
<p><em>Press Release</em></p>



<p>Johannesburg, 25 July 2019 &#8211;  The South African Institute of Chartered Accountants (SAICA) has suspended Mr. Markus Jooste’s membership pending the finalisation of disciplinary proceedings against him.</p>



<p>Jooste tendered his
resignation from SAICA in a letter received from his lawyers on 14 June 2019.
Citing the reasons for his resignation, Jooste’s lawyers allege that the
outcome of the proposed disciplinary enquiry against their client has been
predetermined by SAICA, following media reports in which SAICA CEO, Mr. Freeman
Nomvalo, confirmed that SAICA will be proceeding with a disciplinary enquiry
against Jooste.</p>



<p>SAICA’s Board considered
Jooste’s resignation at its meeting on 26 June 2019. The Board resolved not to
accept Jooste’s resignation and to suspend his membership pending the finalisation
of disciplinary proceedings against him. The Board’s decision not to accept
Jooste’s resignation and to suspend his membership pending the finalisation of
disciplinary proceedings against him, was made in terms of SAICA’s By-laws and
was conveyed as such to Jooste’s lawyers.</p>



<p>SAICA’s By-laws are
designed to ensure that its disciplinary enquiries are conducted in an
independent, lawful and fair manner. Moreover, SAICA has pointed out to
Jooste’s lawyers that their client cannot avoid the disciplinary enquiry that
SAICA has decided to initiate against Jooste by handing in his resignation.</p>



<p><strong>Sent on behalf of
Freeman Nomvalo, SAICA Chief Executive Officer.</strong></p>


SAICA suspends Markus Jooste’s membership pending finalisation of disciplinary proceedings


<p>JOHANNESBURG (Reuters) &#8211; Steinhoff International said on Tuesday it had started legal proceedings against former Chief Executive Markus Jooste and ex-finance chief Ben La Grange to recover certain salary and bonus payments they got prior to 2017.</p>



<p>The South African retailer’s CEO Louis du Preez told lawmakers in March that Jooste, la Grange, along with six other people, were involved in inflating Steinhoff profits and asset values over several years, forcing the firm to restate years of financials.</p>



<p>Steinhoff first flagged holes in its accounts in December 2017 — leading to the exposure of a more than $7 billion accounting fraud — shocking investors who had backed its rise from a small South African outfit to a discount furniture retailer straddling four continents.</p>



<p>Steinhoff, which is also listed in Frankfurt, said it launched the legal proceedings on June 19 in the Cape Town High Court. Jooste’s lawyer, Callie Albertyn, could not be immediately reached for comment. La Grange’s lawyer was also not available for immediate comment.</p>



<p>In its delayed 2017 annual report, the owner of Mattress Firm in the U.S. and furniture retailer Conforama in France, said that Jooste received a bonus payment of 2.1 million euros ($2.37 million) in March and May 2017. It said 500,000 euros of that amount was neither proposed by the human resources and remuneration committee nor approved by the supervisory board.</p>



<p>Steinhoff also said it received summons on June 21 from Barents &amp; Krans on behalf of Hamilton B.V, initiating legal proceedings against the retailer and others “for declaratory relief relating to currently unquantified damages arising from alleged wrongful acts”.</p>



<p>($1 = 0.8856 euros)</p>



<p>Reporting by Nqobile Dludla; editing by Jason Neely and Emelia Sithole-Matarise</p>


What you need to know about Steinhoff seeking to recoup payments made to ex-CEO

<div style="display: block; position: relative; max-width: 730px;">
<div style="padding-top: 56.25%;"><iframe style="width: 100%; height: 100%; position: absolute; top: 0px; bottom: 0px; right: 0px; left: 0px;" src="//players.brightcove.net/1571595826001/default_default/index.html?videoId=6013954061001" allowfullscreen="" border=0 frameborder=0></iframe></div>
</div>
<p>CNBC Africa has learnt that the yet to be released PWC report on the troubled Steinhoff Group outlines clear fraud that should send a number of people to jail. The report is weeks overdue, but CNBC Africa’s Kopano Gumbi got the inside track from a former Steinhoff board member who has seen it.</p>


