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I mean, Steinhoff was scarcely cold when Tongaat happened
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Steinheist

I mean, Steinhoff was scarcelycold when Tongaat happened

I mean, Steinhoff was scarcely
cold when Tongaat happened

Full Transcript

00:00:01.000 --> 00:00:05.072
I mean, Steinhoff was scarcely cold when Tongaat happened.
Duration
6 seconds
Views
21
Timestamp in Movie
00:50:01
Uploaded
Apr 30, 2025
Season
1
Episode
3
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 And the rest! It will happen again. - Steinheist 00:04
And the rest! It will happen again.
S01 • E03 It's amazing that you say that, because people talk about how we must stop this - Steinheist 00:09
It's amazing that you say that, because people talk abo...
S01 • E01 What it would do, what a lot of companies do, - Steinheist 00:06
What it would do, what a lot of companies do,
S01 • E02 And sometimes the idea that they might get caught, - Steinheist 00:08
And sometimes the idea that they might get caught,
S01 • E01 They say, "The difference between today I value it R1 billion, - Steinheist 00:06
They say, "The difference between today I value it R1 b...
S01 • E03 We have fragmented regulation in South Africa at the moment. - Steinheist 00:11
We have fragmented regulation in South Africa at the moment.
S01 • E01 I'll take the R1 billion difference into my profit and say, - Steinheist 00:07
I'll take the R1 billion difference into my profit and ...
S01 • E02 At that stage - Steinheist 00:12
At that stage
S01 • E03 Audit committee members, board members... You can take away their designations, - Steinheist 00:11
Audit committee members, board members... You can take away ...
S01 • E01 It's not a fair reflection of what your company is making. - Steinheist 00:04
It's not a fair reflection of what your company is maki...
S01 • E01 I think it's important to emphasise that if it were just one big issue, - Steinheist 00:10
I think it's important to emphasise that if it were jus...
S01 • E03 That is because there's an act that regulates auditors. - Steinheist 00:04
That is because there's an act that regulates auditors.
S01 • E02 And over that weekend, I then communicated with PWC - Steinheist 00:13
And over that weekend, I then communicated with PWC
S01 • E03 The other portions of the financial reporting chain, or the ecosystem, - Steinheist 00:06
The other portions of the financial reporting chain, or the ...
S01 • E01 There were a number of issues. Some of them were red flags. - Steinheist 00:11
There were a number of issues. Some of them were red flags.
S01 • E03 All those role players should be subject to regulation. - Steinheist 00:13
All those role players should be subject to regulation.
S01 • E01 But you had to put all of these together in order to come to the view, - Steinheist 00:11
But you had to put all of these together in order to come to...
S01 • E02 He comes back on the Monday. He says to Christo Wiese, - Steinheist 00:06
He comes back on the Monday. He says to Christo Wiese,
S01 • E01 A lot of these analysts sit inside investment banks - Steinheist 00:14
A lot of these analysts sit inside investment banks
S01 • E02 I'm just gonna go home and have a shower." - Steinheist 00:07
I'm just gonna go home and have a shower."