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flag South Africa’s FSCA fined ex-Steinhoff exec Stéhan Grobler R359 million for falsifying financial statements from 2014–2017.

flag The Financial Sector Conduct Authority fined former Steinhoff executive Stéhan Grobler R359 million for his role in issuing false financial statements between 2014 and 2017, violating South Africa’s Financial Markets Act. flag The penalty, one of the largest in the country’s history, stems from the company’s massive fraud scandal. flag Grobler, who held multiple senior roles including company secretary and head of treasury, is also facing repayment demands of nearly R300 million in bonuses and salaries paid based on misleading financial data. flag The FSCA previously fined former CEO Markus Jooste R475 million, while waiving penalties for former European finance chief Dirk Schreiber in exchange for cooperation.

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