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Former Steinhoff CEO Markus Jooste, accused of being the mastermind behind SA’s biggest fraud case, fatally shot himself on Thursday to avoid handing himself over for arrest.
HERE IS WHAT WE KNOW ABOUT THE DEATH OF STEINHOFF’S MARKUS JOOSTE
The 63-year-old Jooste shot himself on the beach near his home in Hermanus.
Videos of the bloodied scene circulating on social media on Friday.
POLICE CONFIRMED HIS DEATH ON THURSDAY EVENING
Western Cape police confirmed his death after social media speculation and conspiracy theories on Thursday.
“We can confirm that Hermanus SAPS opened an inquest docket for further investigation. Following the death of a 63-year-old man earlier today.
“Police were activated to attend to a shooting incident at about 14:40 at Kwaaiwater Beach in Hermanus.
police spokesperson Malcolm Pojie said.
JOOSTE DIED SHORTLY AFTER HE ARRIVED AT THE HOSPITAL
Jooste’s death comes just one day after the Financial Sector Conduct Authority (FSCA) fined him R475 million. The fine is for making and publishing false, misleading, or deceptive statements about the company.
That was in addition to a R20 million penalty previously levied by the regulator for insider trading.
HE COMMITTED SUICIDE A DAY AFTER AUTHORITIES FINED HIM
It is believed that the Hawks informed Jooste on Wednesday that he and Stephanus Johannes Grobler, would have to surrender to the police today.
Grobler is Steinhoff’s former company secretary and head of legal.
On Friday, the Hawks spokesperson Brigadier Thandi Mbambo confirmed that they issued arrest warrants against Jooste and Grobler on 20 March.
THE HAWKS INFORMED JOOSTE THAT HE WOULD HAVE TO SURRENDER TO POLICE TODAY
“The allegations include amongst others fraud, a pattern of racketeering activities and contravention of Financial Markets Act against Steinhoff International Holdings.”
Furthermore, Mbambo stated that they first secured exit routes before sharing the message of securing their attendance in court with the defense, ensuring that none of the suspects left the borders.
The authorities expected the suspects to hand themselves over at Pretoria Central Police Station on Friday. They were then expected to appear in the Pretoria Specialised Commercial Crimes Court.
GROBLER APPEARED IN COURT TODAY
Mbambo added that Grobler appeared in court on Friday morning.
Accusers accuse Jooste of being the mastermind behind SA’s biggest fraud case. He was CEO of Steinhoff when it created fictitious offshore shell companies to inflate profits and hide losses.
His estimated worth stood at $500 million. Primarily derived from his interest in Steinhoff International, a company dually listed in Germany and South Africa.
ACCUSERS POINTED TO JOOSTE AS THE MASTERMIND BEHIND SA’S BIGGEST FRAUD CASE
Jooste kept a low profile, making one public appearance before South African lawmakers in 2018 to explain his role in the collapse.
According to an IOL report, Jooste was born in Cape Town in 1961.
He rose through the ranks of the business world with a combination of sharp intelligence, undeniable charisma, and an ambitious vision for the future.
JOOSTE LEAVES BEHIND HIS WIFE, SON, AND TWO DAUGHTERS
With his wife, Ingrid, Jooste had a son and two daughters.
He achieved significant milestones in the South African corporate sector during his early career, ultimately reaching the pinnacle of his profession as the CEO of Steinhoff International, a global retail conglomerate with operations across Europe, Africa, and Australasia.
source:Steinhoff’s Markus Jooste suicide – here is what we know (thesouthafrican.com)
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