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One of the root causes that we also discovered was that
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Steinheist

One of the root causes thatwe also discovered was that the firms had started to allowtheir...

One of the root causes that
we also discovered was that the firms had started to allow
their commercial interests to overtake their
professional responsibilities

Full Transcript

00:00:01.000 --> 00:00:04.084
One of the root causes that we also discovered was that
00:00:04.841 --> 00:00:10.088
the firms had started to allow their commercial interests
00:00:10.881 --> 00:00:14.721
to overtake their professional responsibilities.
Duration
15 seconds
Views
28
Timestamp in Movie
00:29:57
Uploaded
Apr 29, 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 • E02 They said, "Why don't you come - Steinheist 00:15
They said, "Why don't you come
S01 • E02 We were very excited, - Steinheist 00:24
We were very excited,
S01 • E01 And for the first time it sounded to us - Steinheist 00:08
And for the first time it sounded to us
S01 • E03 It's quite clear that people can almost describe Steinhoff - Steinheist 00:12
It's quite clear that people can almost describe Steinh...
S01 • E01 We felt they were gonna address that now, - Steinheist 00:08
We felt they were gonna address that now,
S01 • E03 Because the figures would indicate that, you know, there was very little - Steinheist 00:12
Because the figures would indicate that, you know, there was...
S01 • E01 We kind of allocated some capital, but it was a significant underweight. - Steinheist 00:05
We kind of allocated some capital, but it was a significant ...
S01 • E02 Steinhoff had already bought Pepkor from Christo Wiese - Steinheist 00:31
Steinhoff had already bought Pepkor from Christo Wiese
S01 • E01 If the stock in a market that's concentrated, like South Africa, - Steinheist 00:14
If the stock in a market that's concentrated, like Sout...
S01 • E03 In contradiction of the published audited accounts. - Steinheist 00:06
In contradiction of the published audited accounts.
S01 • E03 If someone is meticulous and devious in the way that they actually hide it, - Steinheist 00:11
If someone is meticulous and devious in the way that they ac...
S01 • E01 In the global markets we're a bit more purist - Steinheist 00:06
In the global markets we're a bit more purist
S01 • E01 So if Steinhoff was operating in the global setting, - Steinheist 00:09
So if Steinhoff was operating in the global setting,
S01 • E03 I think that there's the old saying, "If good men stay quiet, - Steinheist 00:10
I think that there's the old saying, "If good men ...
S01 • E02 But what we didn't know, what no one knew, - Steinheist 00:13
But what we didn't know, what no one knew,
S01 • E01 He managed to spin the web - Steinheist 00:07
He managed to spin the web
S01 • E03 In Afrikaans we call it, they are "skaamkwaad" - Steinheist 00:07
In Afrikaans we call it, they are "skaamkwaad"
S01 • E01 That it was just extremely difficult - Steinheist 00:14
That it was just extremely difficult
S01 • E02 We really only had little over a year within the Steinhoff structure, - Steinheist 00:15
We really only had little over a year within the Steinhoff s...
S01 • E03 I think it's important that we all put the facts on the table as we believe they are. - Steinheist 00:05
I think it's important that we all put the facts on the...