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He also created a R100 million trust
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Steinheist

He also created aR100 million trust for emergencies for his staff. Tekkie Town was...

He also created a
R100 million trust for emergencies for his staff. Tekkie Town was a
fast-growing business, a cash-generating
business, debt-free

Full Transcript

00:00:01.000 --> 00:00:03.088
He also created a R100 million trust
00:00:03.881 --> 00:00:05.681
for emergencies for his staff.
00:00:06.004 --> 00:00:08.056
Tekkie Town was a fast-growing business,
00:00:08.561 --> 00:00:11.006
a cash-generating business, debt-free.
Duration
12 seconds
Views
24
Timestamp in Movie
00:29:29
Uploaded
Apr 29, 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 • E01 So, these are some of the issues that shareholders, - Steinheist 00:10
So, these are some of the issues that shareholders,
S01 • E03 Deloitte needs to take responsibility for what happened. - Steinheist 00:05
Deloitte needs to take responsibility for what happened.
S01 • E02 I mean, who doesn't want to be part of that business? - Steinheist 00:04
I mean, who doesn't want to be part of that business?
S01 • E03 I think they were one of the key failures - Steinheist 00:10
I think they were one of the key failures
S01 • E02 One afternoon Braam called me and he said, "Here's an idea for you." - Steinheist 00:14
One afternoon Braam called me and he said, "Here's...
S01 • E03 They screwed up, with any doubt, - Steinheist 00:08
They screwed up, with any doubt,
S01 • E01 The manufacturing, sourcing, - Steinheist 00:28
The manufacturing, sourcing,
S01 • E03 One of the root causes that we also discovered was that - Steinheist 00:15
One of the root causes that we also discovered was that
S01 • E02 They said, "Why don't you come - Steinheist 00:15
They said, "Why don't you come
S01 • E02 We were very excited, - Steinheist 00:24
We were very excited,
S01 • E01 And for the first time it sounded to us - Steinheist 00:08
And for the first time it sounded to us
S01 • E03 It's quite clear that people can almost describe Steinhoff - Steinheist 00:12
It's quite clear that people can almost describe Steinh...
S01 • E01 We felt they were gonna address that now, - Steinheist 00:08
We felt they were gonna address that now,
S01 • E03 Because the figures would indicate that, you know, there was very little - Steinheist 00:12
Because the figures would indicate that, you know, there was...
S01 • E01 We kind of allocated some capital, but it was a significant underweight. - Steinheist 00:05
We kind of allocated some capital, but it was a significant ...
S01 • E02 Steinhoff had already bought Pepkor from Christo Wiese - Steinheist 00:31
Steinhoff had already bought Pepkor from Christo Wiese
S01 • E01 If the stock in a market that's concentrated, like South Africa, - Steinheist 00:14
If the stock in a market that's concentrated, like Sout...
S01 • E03 In contradiction of the published audited accounts. - Steinheist 00:06
In contradiction of the published audited accounts.
S01 • E03 If someone is meticulous and devious in the way that they actually hide it, - Steinheist 00:11
If someone is meticulous and devious in the way that they ac...
S01 • E01 In the global markets we're a bit more purist - Steinheist 00:06
In the global markets we're a bit more purist