Former Steinhoff boss Jooste dead

Former Steinhoff boss Jooste dead

The 63-year-old died on Thursday afternoon shortly after being taken to a hospital in the coastal town of Hermanus, a police spokesman said. The National Prosecuting Authority (NPA) also confirmed Jooste’s death. South African media, including the state television broadcaster SABC, reported, citing anonymous sources, that no foul play was assumed. The police have initiated an investigation, said the police spokesman.

  • From the archive: Court issued arrest warrant against ex-Steinhoff boss (June 22, 2023)

23 million euros fine

The day before, the South African financial regulator FSCA had imposed a fine of 475 million rand (the equivalent of around 23 million euros) on Jooste. Jooste made false and misleading statements in connection with the Steinhoff accounting scandal, the FSCA said. Jooste would have had to make the payment within a month.

Accusation of incitement

The South African public prosecutor’s office accuses the former CEO of inciting billions of dollars in balance sheet manipulation. The Oldenburg regional court also issued an arrest warrant against Jooste in 2023. At the end of 2017, manipulations at the heavily indebted company, which has its roots in Westerstede in Lower Saxony, became known. The globally active Steinhoff International Holdings is now headquartered in Amsterdam and is controlled from South Africa. Before its collapse, Steinhoff International Holdings was considered one of the largest retailers in the world.

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Source: Nachrichten

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