WATCH: Two cases of insider trading registered in Steinhoff scandal

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CAPE TOWN - Disgraced global retail group Steinhoff appeared before Parliament on Wednesday.

MPs want details on accounting irregularities in Steinhoff&39;s financial statements.

 

 

 

 

 

 

 

Steinhoff&39;s acting chairwoman Heather Sonn said the company reported former CEO Markus Jooste to the Hawks.

The Financial Services Board (FSB) said it is investigating two cases of possible insider trading and one of false or misleading statements relating to Steinhoff.

The FSB has requested information from German authorities, including the Frankfurt Stock Exchange, and is in regular contact with the Johannesburg Stock Exchange, it added.

READ: Steinhoff again postpones publishing audited financials

The Government Employees Pension Fund (GEPF) said its shareholding in Steinhoff depreciated from R24.1-billion on 30 November 2017 to R1.8-billion by 31 December 2017.

The giant retailer asked PwC to investigate those irregularities, and postponed the release of its financial results.

Its share price plummeted last month following the debacle.

- Additional reporting: Reuters