Particle.news
Download on the App Store

Former Steinhoff Director Iwan Schelbert Sentenced to Five Years for R376 Million Fraud

The plea-based conviction is the third in the Steinhoff fraud saga, with remaining cases due back in court on 6 February.

Overview

  • Schelbert, 63, was handed five years’ direct imprisonment by the Pretoria Specialised Commercial Crimes Court on 16 January 2026 after a plea-and-sentence agreement.
  • He generated a fraudulent invoice to Switzerland-based TG Sources SARL on 21 November 2016 on instructions from then CFO Andries Benjamin la Grange, with supporting documents later created to disguise the transaction.
  • The scheme inflated Steinhoff at Work’s financial statements by more than R376 million, according to the National Prosecuting Authority.
  • The sentence marks the third secured prosecution tied to the Steinhoff scandal, following la Grange’s 10-year sentence in October 2024 and a 2024 insider‑trading conviction of Gerhardus Diedricks Burger.
  • Cases against remaining accused Hein Odendaal and Stephanus Johannes Grobler were postponed to 6 February 2026 as authorities continue broader investigations into the multibillion-euro accounting fraud revealed in 2017.