EXCLUSIVE: Johan van Zyl opens up about Steinhoff, PwC report

<div style="display: block; position: relative; max-width: 730px;">
<div style="padding-top: 56.25%;"><iframe style="width: 100%; height: 100%; position: absolute; top: 0px; bottom: 0px; right: 0px; left: 0px;" src="//players.brightcove.net/1571595826001/default_default/index.html?videoId=5856359764001" allowfullscreen="" border=0 frameborder=0></iframe></div>
</div>
<p>Once hidden from stakeholders, parliament and the public now brought to light by amaBhungane investigation. Markus Jooste has been implicated in setting up dodgy deals for his own personal gain. Joining CNBC Africa for more is Sam Sole, Senior Investigative Journalist at amaBhungane Centre for Investigative Journalism.</p>


Amabhungane uncovers former Steinhoff CEO Markus Jooste’s secret stakes

<div style="display: block; position: relative; max-width: 730px;">
<div style="padding-top: 56.25%;"><iframe style="width: 100%; height: 100%; position: absolute; top: 0px; bottom: 0px; right: 0px; left: 0px;" src="//players.brightcove.net/1571595826001/default_default/index.html?videoId=5831095699001" allowfullscreen="" border=0 frameborder=0></iframe></div>
</div>
<p>CNBC Africa&#8217;s political economy reporter, Karabo Letlhatlha spoke Benguela Global Fund Managers, a shareholder in Shoprite. They also laid charges against Markus Jooste after the Steinhoff scandal broke. Karabo spoke with them about their thoughts on the developments in parliament.</p>


Why Benguela is concerned about former Steinhoff CEO Markus Jooste’s testimony

<div style="display: block; position: relative; max-width: 730px;">
<div style="padding-top: 56.25%;"><iframe style="width: 100%; height: 100%; position: absolute; top: 0px; bottom: 0px; right: 0px; left: 0px;" src="//players.brightcove.net/1571595826001/default_default/index.html?videoId=5831084088001" allowfullscreen="" border=0 frameborder=0></iframe></div>
</div>
<p>It wasn’t me, I am not to blame, ex-Steinhoff boss Markus Jooste told South African law makers who are trying to get to the bottom of the biggest corporate scandal in South Africa&#8217;s history that&#8217;s lost a lot of people a lot of money.</p>


Ex Steinhoff boss Markus Jooste on accounting irregularities, his losses, who’s to blame

<p>On Wednesday Steinhoff’s former CEO Markus Jooste will give his side of the story as to what led to the demise of one of the world’s largest furniture retailers when he appears in front of parliament, see below. It will be the first time the man who has been described as a megalomaniac and was allegedly responsible for the accounting irregularities at the group will give public testimony since resigning on 5<sup>th</sup> December 2017. Events that precipitated <a href="http://cnbc.africa/insights/steinhoff/2017/12/22/steinhoff-scandal-knocks-12bn-off-value-blow-tycoon-wiese/">the wiping out of billions of dollars of Steinhoff’s market capitalisation</a>. Here are ten facts about Jooste you probably didn’t know revealed in <em>Steinhoff: Inside SA’s Biggest Corporate Crash</em> by James-Brent Styan, which was published this year:</p>
<p>		
						<div style="display: block; position: relative; min-width: 0px; max-width: 640px;">
					<div style="padding-top: 56%; ">
						<video-js
								id="5831084088001"
								data-video-id="5831084088001" data-account="1571595826001"
								data-player="962b8774-5f97-47fd-81a6-837da7aecf49"
								data-usage="cms:WordPress:6.5.2:2.8.4:javascript"
								data-embed="default" class="video-js"
								data-application-id=""
								controls   								style="width: 100%; height: 100%; position: absolute; top: 0; bottom: 0; right: 0; left: 0;">
						</video-js>

