Steinhoff could face charges

A docket of inquiry for criminal charges against beleaguered global retailer Steinhoff and its directors following allegations of fraudulent transactions is to be opened by the Progressive Professionals Forum (PPF).

The forum said it would also write a report to the public protector requesting her to initiate a comprehensive inquiry into asset management companies sub-contracted by the Public Investment Corporation to assess if they are not also involved in alleged acts of economic terrorism.

It would also be lodging a complaint with the SA Revenue Service for possible tax crimes.

“What is of major concern to the PPF is that the allegations and the revelations – which have caused Steinhoff’s share price to drop – are not only funds of private citizens but funds of civil servants whose pension funds are managed by the Public Investment Corporation.”

The PIC had invested billions in Steinhoff equities‚ the forum said.

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