Hawks' failure to act on the Steinhoff heist appalling – COSATU

Federation says this represents the biggest corporate fraud in SA history

COSATU is appalled at the Hawks failure to act on the Steinhoff heist 

19 March 2019

The joint Parliamentary Committees of Finance, Trade and Industry, Public Service and Public Accounts brought Steinhoff, the Hawks, NPA before Parliament today to account for what has been done to recover the monies stolen by Steinhoff’s management and to bring the accused to book.

Steinhoff represents the biggest corporate fraud in South African history.  The billions of Rands looted at Steinhoff was not private funds.  It belonged to the Government Employees’ Pension Fund.  It is workers’ hard earned monies.

The meeting was also attended by National Prosecuting authority as well as the Hawks and other state agencies.

The joint committee meeting concluded that very little work has been done by the Hawks and the prosecuting agencies and that what little progress that has taken place is unsatisfactory. The manner in which this matter is being attended to is leading to a loss of confidence by the South African public into the State abilities to confront and stop corruption.

COSATU calls for decisive action from the Hawks and the NPA.  The federation calls upon Parliament to increase their oversight of the Steinhoff debacle investigation and prosecutions.

COSATU and its members further call for the recovery of the workers’ lost funds from those who were involved in enriching themselves from the various Steinhoff deals, as well as those who were asleep on the boards of Steinhoff. This must include Jayendra Naidoo who sat on Steinhoff’s Board and was once a senior trade unionist before 1994.  

The Asset Forfeiture Unit must move with speed and freeze the assets of Markus Jooste.  He has shown a complete disregard for pensioners, the public, Parliament and the law enforcement agencies.  Jooste continues to live the high life, whilst workers who lost their funds through the Steinhoff debacle are thrust into poverty.

Issued by Tony Ehrenreich, Deputy Parliamentary Office Coordinator, COSATU Parliament Office, 19 March 2019