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I used the money to put a deposit on a house
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Steinheist

I used the money to puta deposit on a house

I used the money to put
a deposit on a house

Full Transcript

00:00:01.000 --> 00:00:05.000
I used the money to put a deposit on a house.
Duration
5 seconds
Views
31
Timestamp in Movie
00:10:25
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 I met Markus Jooste the first time in 1979. - Steinheist 00:08
I met Markus Jooste the first time in 1979.
S01 • E02 Look, I think if you analyse country by country - Steinheist 00:13
Look, I think if you analyse country by country
S01 • E03 The Federation would like to assure - Steinheist 00:23
The Federation would like to assure
S01 • E01 So, Johann, I want to say thanks so much for agreeing to speak to us about this. - Steinheist 00:05
So, Johann, I want to say thanks so much for agreeing to spe...
S01 • E01 So that particular time at Wilgenhof, it was the late '70s, early '80s. - Steinheist 00:06
So that particular time at Wilgenhof, it was the late '...
S01 • E02 So that's why, you know, Godfrey, I'm not a fan of macroeconomic statements - Steinheist 00:09
So that's why, you know, Godfrey, I'm not a fan of...
S01 • E01 Can you perhaps sketch a portrait of what the dynamics were? - Steinheist 00:05
Can you perhaps sketch a portrait of what the dynamics were?
S01 • E01 Yes. There was of course the initiation of first years - Steinheist 01:00
Yes. There was of course the initiation of first years
S01 • E02 When we looked at the problem of Steinhoff, - Steinheist 00:06
When we looked at the problem of Steinhoff,
S01 • E03 There is a pension fund where you put in your money and you hope for the best. - Steinheist 00:05
There is a pension fund where you put in your money and you ...
S01 • E03 We refer to that as a defined contribution fund because you are only told - Steinheist 00:07
We refer to that as a defined contribution fund because you ...
S01 • E02 There was lack of diversity at the board level, - Steinheist 00:06
There was lack of diversity at the board level,
S01 • E03 We are hoping that over the life of your employment then, - Steinheist 00:23
We are hoping that over the life of your employment then,
S01 • E02 Because remember, the way the companies are run, - Steinheist 00:07
Because remember, the way the companies are run,
S01 • E02 The people who are running the company on a daily basis are the exco, - Steinheist 00:09
The people who are running the company on a daily basis are ...
S01 • E02 what tends to happen is that - Steinheist 00:08
what tends to happen is that
S01 • E03 So the government employee pension fund is a defined benefit model. - Steinheist 00:27
So the government employee pension fund is a defined benefit...
S01 • E02 And if they're coming from the same either race, culture, - Steinheist 00:08
And if they're coming from the same either race, cultur...
S01 • E02 They're likely not to question anything that the chairperson does. - Steinheist 00:06
They're likely not to question anything that the chairp...
S01 • E02 So that then creates a problem, because then people start to think the same way. - Steinheist 00:11
So that then creates a problem, because then people start to...