Markus Jooste, Steinhoff, Corruption and the Long Arm of the Law

South African Markus Jooste is the former chief executive officer at Steinhoff a firm that lost billions of U.S. dollars when a closer inspection of its financials revealed that figures had been inflated to paint a rosy picture for investors and shareholders. The firm's audit for 2017 also had to be redone after irregularities were found. In court currently, trustees of a group called Le Toit Trust, that invested over U.S.$49 million with Steinhoff is suing Jooste in his personal capacity, as well as other directors for damages. Jooste may also be facing charges of insider trading for tipping off a friend to sell his shares in Steinhoff, days before the scandal broke.

Markus Jooste, Steinhoff International's former chief executive officer

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