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They screwed up, with any doubt
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Steinheist

They screwed up, with any doubt, and it cost a lot ofpeople a lot of money

They screwed up, with any doubt, and it cost a lot of
people a lot of money

Full Transcript

00:00:01.000 --> 00:00:05.118
They screwed up, with any doubt,
00:00:05.119 --> 00:00:07.999
and it cost a lot of people a lot of money.
Duration
8 seconds
Views
23
Timestamp in Movie
00:29:48
Uploaded
Apr 28, 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 The manufacturing, sourcing, - Steinheist 00:28
The manufacturing, sourcing,
S01 • E03 One of the root causes that we also discovered was that - Steinheist 00:15
One of the root causes that we also discovered was that
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