By Rene Vollgraaff
Steinhoff International Holdings NV’s former Chief Financial Officer, Ben la Grange, was sentenced to 10 years in prison on charges of fraud related to the manipulation of the group’s financial statements.
The Pretoria Specialised Commercial Crimes Court ruled that five years of La Grange’s sentence will be suspended for five years on condition that he’s not found guilty of fraud in a higher court during that period.
He will also have to provide evidence to the state in any further criminal proceedings against directors, officers and employees of Steinhoff, the South African Police Service said in a statement on Thursday
La Grange entered into a plea agreement for one count of fraud of more than 367 million rand ($21 million), the police said.
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