Business21.03.2024

Report: Former Steinhoff CEO Markus Jooste has died

News24 and Newzroom Afrika report that Markus Jooste died by suicide on Thursday 21 March.

SAPS has confirmed that Hermanus police opened a docket relating to a shooting incident between 14:40 and 15:20 on Thursday – but the police did not name the individual in question.

“Our members were called out to a scene at a beach in Hermanus, where a 63-year-old man has succumbed to a gunshot wound to the head,” said Lt-Col Malcolm Pojie.

“He was still alive at the time; he was transported to the hospital, and he succumbed a few minutes after arrival at the hospital.”

“No foul play is suspected at this time,” Pojie added.

Further details surrounding Jooste’s reported death remain unclear.

R475 million fine

Earlier this week, the FSCA fined Jooste R475 million as part of its investigation into the massive fraud saga at Steinhoff International.

Court proceedings in both South Africa and Germany had identified him as one of several directors who were behind the collapse of Steinhoff.

Jooste has been accused of several crimes, including fraud and insider trading, since the FSCA began its investigation into Jooste at the end of 2022.

Jooste allegedly tipped off executives to sell their shares in Steinhoff ahead of the company’s downfall.

The FSCA’s investigation also found that Jooste and Dirk Schreiber – Steinhoff Europe’s former CFO – knowingly made false, deceptive, and misleading claims about Steinhoff’s financial position.

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