E02 And at 5 o'clock, he sent a lawyer - Steinheist 00:13
And at 5 o'clock, he sent a lawyer
S01 • E01 One company in particular that kept rearing its head was Fihag Finanz. - Steinheist 00:06
One company in particular that kept rearing its head was Fih...
S01 • E03 Because if the settlement were significantly bigger, - Steinheist 00:12
Because if the settlement were significantly bigger,
S01 • E01 Remember we talked about how in the early 2000s - Steinheist 00:25
Remember we talked about how in the early 2000s
S01 • E02 The message was, "He's offering his resignation." - Steinheist 00:08
The message was, "He's offering his resignation.&q...
S01 • E02 I phoned him and I said to him, "Look, you can mitigate whatever you've done - Steinheist 00:09
I phoned him and I said to him, "Look, you can mitigate...
S01 • E03 Yes, I do think Steinhoff is on a path to recovery. - Steinheist 00:09
Yes, I do think Steinhoff is on a path to recovery.
S01 • E02 Not resign, and help people sort out the mess." - Steinheist 00:13
Not resign, and help people sort out the mess."
S01 • E03 It would cease to exist, - Steinheist 00:07
It would cease to exist,
S01 • E03 Debt holders would lose a large chunk of their investment. - Steinheist 00:06
Debt holders would lose a large chunk of their investment.
S01 • E03 So the new management team that was brought in - Steinheist 00:10
So the new management team that was brought in
S01 • E01 And two years later Steinhoff decides, - Steinheist 00:10
And two years later Steinhoff decides,
S01 • E02 - That's the last time you spoke to him? - Last time I spoke to him. - Steinheist 00:04
- That's the last time you spoke to him? - Last time I ...
S01 • E03 We've changed the business model significantly. - Steinheist 00:09
We've changed the business model significantly.
S01 • E01 The question then becomes, "Who owns Fihag?" - Steinheist 00:17
The question then becomes, "Who owns Fihag?"
S01 • E03 We believe everyone and anyone who has a share in this company today - Steinheist 00:14
We believe everyone and anyone who has a share in this compa...
S01 • E01 It's a curious related-party deal. How did this happen? - Steinheist 00:04
It's a curious related-party deal. How did this happen?