As the debate continues over former Steinhoff CEO Markus Jooste’s death, questions remain over who will take over his debt.
Jooste killed himself after he was slapped with a R475 million fine by the Financial Sector Conduct Authority (FSCA) for fraudulent financial statements.
A warrant of arrest against him and a former colleague who is implicated in the alleged accounting fraud had been issued.
#sapsHAWKS The DPCI and NPA have secured arrest warrants for the lead suspects in the Steinhoff matter.
Arrest warrants were issued against Mr Markus Jooste and Mr Stephanus Johannes Grobler on 20 March 2024.
The suspects were expected to hand themselves over at Pretoria Central… pic.twitter.com/hZAVODiIv6— SA Police Service 🇿🇦 (@SAPoliceService) March 22, 2024
Financial Mail editor, Rob Rose, who has been following his shenanigans and wrote a book on the real story behind Steinhoof, says Jooste’s demise came as a shock.
Rose was expecting the 63-year-old to fight the criminal charges against him, just like he had fought every other case as he maintained his innocence in the accounting scandal that shook the world, wiping out R200 billion in pension fund money.
The FSCA says the global retailer, Steinhoff, suffered major loss due to Jooste’s misleading statements.
FSCA’s Commissioner, Unathi Kamlana, says they conducted rigorous investigations against Jooste.
Rose says Jooste’s story bares striking similarities to that of mining tycoon Brett Kebble, as both men might have felt as though death was the easy way out of their problems.
In 2005, mining boss, Kebble, who was facing imminent financial ruin, and personal disgrace -was shot and killed in a hail of bullets while driving to a dinner party in Melrose.
It only surfaced the following year that he had hired convicted drug trafficker, Glenn Agliotti, to kill him.
His death came months after shareholders had forced him to resign as the chief executive of three interlinked South African mining firms.
At the time of his death, a German court also had a warrant of arrest against Jooste, who resigned from Steinhoff in 2017.
His assets had also been frozen by the Reserve Bank.
The South African Institute of Chartered Accountants (SAICA) has expressed its intention to drop a probe into Jooste that the organisation instituted in 2019, with some South Africans slamming this as a ploy to fool the public that something was being done to bring Jooste to book.
Some South Africans believe he might still be alive somewhere.
To be fair, Markus Jooste got away with it. 7 years of dithering by the NPA’s Specialised Commercial Crime Unit made sure that he continued living the best time of his secluded life in Hermanus, blissfully unbothered with his family, his horses, the dogs & that petite, blonde… https://t.co/JpITeOwpn5
— Vusi Sambo (@VusiSambo) March 24, 2024
Markus Jooste is a smart criminal mastermind who ran a scam for two decades! They said he was the smartest in his accounting class.
He conned billionaires and large institutions. Has he pulled off another scam by faking his own death to avoid prison? pic.twitter.com/jnMZtwO4u0
— Africa Research Desk (@MightiJamie) March 23, 2024
Dumelang Bagaetsho. Any sympathy message from BOSA & DA with the news of passing away of Mr Jooste, their funder? pic.twitter.com/jVVmImRmXz
— Wonderboy Peters (@PetersWonderboy) March 23, 2024
Why Jooste faked his death..John Belgrove elaborates..”Hermanus Mediclinic owned by Johann Rupert who declared Markus Jooste dead and didnt Jooste buy Hermanus Property from same Johann Rupert???? Meaning this whole Fake Death of Markus Jooste was orchestrated by Johann Rupert… pic.twitter.com/YrWRkOxUpz
— Mr G-ZAR to Azania (@SeanGoss26) March 23, 2024
Markus Jooste on a beach with Gavin Watson somewhere in the Caribbean: pic.twitter.com/tMqFABehUF
— Gugulethu Mhlungu | Gogo Mpendulo (@GugsM) March 21, 2024
“The sources close to Steinhoff investigation” must be arrested for defeating the ends of Justice. Those sources know where Marcus Jooste is. Those sources must tell us who was trying to arrest Jooste when he “shot” himself. pic.twitter.com/F0odw70d5x
— Mthuli (@Mthuli4) March 24, 2024
And another reminder that #Steinhoff is still fighting tooth and nail to resist the release of the full PwC forensic investigation that would show exactly who else colluded with Jooste. https://t.co/3NZZSxNucR
— Sam Sole (@SamSoleZA) March 22, 2024
Steinhoff was liquidated last year amid plans to switch from a publicly listed company, owned by shareholders, to a delisted group under the control of its creditors.
Written by: Nokwazi Qumbisa
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