Jooste sacked as Steinhoff CEO

[schumi]

Steinhoff probe: PwC yet to question Markus Jooste

CAPE TOWN - PricewaterhouseCoopers (PwC) says it has had full cooperation from everyone concerned in its investigation into the Steinhoff accounting scandal, except for former CEO Markus Jooste.

Jooste is in hot water with Parliament after he declined, through his lawyers, a request to attend a joint committee hearing on Wednesday, saying it would put his right to a fair trial at risk.

The Hawks have, meanwhile, confirmed that they are investigating three complaints against Jooste.

More at : http://ewn.co.za/2018/03/28/steinhoff-probe-pwc-yet-to-question-markus-jooste#

 

[schumi]

Steinhoff Pressured to Halt ‘Unseemly’ Director-Bonus Plans

Steinhoff International Holdings NV, the retailer that’s lost more than 90 percent of its value since an accounting scandal erupted in December, has been urged by South African lawmakers to shelve plans to pay its directors bonuses.

This means that Steve Booysen, who has been a Steinhoff director since 2009, may not soon receive an extra 200,000 euros ($247,800). His colleagues Heather Sonn and Johan van Zyl may also have to wait for their proposed 200,000 euros and 100,000 euros bonuses respectively. Shareholders of the retailer, which has lost more than $12 billion in value, are scheduled to vote on the Frankfurt- and Johannesburg-listed company’s plans on April 20.

More at : https://www.bloomberg.com/news/arti...essured-to-halt-unseemly-director-bonus-plans

 

[nightjar]

Jooste is in hot water with Parliament after he declined, through his lawyers, a request to attend a joint committee hearing

http://ewn.co.za/2018/03/28/steinhoff-probe-pwc-yet-to-question-markus-jooste#


I can't see why Jooste is in hot water with Parliament considering that Bathabile Dlamini, Mosebenzi Zwane & Dudu Myeni have also refused to appear, some more than once.

 

[ForceFate]

Steinhoff probe: PwC yet to question Markus Jooste



More at : http://ewn.co.za/2018/03/28/steinhoff-probe-pwc-yet-to-question-markus-jooste#

Doesn't Qantas have a daily JNB - SYD service?

It's going to be very interesting.

 

[f2wohf]

Hawks accuse Steinhoff of 'malicious compliance'



More at : https://www.enca.com/money/hawks-accuse-steinhoff-of-malicious-compliance

Well, section 34 is the exact normal way of doing it.

You can’t really accuse them of not going further than the law...

 

[saturnz]

I can't see why Jooste is in hot water with Parliament considering that Bathabile Dlamini, Mosebenzi Zwane & Dudu Myeni have also refused to appear, some more than once.

I can't see why I have to pay speeding fines when there are so many others speeding.

I can't see why I must be convicted of a crime when others are getting away with it

I can't see why I must be a law abiding tax paying citizen when others are getting away with it

I can't see....

 

[Ho3n3r]

I can't see why I have to pay speeding fines when there are so many others speeding.

I can't see why I must be convicted of a crime when others are getting away with it

I can't see why I must be a law abiding tax paying citizen when others are getting away with it

I can't see....

I know a good optometrist. You clearly need it.

 

[Sideshow Bob]

I can't see why I have to pay speeding fines when there are so many others speeding.
I can't see why I must be convicted of a crime when others are getting away with it
I can't see why I must be a law abiding tax paying citizen when others are getting away with it
I can't see....

yah - mybroederband trying to discredit "black" or "ANC" judiciary in almost every thread now. If Judge happens to be european "african", then he/she is a sellout or carrying white guilt etc..

 

[Gordon_R]

Banks are allowing an orderly sale of some assets in the group, rather than a forced liquidation: https://www.fin24.com/Companies/Ret...sh-in-after-striking-deal-with-banks-20180425

 

[f2wohf]

The racing horse market is probably far from being big enough to allow a once off sale.

In order to not lose let’s say 70 or 80c on the dollar they need to let him sell slowly.

 

[AirWolf]

https://www.fin24.com/Companies/Ret...iese-hits-steinhoff-with-r59bn-claim-20180426

SA billionaire Christo Wiese sues Steinhoff for R59bn

Cape Town - Companies in Christo Wiese’s Titan Group announced on Thursday they are suing embattled retailer Steinhoff for R59bn.

The claims relate to investments made by Wiese’s companies in Steinhoff in 2015 and 2016, according to a statement issued by the Titan Group.

 

[Gordon_R]

https://www.fin24.com/Companies/Ret...iese-hits-steinhoff-with-r59bn-claim-20180426

SA billionaire Christo Wiese sues Steinhoff for R59bn

Already discussed in the other Steinhoff thread: https://mybroadband.co.za/vb/showth...hare-price-massacre-and-SA-Unit-Trusts/page13

AFAIK, the Wiese claim has nothing to do with Jooste personally.

 

[Gordon_R]

The first book on this saga will be published soon: http://ewn.co.za/2018/05/15/rob-rose-to-unpack-steinhoff-scandal-in-new-book

The book will be published by NB Publishers under the Tafelberg imprint, which was also the publisher of Jacques Pauw's bestselling The President's Keepers, and will be authored by Financial Mail editor Rob Rose.

"Steinheist will tell the tale of Steinhoff's spectacular crash, which wiped billions off the net worth of South African tycoons such as Christo Wiese and GT Ferreira, and off the pension funds of millions of ordinary South Africans, shortly before Christmas last year," says NB Publishers.

Rose has already interviewed key players in Germany, the Netherlands and South Africa.

He has been writing about similar financial scandals in South Africa for nearly two decades. After earning a law degree, he took on the corporate governance and finance beat at Business Day before moving to the Financial Mail in 2007, where he exposed the Barry Tannenbaum Ponzi scheme.

Later at the Sunday Times, he investigated shady contracts awarded by Fifa as part of the 2010 Soccer World Cup in South Africa and was part of the team that exposed corruption involving former ANC MP Dina Pule, which led to her dismissal as Communications Minister.

 

[f2wohf]

Seems like Jooste is bound to a Parliament grilling:

 

[Gordon_R]

Interesting article with lengthy analysis of the risks of charismatic leadership: https://www.fin24.com/Opinion/the-steinhoff-saga-part-three-crimes-of-entitlement-20180630-2

 

[Sideshow Bob]

Former Steinhoff CEO Markus Jooste begins his testimony.
https://www.fin24.com/Companies/Retail/live-markus-jooste-to-appear-before-parliament-20180904

I wonder what everyone's darling (till this minor matter came along) Stellies boytjie is going to say.

 

[f2wohf]

Former Steinhoff CEO Markus Jooste begins his testimony.
https://www.fin24.com/Companies/Retail/live-markus-jooste-to-appear-before-parliament-20180904

I wonder what everyone's darling (till this minor matter came along) Stellies boytjie is going to say.

I cannot answer this question as this would harm my rights to a fair trial and to defend myself.

x99

 

[TelkomUseless]

Nobody gets prosecuted in for a "failing" business (just like government/ANC people fraud and corruption).

So yea.. don't expect anything from him

 

[Sideshow Bob]

I cannot answer this question as this would harm my rights to a fair trial and to defend myself.

x99

Indeed. Must have been prepared by army of lawyers by now.

 

[pinball wizard]

I cannot answer this question as this would harm my rights to a fair trial and to defend myself.

x99

In terms of section 16 of the Powers and Privileges Act: Jooste must answer factually in connection with matters relating to the inquiry. But the evidence given under the oath may not be used against him in any court outside Parliament.