Political parties have welcomed the recent sentencing of former Steinhoff Chief Financial Officer (CFO), Andries Benjamin Le Grange, to five years imprisonment by the Pretoria Specialised Commercial Crimes Court.
Le Grange’s sentencing took place on Thursday.
According to National Prosecuting Authority (NPA), Le Grange entered into a plea and sentence agreement for one count of fraud of over R367 million, emanating from the manipulation of financial statements and failure to report fraudulent activities.
‘’Le Grange created documentation of transactions that supported the fraudulent transactions used to inflate and falsify the annual financial statements of the Steinhoff Group for the financial year 2016,’’ it said.
IOL on Thursday reported that Le Grange entered a plea and sentence agreement in which he will give evidence for the State against other alleged actors in further related criminal proceedings.
ActionSA welcomed the conviction, but expressed concerns over the leniency of Le Grange’s sentence.
The party argued that while the sentencing represents progress, it is insufficient, considering the massive scale of the fraud, which affected pensioners and ordinary South Africans.
Alan Beesley, ActionSA member of Parliament said: “While his sentencing is lenient considering the seriousness of his crimes, it marks a slow but steady shift in South Africa’s justice system towards exerting the full extent of the law against grand corruption, particularly in the private sector.”
ActionSA also highlighted the importance of Le Grange’s plea bargain in securing further evidence that could lead to the prosecution of other involved individuals.
The party reaffirmed its stance on corruption as "public enemy number one" and emphasised the need for stricter measures to protect South Africa’s financial integrity.
The Economic Freedom Fighters (EFF) voiced their dissatisfaction with what they termed a “soft-handed” approach by the NPA toward corporate criminals.
The party criticised the lenient sentencing of those involved in the Steinhoff fraud, particularly calling out the lighter treatment of white individuals involved in corporate crimes.
Leigh-Ann Mathys, EFF spokesperson said: “The sentence handed down appears extremely lenient, given the severity of the crimes and the enormous financial damage caused to workers and investors, including the Public Investment Corporation (PIC).”
The EFF condemned what it views as racial disparities in sentencing, calling for harsher penalties for corporate criminals regardless of their race.
While the African National Congress (ANC) also welcomed Le Grange’s sentencing, expressed disappointment that the punishment did not fully reflect the impact of the Steinhoff fraud on workers and pensioners.
The party emphasised the need for continued efforts in prosecuting all individuals involved in the scandal.
Mahlengi Bhengu, ANC national spokesperson, noted: “Corporate corruption, like public sector corruption, must be met with severe consequences.
‘’These convictions should be the start of tougher actions against white-collar crime in South Africa.”
The ANC also reiterated the importance of adhering to Financial Action Task Force (FATF) standards, which are essential in rebuilding public trust and maintaining South Africa’s financial integrity.
They have called on the NPA and judiciary to intensify their efforts to ensure justice for all victims.
IOL Politics