Cape Town — Two more people – Hein Odendaal and Iwan Schelbert – were arrested for their alleged role in the Steinhoff fraud case.
Odendall (67) and Schelbert (63) were arrested on a series of charges including the contravention of the Prevention of Organised Crime Act and the contravention of the Financial Markets Act, EWN reported.
Odendaal and Schelbert joined former Steinhoff executive, Stephanus Grobler, at the Pretoria Specialised Commercialised Crimes Court on Friday and it is alleged that both former directors were involved in creating fictitious transactions valued at R197 billion which led to the company’s undoing.
Odendaal was previously listed as the managing director at Steinhoff affiliates, while Schelbert was the longstanding director at the company.
SAFTU welcomes the arrest of two former Steinhoff executives, Hein Odendaal and Peter Schelbert. The two handed themselves over to the Hawks’ Serious Commercial Crimes Investigation Unit on 14 February 2025 and were later granted bail of R150,000 after being charged.
Their…
— Zwelinzima Vavi (@Zwelinzima1) February 14, 2025
According to TimesLIVE, Schelbert and Odendaal were each granted bail of R150,000.
“The three are collectively facing nine counts of fraud worth millions of rand, manipulation of financial statement and failure to report fraudulent activities and racketeering,” National Prosecuting Authority (NPA) spokesperson Lumka Mahanjana said.
It is believed that between 2014 and 2016 former Steinhoff CEO, Markus Jooste, along with Grobler, Odendaal and Schelbert, were accused of racketeering activities within the Steinhoff group.
Schelbert and Odendaal said in an affidavit to the court they intended to plead not guilty to the offences and would prove their innocence. The state did not oppose their bail and Magistrate Nicca Setshogoe imposed serious conditions upon granting them bail.
Setshogoe said the accused must not interfere with state witnesses, must report to their closest police station every Monday hand over their passports to the investigating officer and not apply for new ones.
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Compiled by Matthew Petersen
