Former Steinhoff director sentenced to five years for R300 million fraud
Mapaballo Borotho
- Former Steinhoff director Iwan Peter Schelbert has been sentenced to five years in prison for fraud exceeding R300 million.
- The court found that a fraudulent invoice scheme inflated Steinhoff’s financial statements by more than R376 million.
- Proceedings against the remaining accused have been postponed to February 2026.
Former Steinhoff director Iwan Peter Schelbert has been sentenced to five years’ direct imprisonment for fraud exceeding R300 million.
The Pretoria Specialised Commercial Crimes Court sentenced the 63-year-old on Friday. Schelbert served as a director and member of Steinhoff at Work from 2004 until March 2018.
In 2016, he generated a fraudulent invoice for Switzerland-based TG Sources SARL at the instruction of then-Chief Financial Officer Andries Benjamin La Grange.
National Prosecuting Authority (NPA) Gauteng spokesperson Lumka Mahanjana said Stephanus Johannes Grobler and others later created supporting documentation, causing payments to be made to falsely represent the invoice as a legitimate transaction between Steinhoff at Work and TG Sources SARL.
“This fraudulent scheme resulted in the inflation of Steinhoff’s financial statements by more than R376 million,” Mahanjana said.
The NPA and the Directorate for Priority Crime Investigation (DPCI) welcomed the conviction and sentence, describing it as the third secured in the Steinhoff matter.
Mahanjana said the outcome demonstrates the commitment of both institutions to holding those responsible accountable in one of South Africa’s largest and most complex corporate fraud cases.
The case against the remaining accused, Hein Adendaal (67) and Stephanus Johannes Grobler (64), has been postponed to 6 February 2026 for further proceedings.
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