						<script src="https://players.brightcove.net/1571595826001/962b8774-5f97-47fd-81a6-837da7aecf49_default/index.min.js"></script> 					</div>
				</div>
						
		</p>
<ul>
<li>Jooste did not own Steinhoff shares in his own name when he resigned on the 5 December 2017. His wife Ingrid and son Michael, did.</li>
<li>The 68.9 million shares he owned in his name on the 30 September 2016 were transferred into other companies including Mayfair Speculators, his horse racing business, which is part of a holding company named Mayfair Holdings. The entities’ two directors are Jooste and his son-in-law, Stefan Potgieter. The holdings business is owned by Jooste’s personal trust.</li>
<li>In August 2017, just over three months before the collapse in Steinhoff’s share price, notes Brent Styan’s <em>Steinhoff: Inside SA’s Biggest Corporate Crash</em> Jooste and Potgieter declared a dividend in specie from Mayfair Speculators to Mayfair Holdings comprising houses, property developments, shares in other companies and about R200 million cash. The total value of the assets transferred was R1.5 billion.  After Jooste and Potgieter stripped Mayfair Speculators of the majority of its assets, mainly debt and Steinhoff shares remained in the company, that were practically worthless by December 2017. The debt was more than R1 billion and owed to various financial institutions including Investec, Absa and Sanlam Capital Markets. According to <em>Steinhoff: Inside SA’s Biggest Corporate Crash</em>, “At the end of November, just days before the Steinhoff collapse, Potgieter asked Investec for an increase in Mayfair Speculators’ credit facility. Investec extended an amount of R93.4 million and paid it to Mayfair Speculators in late November. This brought the total loan amount to R250 million. The collateral for the additional debt was Steinhoff shares”.</li>
<li>Jooste remains one of the major racehorse owners in the country through his stakes in Mayfair and the Klawervlei Stud farm.</li>
<li>Jooste is still a major shareholder in JSE-listed company, Phumelela. At the end of July 2017 he and Investec’s co-founder Bernard Kantor’s Kalamojo Trading &amp; Investments owned 9.19% of the horseracing company.</li>
<li>A consortium of which Jooste was part of purchased retail tycoon Christo Wiese’s historic farm Lanzerac in the Jonkershoek Valley.</li>
<li>For several years, Jooste worked for the South African Revenue Service specialising in taxation.</li>
<li>In 2011, Jooste received the Vice-Chancellor’s Gold Award from Stellenbosch University. According to <em>Steinhoff: Inside SA’s Biggest Corporate Crash</em>, the award is given to individuals or institutions who have donated more than R5 million to the university.” Only one other individual besides Jooste has been honoured with a Gold Award”, FirstRand’s co-founder GT Ferreira.</li>
<li>Jooste co-owned the farm formerly known as Bengale opposite PSG founder Jannie Mouton’s farm Klein Gustrouw in the Jonkershoek Valley.</li>
<li>Whilst studying at Stellenbosch University, Jooste stayed at the male residence Wilgenhof to which he later donated a black Jaguar.</li>
</ul>
<p><iframe loading="lazy" width="560" height="315" src="https://www.youtube.com/embed/6yLDWcYFt44" frameborder="0" allow="autoplay; encrypted-media" allowfullscreen></iframe></p>

Ten facts you probably didn’t know about Steinhoff’s former boss Markus Jooste

<div style="display: block; position: relative; max-width: 730px;">
<div style="padding-top: 56.25%;"><iframe style="width: 100%; height: 100%; position: absolute; top: 0px; bottom: 0px; right: 0px; left: 0px;" src="//players.brightcove.net/1571595826001/default_default/index.html?videoId=5759780903001" allowfullscreen="" border=0 frameborder=0></iframe></div>
</div>
<p>JSE listed Phumelela Gaming and Leisure Limited reported a 23 per cent increase in headline earnings to R83.1 million and headline earnings per share down 9 per cent to 81.66 cents.</p>


