I listened to him very carefully,he's an intelligent guy. Appeared to have donehis...
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I listened to him very carefully,
he's an intelligent guy. Appeared to have done
his homework very well. He gives Christo Wiese
a 40-page slide pack saying, "These are the reasons why
we're uncomfortable with Steinhoff." And what Craig worked out which
was fundamental in Steinhoff is that about 41% of the profits that
it would announce had come not from actually doing sales and
putting money in the bank, but from fancy
accounting tricks
he's an intelligent guy. Appeared to have done
his homework very well. He gives Christo Wiese
a 40-page slide pack saying, "These are the reasons why
we're uncomfortable with Steinhoff." And what Craig worked out which
was fundamental in Steinhoff is that about 41% of the profits that
it would announce had come not from actually doing sales and
putting money in the bank, but from fancy
accounting tricks
Full Transcript
00:00:01.000 --> 00:00:04.959
I listened to him very carefully,
he's an intelligent guy.
00:00:04.096 --> 00:00:07.048
Appeared to have done
his homework very well.
00:00:08.279 --> 00:00:11.959
He gives Christo Wiese
a 40-page slide pack
00:00:11.096 --> 00:00:14.076
saying, "These are the reasons why
we're uncomfortable with Steinhoff."
00:00:15.199 --> 00:00:18.718
And what Craig worked out which
was fundamental in Steinhoff
00:00:18.719 --> 00:00:22.758
is that about 41% of the profits that
it would announce had come not from
00:00:22.759 --> 00:00:25.001
actually doing sales and
putting money in the bank,
00:00:25.999 --> 00:00:27.001
but from fancy
accounting tricks.
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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...
