It came like a bolt out of the blue! – Christo Wiese (on the Steinhof crisis)

Christo Wiese. Picture: Supplied.

Christo Wiese says the crisis at Steinhoff came like a bolt from the blue.

The former Steinhoff Chairperson – and largest shareholder – spoke in Parliament on Wednesday.

The billionaire, who invested R55 billion in Steinhoff, says he was unaware of any wrongdoing.

Normally when you’re in a business - and you’re responsible- you can see the problems coming, you’re aware of them. The sales go down, the liquidity dries up, people start leaving the sinking ship, and you can take corrective action – but this came like a bolt out of the blue.

Christo Wiese

Wiese claims he first became aware that something was wrong three days before Steinhoff had to wrap up its accounts for its December board meeting.

The Money Show’s Bruce Whitfield interviewed EWN reporter Gaye Davis.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

MPs find it very difficult to believe…

Gaye Davis, EWN

Wiese said that there are cleverer people than the Steinhoff board who has been duped before.

Gaye Davis, EWN

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