Phumelela upbeat on gambling market

<div style="display: block; position: relative; max-width: 730px;">
<div style="padding-top: 56.25%;"><iframe style="width: 100%; height: 100%; position: absolute; top: 0px; bottom: 0px; right: 0px; left: 0px;" src="//players.brightcove.net/1571595826001/default_default/index.html?videoId=5759773051001" allowfullscreen="" border=0 frameborder=0></iframe></div>
</div>
<p>JSE listed Phumelela Gaming and Leisure Limited reported a 23 per cent increase in headline earnings to R83.1 million and headline earnings per share down 9 per cent to 81.66 cents.</p>


Phumelela gives update on Markus Jooste’s horses

<div style="display: block; position: relative; max-width: 730px;">
<div style="padding-top: 56.25%;"><iframe style="width: 100%; height: 100%; position: absolute; top: 0px; bottom: 0px; right: 0px; left: 0px;" src="//players.brightcove.net/1571595826001/default_default/index.html?videoId=5759068321001" allowfullscreen="" border=0 frameborder=0></iframe></div>
</div>
<p>Former Steinhoff chief executive officer Markus Jooste maybe subpoenaed to answer questions in Parliament. Jooste was invited to a joint meeting of four parliamentary committees that are sitting tomorrow but his lawyers say he won’t be coming.</p>


Former Steinhoff boss maybe subpoenaed

<p>South Africa’s specialist Hawks police unit opened a case to investigate Steinhoff in December and has sought the help of Interpol in investigating the troubled company, its spokesman said on Wednesday.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-42987 size-full" src="http://cnbc.africa/wp-content/uploads/2017/02/steinhoff_international_logo.jpg" alt="" width="1063" height="650" /></p>
<p>Police were yet to question any of Steinhoff’s staff, or visit the company’s offices to carry out investigations, Hawks spokesman Hangwani Mulaudzi told Reuters.</p>
<p>“We have written to Interpol seeking assistance in investigating Steinhoff’s activities abroad,” Maulaudzi said.</p>
<p>Steinhoff said earlier that it had reported its former chief executive Markus Jooste to the Hawks unit over suspected corruption.</p>


South African police tap Interpol to help with Steinhoff investigation

<div style="display: block; position: relative; max-width: 730px;">
<div style="padding-top: 56.25%;"><iframe style="width: 100%; height: 100%; position: absolute; top: 0px; bottom: 0px; right: 0px; left: 0px;" src="//players.brightcove.net/1571595826001/default_default/index.html?videoId=5723276145001" allowfullscreen="" border=0 frameborder=0></iframe></div>
</div>
<p>Earlier Kuben Naidoo, Deputy Governor of South African Reserve Bank testified at the Steinhoff briefing in Parliament, among other matters he spoke about the central bank&#8217;s analysis of the risks posed by Steinhoff.</p>


Steinhoff scandal does not pose financial stability risk – SARB

<div style="display: block; position: relative; max-width: 730px;">
<div style="padding-top: 56.25%;"><iframe style="width: 100%; height: 100%; position: absolute; top: 0px; bottom: 0px; right: 0px; left: 0px;" src="//players.brightcove.net/1571595826001/default_default/index.html?videoId=5723286513001" allowfullscreen="" border=0 frameborder=0></iframe></div>
</div>
<p>Solly Keetse, Head of Directorate Market Abuse at the Financial Services Board spoke about its mandate to regulate market abuse with a particular focus of Steinhoff.</p>


