By Nkhensani Chauke
The African National Congress has welcomed the conviction of former Steinhoff CFO Andries Benjamin La Grange, demanding tougher action against corporate corruption.
He was sentenced to 10-years imprisonment, with five years suspended after pleading guilty and agreeing to assist the state in other prosecutions related to one South Africa’s largest corruption scandals.
He entered into a plea and sentence agreement in terms of section 105 A with the State on one count of fraud of over R367 million.
“His sentencing gives hope for stronger convictions against other parties still under prosecution in the Steinhoff corruption case. The punishment does not adequately mirror the devastating impact of Steinhoff’s fraud on workers and pensioners,” ANC spokesperson Mahlengi Bhengu-Motsiri said in a statement.
She said corporate and public sector corruption should have severe consequences.
“The ANC reiterates its stance that corporate greed, enabled by weak regulation, has destroyed livelihoods and these convictions should be the start of tougher actions against white collar crime in South Africa,” Bhengu-Motsiri said
Steinhoff was a multinational holding company that was listed in Germany and South Africa and was officially liquidated on 13 October 2023.
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