Steinhoff International Holdings N.V.

www.claimsfundingeurope.eu/projects/...reholder-class-action/

'A subsequent investigation into Steinhoff revealed, among other things, that:

• for years, Steinhoff executives had structured and implemented transactions that had the result of substantially inflating the profit and asset values of the Company;

• Steinhoff entered into fictitious and/or irregular transactions with third parties that it falsely claimed were independent; and

• Steinhoff created fictitious and/or irregular income in its holding companies and allocated that income to its underperforming operating companies.

Corporate misconduct & losses to shareholders

When listed companies withhold crucial information from their shareholders it often causes steep losses to investors'.

'This trust in Louis du Preez, Theodore de Klerk, as well as in management and directors, proved to be misplaced'.

As Warren Buffett has wisely counseled never invest in something you don’t trust.

'The Steinhoff board of directors, long viewed as one of the strongest and most dependable, has come under fierce criticism for failing to exercise its fiduciary duty. Describing the board, one fund manager stated that it was “ineffective, not independent'

It’s a buddy-buddy system, a bunch of people who know each other and have worked together for years. It strips them of their capacity to question things that don’t make sense.

Capacity

Lastly, said Styan, the Steinhoff case – and other large investigations like VBS Mutual Bank – raises questions of capacity to investigate and prosecute financial crimes.

SARS has been tightening the screws on tax dodgers, while cases like VBS and Steinhoff have thrown the spotlight on large-scale financial crime.

Styan believes Steinhoff’s tumble did not occur in isolation.

“How much of our financial system is a deck of cards that can come tumbling down at any minute?” Styan asked.

Should a major clean-up ensue, he argued, it was unclear whether there would be capacity to follow through.

In addition to the “multitude” of investigations – financial and otherwise – facing the Hawks, Styan argued that state prosecutors would face a “huge imbalance” of capacity against billionaires with large legal teams and a wide range of resources at their disposal.

mg.co.za/article/...-steinhoff-may-be-the-tip-of-the-iceberg/

@Berliner_:

'Sorry, but what you are doing is nothing but bashing and I am asking myself, how can someone bash the company whose valuable CVRshe is  owning?? '

'Now you are a happy CVR owner! Is that not great?!! '

'Without their hard work, which means sacrificing their own free time, for the company and for the former shareholders, you wouldn't have been able now to own these valuable CVRs'

To Berliner:

You constantly talks about 'CVR's' in all your posts, but what is a 'CVR'? Can you explain more about it, because I do not know what you mean by CVR's.

I am very surprised that you can have a look in my account! I will have a talk with my broker because I do not want any person to have a look in my account. But I am happy that you warned me about this. I will not report you for this forbidden action.....

Anyway: You said 'I am the owner of CVR's' ,but I can't find them in my account. Maybe you can help me? Many thanks.

By the way : I love Berliner Bols....