FSB probes allegations of insider trading at Steinhoff

<p>Steinhoff has reported its former chief executive Markus Jooste to South Africa’s elite ‘Hawks’ police unit, the company’s acting chairwoman told a parliamentary committee hearing on Wednesday.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-43727 size-full" src="http://cnbc.africa/wp-content/uploads/2017/02/steinhoff_logo.png" alt="Germany investigates unit of South Africa's Steinhoff International" width="2000" height="654" /></p>
<p>South Africa’s Steinhoff, which owns more than 40 brands including Poundland in Britain, revealed accounting irregularities in December, sparking an 85 percent share price fall that wiped more than $10 billion off its market value.</p>
<div class="DPSlot_container_2dHIN StandardArticleBody_dp-slot-inline_eUPBt" data-ad-type="other"></div>
<p>It has since been scrambling to sell assets and find short-term funds to avoid parts of its business pulling down the sprawling retail empire.</p>
<p>“We don’t know at this stage if the crisis could have been prevented,” Steinhoff’s acting chairwoman Heather Sonn told a joint finance, public accounts and public service administration committee called to get preliminary information on Steinhoff.</p>
<p>She added that the company was committed to fix what went wrong and that it was co-operating fully with all regulators, having reported Jooste to the authorities to investigate suspected corruption.</p>
<p>Jooste, who oversaw the company’s rapid expansion over almost two decades, resigned on Dec. 5 as the accounting scandal broke. The former CEO has not made a public statement since and could not immediately be reached for comment.</p>
<p>The Hawks &#8211; full name the Directorate of Priority Crime Investigation &#8211; is responsible for investigating national criminal priorities such as serious organized and commercial crimes and serious corruption.</p>
<p>Steinhoff’s former chairman and leading shareholder Christo Wiese, who also spoke at the hearing, said the scandal “came like a bolt from the blue”. Wiese said he became aware of problems at Steinhoff three working days before the company’s accounts had to finalised for a board meeting in December. He said Steinhoff was in “absolute turmoil” at the time “when this bomb exploded.”</p>
<div class="Attribution_attribution_o4ojT">
<p class="Attribution_content_27_rw">Reporting by Wendell Roelf; Writing by James Macharia; Editing by Keith Weir</p>
</div>


Crisis-hit Steinhoff reports former CEO to police

<div style="display: block; position: relative; max-width: 730px;">
<div style="padding-top: 56.25%;"><iframe style="width: 100%; height: 100%; position: absolute; top: 0px; bottom: 0px; right: 0px; left: 0px;" src="//players.brightcove.net/1571595826001/default_default/index.html?videoId=5723162004001" allowfullscreen="" border=0 frameborder=0></iframe></div>
</div>
<p>Market investigations into Steinhoff are far from uncovering what happened to the company, this is what Nicky Newton-King, Chief Executive of the JSE told a parliamentary committee earlier today.</p>


Market investigations into Steinhoff are far from uncovering the truth – JSE

<div style="display: block; position: relative; max-width: 730px;">
<div style="padding-top: 56.25%;"><iframe style="width: 100%; height: 100%; position: absolute; top: 0px; bottom: 0px; right: 0px; left: 0px;" src="//players.brightcove.net/1571595826001/default_default/index.html?videoId=5723162000001" allowfullscreen="" border=0 frameborder=0></iframe></div>
</div>
<p>Steinhoff&#8217;s biggest shareholder, Christo Wiese responded to some of the questions posed to him by members of the joint committees and this is what he had to say.</p>


