Former chairman Wiese sues Steinhoff for $5 billion

South African businessman Christo Wiese has launched a $5 billion lawsuit against crisis-hit Steinhoff (J:SNHJ), a retail company in which he was a board member and biggest shareholder until earlier this year, his company Titan Group said.

Wiese resigned as chairman in December last year, days after Steinhoff uncovered accounting irregularities that sent its shares crashing,$1 = 12.3600 rand./

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