Steinhoff Accounting Scandal: South Africa's Financial Services Board institutes independent probe

South Africa's Financial Services Board has instituted an independent investigation into financial irregularities at Steinhoff International. The investigation in terms of the Financial Services Act, is over and above the current investigation by the Johannesburg stock exchange. The company has lost more than 12 billion dollars in market value since a scandal on accounting irregularities emerged on Wednesday. On Friday, the stock dropped 50 percent before making a slight recovery. CGTN's Sumitra Nydoo takes up the story Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgY Follow us on: Facebook: https://www.facebook.com/cgtnafrica/ Twitter: https://twitter.com/cgtnafrica