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It was a deal that didn't stand up to scrutiny
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Steinheist

It was a deal that didn'tstand up to scrutiny as it was clearly set upto exploit a...

It was a deal that didn't
stand up to scrutiny as it was clearly set up
to exploit a loophole

Full Transcript

00:00:01.000 --> 00:00:03.064
It was a deal that didn't stand up to scrutiny
00:00:03.641 --> 00:00:07.121
as it was clearly set up to exploit a loophole.
Duration
7 seconds
Views
19
Timestamp in Movie
00:24:21
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 • E01 It's a cheap way of doing business, especially if the share price is high. - Steinheist 00:06
It's a cheap way of doing business, especially if the s...
S01 • E02 I don't want to sound like a goody two shoes, but that's a no-no. - Steinheist 00:07
I don't want to sound like a goody two shoes, but that&...
S01 • E03 At face value, it makes sense to say no one would enter into a transaction - Steinheist 00:11
At face value, it makes sense to say no one would enter into...
S01 • E02 I mean, for a CEO to have an affair - Steinheist 00:08
I mean, for a CEO to have an affair
S01 • E01 As long as the value of those Steinhoff shares keeps going up, - Steinheist 00:07
As long as the value of those Steinhoff shares keeps going u...
S01 • E01 But if the shares should lose value by 97%, in Steinhoff's case, - Steinheist 00:12
But if the shares should lose value by 97%, in Steinhoff...
S01 • E02 I fired at least two senior executives because of that. - Steinheist 00:07
I fired at least two senior executives because of that.
S01 • E03 I do think, though, that people sometimes enter transactions - Steinheist 00:07
I do think, though, that people sometimes enter transactions
S01 • E02 Because you lose the trust of the people that report to you. - Steinheist 00:07
Because you lose the trust of the people that report to you.
S01 • E03 It pushes the envelope when it comes to tax rules, - Steinheist 00:15
It pushes the envelope when it comes to tax rules,
S01 • E02 of 40 odd years every day, why wouldn't he lie to me? - Steinheist 00:10
of 40 odd years every day, why wouldn't he lie to me?
S01 • E01 We will continue to follow the developments of what has been dubbed - Steinheist 00:08
We will continue to follow the developments of what has been...
S01 • E03 I never could believe that these figures were coloured. Never. - Steinheist 00:05
I never could believe that these figures were coloured. Neve...
S01 • E01 I was then called to another meeting - Steinheist 00:11
I was then called to another meeting
S01 • E03 Our business style was to have top people and to believe top people. - Steinheist 00:06
Our business style was to have top people and to believe top...
S01 • E02 If the guy jumps the fence once or twice, yeah, you can... - Steinheist 00:05
If the guy jumps the fence once or twice, yeah, you can...
S01 • E03 I never was in these meetings because the finance department was not my job. - Steinheist 00:07
I never was in these meetings because the finance department...
S01 • E02 But when he starts an affair, he goes to the same address all the time, - Steinheist 00:09
But when he starts an affair, he goes to the same address al...
S01 • E03 And they always said everything is okay. I had a shock, a real shock. - Steinheist 00:06
And they always said everything is okay. I had a shock, a re...
S01 • E02 I find that hard to believe that, you know, the existence of a mistress - Steinheist 00:11
I find that hard to believe that, you know, the existence of...