---
title: "FSCA slaps ex-Steinhoff legal and treasury chief Grobler with R359m fraud fine"
description: "The net tightens around Steinhoff’s inner circle. With a R359-million penalty, the FSCA signals that accountability for one of South Africa’s biggest corporate collapses will not end with boardroom exits or tragedy, but with personal financial consequences."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "AGE OF ACCOUNTABILITY"
author: "Neesa Moodley"
author_url: "https://www.dailymaverick.co.za/author/neesa-moodley/"
canonical_url: "https://www.dailymaverick.co.za/article/2026-03-02-fsca-slaps-exsteinhoff-legal-and-treasury-chief-grobler-with-r359m-fraud-fine/"
published: "2026-03-02T14:03:56"
lang: "en-ZA"
word_count: 302
---

# FSCA slaps ex-Steinhoff legal and treasury chief Grobler with R359m fraud fine

> The net tightens around Steinhoff’s inner circle. With a R359-million penalty, the FSCA signals that accountability for one of South Africa’s biggest corporate collapses will not end with boardroom exits or tragedy, but with personal financial consequences.

By Neesa Moodley · Published 2 March 2026, 16:03 SAST

## Key points
- The FSCA imposes a staggering R359-million fine on former Steinhoff executive Stephanus Grobler for fraudulent financial practices.
- This penalty focuses on misleading financial statements from 2014 to 2017, under Grobler’s oversight as legal and treasury chief.
- Grobler’s fine follows former CEO Markus Jooste’s even larger R475-million penalty and hints at broader accountability for corporate deceit.
- The unfolding investigation underscores the catastrophic fallout of Steinhoff’s collapse, with Grobler now facing severe personal financial repercussions.

## Content

Stephanus Johannes (Stéhan) Grobler, a former director of Steinhoff was this week handed the second-highest fine (R358,750,000 or R359-million) related to fraudulent financial statements for the 2014, 2015 and 2016 financial years, as well as the 2017 half year.

**Read more:**[Former Steinhoff executive granted bail of R150,000 as fraud case unfolds](https://www.dailymaverick.co.za/article/2024-03-25-former-steinhoff-executive-granted-bail-of-r150000-as-fraud-case-unfolds/)

During those time frames, Grobler served as company secretary, head of treasury and in-house legal counsel of the Steinhoff group. He was also a director of several Steinhoff subsidiary companies.

On Wednesday, 20 March 2024, the Financial Sector Conduct Authority (FSCA) announced it was fining former CEO Markus Jooste R475-million for contravening the Financial Markets Act by issuing false or deceptive statements about Steinhoff International, which Jooste knew or ought reasonably to have known were false, misleading or deceptive.

The FSCA waived any fines against Steinhoff’s former European finance chief, Dirk Schreiber, in return for his cooperation. Schreiber had already been sentenced to a prison term of three-and-a-half years by German authorities.

By the afternoon of Wednesday, 20 March, Jooste would have known about the R475-million fine and that Schreiber had cooperated with the investigation.

He died by suicide on Thursday, 21 March.

An investigation by the Financial Sector Conduct Authority found that Grobler had contravened the Financial Markets Act, specifically the provisions prohibiting the direct or indirect making or publication of false, misleading or deceptive statements.

**Read more:**[Steinhoff scandal aftermath — The ghost of R510m in fines looms large over Markus Jooste’s estate](https://www.dailymaverick.co.za/article/2024-03-30-steinhoff-scandal-aftermath-the-ghost-of-r510m-in-fines-looms-large-over-markus-joostes-estate/)

The financial statements issued by Steinhoff during the relevant period were found to be false, misleading or deceptive in respect of material facts that were either misstated or omitted. This assessment was made with reference to the information available at the time and the circumstances under which the statements were presented to the market. **DM**