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Home » Disgraced Markus Jooste takes his own life 
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Disgraced Markus Jooste takes his own life 

newsnote correspondentBy newsnote correspondent22 March 2024No Comments6 Views
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Markus Jooste was fined R475m for publishing misleading Steinhoff financials shortly before his death. Source: Bloomberg
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Disgraced former Chief Executive Officer of Steinhoff International, Markus Jooste, has died. 

This after the 63-year-old shot himself at a beach on Hermanus on Thursday afternoon. 

Jooste was supposed present himself to the Hawks in Pretoria on Friday morning, before appearing at the Commercial Crimes Court.  

Police have confirmed that an inquest docket regarding the incident has been opened. 

“We can confirm that Hermanus SAPS opened an inquest docket for further investigation. 

Following the death of a 63-year-old man earlier today (Thursday).

Police were activated to attend to a shooting incident at about 14:40 at Kwaaiwater Beach in Hermanus.

The deceased succumbed to a fatal gunshot wound to the head shortly after arrival at a private hospital. 

The investigation is ongoing,” read a statement from the police. 

The embattled former CEO took his life a day after he was fined R475 million plus interests by the Financial Sector Conduct Authority (FSCA).

The FSCA said this was for “wilfully publishing false information designed to mislead investors in the company’s shares and bankers who loaned Steinhoff hundreds of billions of rand.”

Meanwhile, the Directorate for Priority Crime Investigation, DPCI and the National Prosecuting Authority (NPA) have confirmed that they secured arrest warrants for the lead suspects in the Steinhoff matter. 

The law enforcement authorities said they worked closely together in a ‘complex prosecution guided collaboration that spanned multiple jurisdictions.’

“Arrest warrants were issued against Mr Markus Jooste and Mr Stephanus Johannes Grobler on 20 March 2024. 

The allegations include amongst others fraud, a pattern of racketeering activities and contravention of Financial Markets Act against Steinhoff International Holdings. 

The exit routes were secured before the message of securing their attendance in court was shared with the defence to ensure that none of the suspects leave the borders,” said DCPI spokesperson, Brigadier Thandi Mbambo.

According to Mbambo, the suspects were expected to hand themselves over at the Pretoria Central Police Station and thereafter appear in the Pretoria Specialised Commercial Crimes Court today. 

Mbambo said only Grobler, who is Steinhoff’s former company secretary and head of legal, appeared in court on the said charges. 

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