It’s not often that we get to see the details of how companies commit $7.4 billion worth of fraud.
This is so thick it’s hard to believe. It’s far beyond just a Brick & Mortar Meltdown.
“Shadow margin” is a hot business for brokers. Now they lick their wounds.
$21 billion of debt. Off-balance-sheet entities. Moody’s wakes up, downgrades it four notches, with more to come.
Steinhoff’s “accounting irregularities” crush its stock.