Iwan Peter Schelbert (63) from Paarl Western Cape and Hein Odendaal (67) from Alberton, Gauteng appeared at the Pretoria Specialised Commercial Crimes Court together with their co-accused Stephanus Johannes Grobler (64) who was previously granted bail of R150 000. During their appearance, the two new suspects were each granted bail of R150 000.

The three are collectively facing charges of 9 counts of fraud worth millions of rands, manipulation of financial statement and failure to report fraudulent activities and racketeering.

Steinhoff was a multinational holding company that was listed in Germany and South Africa and was officially liquidated on 13 October 2023. Its holdings were in the retail sector primarily in furniture and household goods and included 43,8% stake in South Africa Pepkor group.

It is alleged that between 2014 and 2016 the then Chief Executive Officer, Markus Johannes Jooste, who is now deceased, and the three accused persons conducted racketeering activities within the Steinhoff group, as it was captured by certain executive employees.

During that period, it is alleged that Jooste played a major role in the management of the criminal enterprise. Furthermore, it is alleged that the three created documentation of transactions that supported fraudulent transactions used to inflate and falsify the annual financial statement of the Steinhoff Group.

In court, by means of an affidavit, the two told the court that they intend to plead not guilty to the offences and will prove their innocence and further asked the court to release them on bail. The state did not oppose their release on bail because they are not a flight risk. However, the state asked the court to impose stringent bail conditions.

In delivering the Judgement, Magistrate Nicca Setshogoe granted both accused persons bail with the following conditions:

• They should not interfere directly or indirectly with state witnesses
• They should report to their closest police station every Monday between 06:00am and 18:00pm
• They should hand over their passports to the Investigating Officer and should not apply for new ones.
• They should not travel outside South Africa and their respective provinces without informing the Investigation Officer.
• They should not commit any criminal offence.

The matter was postponed to 30 May 2025 to obtain a racketeering certificate and to arrange a trial date.

AS PROVIDED BY THE NATIONAL PROSECUTING AUTHORITY

READ MORE: Disgraced former Steinhoff CEO, Markus Jooste, has been fined R122-million for insider trading