Steinhoff decided to sell these companiesto a third party to remove this risk. However, it...
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Steinhoff decided to sell these companies
to a third party to remove this risk. However, it actually lent the money to
the third party to finance this purchase and accounted for the interest
on these loans as revenue. Steinhoff then reacquired the
profitable segments of the businesses
to a third party to remove this risk. However, it actually lent the money to
the third party to finance this purchase and accounted for the interest
on these loans as revenue. Steinhoff then reacquired the
profitable segments of the businesses
Full Transcript
00:00:01.000 --> 00:00:06.719
Steinhoff decided to sell these companies
to a third party to remove this risk.
00:00:06.072 --> 00:00:12.032
However, it actually lent the money to
the third party to finance this purchase
00:00:12.321 --> 00:00:17.032
and accounted for the interest
on these loans as revenue.
00:00:17.321 --> 00:00:22.959
Steinhoff then reacquired the
profitable segments of the businesses.
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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...
