Former Steinhoff CEO Markus Jooste is among four people who will go on trial in Germany next year to face charges of accounting fraud.
This is according to Bloomberg, which said no date has been set for the start of Jooste’s proceedings.
In March 2021, Reuters reported German prosecutors had filed charges against three former managers at Steinhoff for alleged balance sheet fraud.
Jooste has not been charged by South Africa’s National Prosecuting Authority (NPA), although it is working with the Hawks on its investigation. TimesLIVE reported last month that the NPA was liaising with two European countries on the case.
Alleged fraud at Steinhoff was revealed in December 2017 when auditors would not sign off on the company’s accounts.
A month ago assets worth more than R1.4bn held by or linked to Jooste, 61, were frozen by the Reserve Bank. These included Jooste’s home in Hermanus, the Lanzerac wine farm in Stellenbosch, art and jewellery. This related only to suspected exchange control contraventions rather than the wider alleged fraud involving R106bn in “fictitious and/or irregular transactions”.
Ex-Steinhoff CEO Markus Jooste set for fraud trial in Germany next year — report
Image: Esa Alexander/Sunday Times
Former Steinhoff CEO Markus Jooste is among four people who will go on trial in Germany next year to face charges of accounting fraud.
This is according to Bloomberg, which said no date has been set for the start of Jooste’s proceedings.
In March 2021, Reuters reported German prosecutors had filed charges against three former managers at Steinhoff for alleged balance sheet fraud.
Jooste has not been charged by South Africa’s National Prosecuting Authority (NPA), although it is working with the Hawks on its investigation. TimesLIVE reported last month that the NPA was liaising with two European countries on the case.
Alleged fraud at Steinhoff was revealed in December 2017 when auditors would not sign off on the company’s accounts.
A month ago assets worth more than R1.4bn held by or linked to Jooste, 61, were frozen by the Reserve Bank. These included Jooste’s home in Hermanus, the Lanzerac wine farm in Stellenbosch, art and jewellery. This related only to suspected exchange control contraventions rather than the wider alleged fraud involving R106bn in “fictitious and/or irregular transactions”.
READ MORE:
Jooste yet to pay for insider trading
Jooste’s bubble bursts as Reserve Bank cracks down on former Steinhoff CEO
Crucial Steinhoff evidence may have been destroyed years ago
Seized Jooste art includes major works
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