I wanted to put this to thecompany and hear their side. So, I emailed Steinhoff and we set...
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I wanted to put this to the
company and hear their side. So, I emailed Steinhoff and we set up
a meeting in Cape Town in Stellenbosch. And I flew down one morning, had the
meeting around lunchtime, and flew back. It took a whole day, but it was important enough because of
the seriousness of what I had found. And if what I found was correct, it meant that the profitability of
Steinhoff was significantly overstated. They gave very good answers, but
I still had a niggling worry, even after the meeting, where it just didn't fit well with
me, all the answers that they gave
company and hear their side. So, I emailed Steinhoff and we set up
a meeting in Cape Town in Stellenbosch. And I flew down one morning, had the
meeting around lunchtime, and flew back. It took a whole day, but it was important enough because of
the seriousness of what I had found. And if what I found was correct, it meant that the profitability of
Steinhoff was significantly overstated. They gave very good answers, but
I still had a niggling worry, even after the meeting, where it just didn't fit well with
me, all the answers that they gave
Full Transcript
00:00:01.000 --> 00:00:05.016
I wanted to put this to the
company and hear their side.
00:00:05.721 --> 00:00:10.599
So, I emailed Steinhoff and we set up
a meeting in Cape Town in Stellenbosch.
00:00:10.006 --> 00:00:16.119
And I flew down one morning, had the
meeting around lunchtime, and flew back.
00:00:16.012 --> 00:00:17.439
It took a whole day,
00:00:17.044 --> 00:00:21.028
but it was important enough because of
the seriousness of what I had found.
00:00:21.281 --> 00:00:24.024
And if what I found was correct,
00:00:24.241 --> 00:00:27.641
it meant that the profitability of
Steinhoff was significantly overstated.
00:00:27.642 --> 00:00:31.076
They gave very good answers, but
I still had a niggling worry,
00:00:31.761 --> 00:00:33.999
even after the meeting,
00:00:34.000 --> 00:00:37.519
where it just didn't fit well with
me, all the answers that they gave.
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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...
