Steinhoff Europe’s Ex-CFO Faces Jail Over Accounting Scandal (1)

Steinhoff International Holdings NV’s former European finance chief, Dirk Schreiber, was handed a 3 1/2 year jail sentence by a German court, making him the first person to be imprisoned over an accounting scandal that led to the near-collapse of the retailer.

The Oldenburg court which issued the verdict on Monday also convicted ex-director Siegmar Schmidt, 64, and gave him a suspended sentence of two years. Both men won a reduction of one year because the probe took too long, the court said, meaning Schreiber, 52, must only serve 2 1/2 years. He was convicted of accounting violations and ...