January 31, 2018 / 10:30 AM / 7 months ago

Steinhoff's former chairman Wiese says difficult to detect fraud if CEO is involved

CAPE TOWN (Reuters) - The former chairman of Steinhoff Christo Wiese told a parliamentary committee on Wednesday that it was difficult to detect fraud in a company especially when it involved a chief executive officer.

Wiese said he “understood people’s anger” after the firm admitted to accounting irregularities that triggered a slide in its shares that wiped more than $10 billion off its market capitalization.

Reporting by Wendell Roelf; Writing by Tanisha Heiberg; Editing by James Macharia

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