Detecting fraud is extremely difficult – Christo Wiese

<p><em>Owen Skae, Rhodes University</em></p>
<p>The global retail group Steinhoff is reeling under allegations of accounting fraud. Since the allegations surfaced last year the CEO of the multi-billion dollar business, Markus Jooste, has fallen on his sword and the company’s stock has been hammered, at one point losing about 90% in market value in a few days.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-42987 size-full" src="http://cnbc.africa/wp-content/uploads/2017/02/steinhoff_international_logo.jpg" alt="" width="1063" height="650" /></p>
<p>Observers are calling for harsh punishment, including jail, for the culprits.</p>
<p>Early reports suggest that Steinhoff was involved in massive accounting fraud, including the overstatement of the company’s financial position.</p>
<p>The company is listed on both the Johannesburg Stock Exchange in South Africa as well as the Frankfurt Stock Exchange in Germany. With a primary listing in Frankfurt and an Amsterdam corporate address, Steinhoff follows the Dutch corporate governance code.</p>
<p>Consistent with this code, Steinhoff has a two-tier board structure. This is made up of a management board (comprised of four top executives) and a supervisory board (comprised of 9 non-executive directors).</p>
<p>The point of the two-tier board structure is to ensure that the supervisory board is independent from the executives who sit on the management board. The management board accounts to the supervisory board, which accounts to the shareholders or to the company.</p>
<p>The two-tier board structure is favoured in western Europe. The US and UK prefer the one-tier – or unitary board – structure, as does South Africa for historical reasons.</p>
<p>It appears that Steinhoff’s decision to opt for the two-tier board structure may have contributed to its undoing. Natural holes in the structure, the biggest one being the fact that the management board doesn’t always keep the supervisory board in the loop, combined with Steinhoff’s corporate culture which was anchored by a dominant personality, appear to have created accountability holes.</p>
<h2>Two-tier versus one-tier structure</h2>
<p>There are pros and cons to both systems.</p>
<p>One of the good things about the one-tier board system is that executive directors and non-executives directors sit together on a single board. Traditionally there would be two or three executive directors (the CEO, chief financial officer and the chief operating officer) sitting alongside a majority of non-executive directors.</p>
<p>This means that there’s a seamless flow of information between executives and non-executives. The executives can be asked questions with the entire board present. This closes any information asymmetry. In addition, it can also facilitate quicker decisions.</p>
<p>On the downside, the unitary board structure has been criticised for its propensity to compromise the independence of the non-executive directors. This dilutes their oversight role.</p>
<p>For its part the two-tier system seems to have more checks and balances built into it given that the management board is subject to oversight by the supervisory board, and the supervisory board has to answer to shareholders.</p>
<p>But the two-tier structure is often criticised for information asymmetry between the management board and the supervisory board. In other words management knows a great deal more about the business than the supervisory board. This can lead to operational challenges developing without the board noticing until it’s too late.</p>
<p>Steinhoff’s board structure followed the two-tier system. In 2016 its management board comprised three members, Jooste (CEO), Ben La Grange (Chief Financial Officer) and Danie van der Merwe (Chief Operating Officer and now acting CEO). As is normal under the two-tier system, none of the three members of the management board sat on the supervisory board.</p>
<p>Some analysis of the Volkswagen emissions scandal apportioned blame to the two-tier system combined with a corporate culture that was anchored by dominant personalities.</p>
<p>A similar case can be made for the Steinhoff saga.</p>
<h2>Flaws in the Steinhoff structure</h2>
<p>Did the two-tier structure give the CEO too much leeway to take decisions that in the end led to the near collapse of the company?</p>
<p>This may indeed have been the case. Take, for example, the fact that some believe the company grew too quickly.</p>
<p>The danger of companies expanding too rapidly was highlighted decades ago by author and corporate strategy guru John Argenti who came up with a model that considered factors leading to corporate failure. Two of the higher scored factors were expanding too fast (referred to as overtrading) and high levels of loan borrowing.</p>
<p>Steinhoff seems to have suffered from both. And yet the supervisory board appears to have failed to raise the red flag when it comes to large transactions. An example of it failing to fulfil its oversight role was when it decided to not make public Steinhoff’s USD$1 billion transaction with a related company. Even if the supervisory board didn’t legally have to make this public knowledge, ethically it should have made the disclosure.</p>
<p>The functioning of the audit and risk committee didn’t help the situation either.</p>
<h2>Audit and risk committee</h2>
<p>Steinhoff had three standing committees of the supervisory board – audit and risk, human resources and remuneration and the nominations committee. The committee structure had two weaknesses.</p>
<p>The first was that too few of its non-executives actually served on the committees – only 5 of the 11 supervisory board members. And given that the then chairman Wiese and Claas Daun only sat on one, it begs the question how only three members of the supervisory board could have been expected to carry the real responsibility of the standing committees.</p>
<p>The second flaw was that audit and risk were wrapped up in one committee. This is the norm under a two-tier governance structure.</p>
<p>South Africa’s corporate governance structures might have helped to address both these problems.</p>
<p>King IV stipulates that the risk governance committee should be made up of a mixture of non-executives and executives (the majority being non-executives). And the governance guidelines warn against audit and risk being under one committee. Its advice is that a company should only combine them if it’s able to devote enough time to dealing with risk related issues.</p>
<p>For a company of Steinhoff’s complexity, it seems inconceivable that the audit and risk committee could have devoted the necessary time to undertake its responsibility.</p>
<h2>Conclusion</h2>
<p><img loading="lazy" decoding="async" src="https://counter.theconversation.com/content/89704/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" />The Steinhoff case highlights weaknesses in the governance structure the company had chosen to operate under. That said, the rules have worked perfectly well for thousands of other companies. The lesson therefore is be alert to the warning signs such as dominant directors who don’t heed the rules. They can pose a grave risk to any company.</p>
<p><em>This article was originally published on The Conversation. </em></p>


