THIRD STEINHOFF BOSS CAGED AS R376 MILLION FRAUD SCHEME UNRAVELS—BUT THE BIG FISH ARE STILL SWIMMING FREE
Another corporate predator has been slammed behind bars. Iwan Peter Schelbert, a former Steinhoff director, was just sentenced to five years in prison for a shocking R376 million fraud. This is the THIRD conviction in the massive scandal that vaporized the life savings of ordinary South Africans.
Court records reveal the sickening plot: Schelbert, 63, generated a PHANTOM INVOICE for a Swiss company in 2016. He did it on the direct orders of Steinhoff’s then-chief financial officer, Andries Benjamin la Grange. The sole purpose? To BLOAT the company’s financial statements by over R376 million and FOOL investors.
This is not an isolated crime. It’s a PATTERN. La Grange himself got a 10-year sentence. Another former executive was nailed for insider trading. The Hawks and NPA want you to believe they are “holding perpetrators accountable.” But look closer: key players like ex-CEO Markus Jooste cheated justice by dying in a dramatic suicide. Other accused executives have had their cases postponed to 2026.
WHO REALLY PAYS? Not them. While these white-collar criminals cut plea deals, remember the VICTIMS: the pensioners, the moms and dads, whose investments were obliterated when Steinhoff’s house of cards collapsed. The share price PLUMMETED. Billion were wiped out. The system protects its own until the pressure becomes too great.
The real question they don’t want you to ask is simple: How many more “former directors” are still living in luxury, waiting for the world to forget the billions they stole?
Author: Kayitsi.com
