Coca-Cola urges buyers to report fake products
R20 billion – was significant. MPs also heard earlier that inflated profits, assets acquired at inflated values and the fact that Steinhoff did not have a single auditor was responsible for the accounting scandal that collapsed the multinational retailer’s share price, La Grange told MPs.
La Grange said he did not believe he did anything wrong despite being suspended from his consulting position last week.
“From my side, I don’t think I did anything wrong,” he said.
Explaining the inflated profits, La Grange said a seemingly non-existent buying group, funded via a loan from Steinhoff, was set up.
“What transpired there was a buying group and this buying group paid additional rebates to operating entities, therefore the companies showed profits.”
He then went on to point the finger at former chief executive Markus Jooste, who is under criminal investigation.
He said assets were acquired at inflated values by third parties being “influenced by the previous CEO”.
La Grange stepped down as chief financial officer in January, a month after Jooste quit, but stayed on as a consultant for Steinhoff companies in France and the US. His suspension from this post was confirmed by Steinhoff board and management. – African News Agency (ANA) COCA-COLA urged customers to report any counterfeit Coca-Cola product if they believe it might have been compromised.
This comes after counterfeit goods and expired food were confiscated during raids.
Coca-Cola said there were reports of counterfeit Coca-Cola products appearing in the country.
“Coca-Cola takes every consumer’s concern seriously and we have procedures in place designed to respond to any matter relating to our products.
“To date, there has been no official contact made to us by any consumer who has bought such products,” Coca-Cola said.
The company said all the ingredients and methods used in the manufacturing process of their beverages comply with the health and safety regulations.
“We are tracking online concerns and urge any person who has had any product that they believe might have been compromised, to immediately report it to our customer care line on 0860 112 526 so we can investigate the matter,” Coca-Cola said.
The company said it took every consumer query very seriously and was committed to resolving such complaints fully.
Minister of Health Aaron Motsoaledi’s spokesperson Popo Maja said the department received a high volume of complaints over the past few days about dangerous food items being sold in townships across the country.
National Consumer Commission also said it was dealing with allegations of illicit fake and potentially harmful food products and they were calling on people to report fake or substandard goods and food products. – African News Agency (ANA)
‘WE ARE TRACKING ONLINE CONCERNS AND URGE CUSTOMERS TO REPORT SO WE CAN INVESTIGATE’