Markus Jooste

SAICA suspends Markus Jooste’s membership pending finalisation of disciplinary proceedings

What you need to know about Steinhoff seeking to recoup payments made to ex-CEO

EXCLUSIVE: Johan van Zyl opens up about Steinhoff, PwC report

Amabhungane uncovers former Steinhoff CEO Markus Jooste’s secret stakes

Why Benguela is concerned about former Steinhoff CEO Markus Jooste’s testimony

Ex Steinhoff boss Markus Jooste on accounting irregularities, his losses, who’s to blame

Ten facts you probably didn’t know about Steinhoff’s former boss Markus Jooste

Phumelela upbeat on gambling market

Phumelela gives update on Markus Jooste’s horses

Former Steinhoff boss maybe subpoenaed

South African police tap Interpol to help with Steinhoff investigation

Steinhoff scandal does not pose financial stability risk – SARB

FSB probes allegations of insider trading at Steinhoff

Crisis-hit Steinhoff reports former CEO to police

Market investigations into Steinhoff are far from uncovering the truth – JSE

Detecting fraud is extremely difficult – Christo Wiese

Did Steinhoff’s board structure contribute to the scandal?

News Tips

Advertise With Us

Markus Jooste

SAICA suspends Markus Jooste’s membership pending finalisation of disciplinary proceedings

What you need to know about Steinhoff seeking to recoup payments made to ex-CEO

EXCLUSIVE: Johan van Zyl opens up about Steinhoff, PwC report

Amabhungane uncovers former Steinhoff CEO Markus Jooste’s secret stakes

Why Benguela is concerned about former Steinhoff CEO Markus Jooste’s testimony

Ex Steinhoff boss Markus Jooste on accounting irregularities, his losses, who’s to blame

Ten facts you probably didn’t know about Steinhoff’s former boss Markus Jooste

Phumelela upbeat on gambling market

Phumelela gives update on Markus Jooste’s horses

Former Steinhoff boss maybe subpoenaed

South African police tap Interpol to help with Steinhoff investigation

Steinhoff scandal does not pose financial stability risk – SARB

FSB probes allegations of insider trading at Steinhoff

Crisis-hit Steinhoff reports former CEO to police

Market investigations into Steinhoff are far from uncovering the truth – JSE

Detecting fraud is extremely difficult – Christo Wiese

Did Steinhoff’s board structure contribute to the scandal?

News Tips

Advertise With Us

Newsletters