Steinhoff leaks

There can't be too many examples in the history of stock markets of a share having fallen further %-wise in a shorter period of time(well,not with that sort of mkt cap anyway) than Steinhof.It's worth 2.5% of it's highest value,2.5%,it's inconceivable.

And yet here we are,the 'innocent man' has run away from facing the results of the damage he caused.No such thing as THE BUCK STOPS HERE.

Yes,we are all innocent until proven guilty,but sometimes the guilt is just,slightly obvious...

Only in the racing industry will jooste find people that have sympathy for him..He admitted guilt straight up has brought disrepute to the industry and that is more than enough to wipe his name out the racecard,,,why dont we organise a raceday for him

Yes, Mr H, they would not HAVE TO grant colours to Atul Gupta. Just like they CANNOT take colours away from someone who does not have colours anymore or from someone who has colours, but has not broken any NHA rules and is not yet found guilty of anything. To me that is simple to understand, surely ?

Pirates, I always considered yourself to have a lot more intelligence and integrity than that which your last post may display. So, I ask you to read again, my last post, to which you are reacting. At no stage have I become a MJ sympathiser. This assumption is quite common, I notice. I have constantly stated facts. The very facts which explain why NHA are not doing anything wrong with regard to Mayfair. Surely , just the facts should suffice ?

As for MJ, I admit to not following the whole Steinhof story in minute detail. I do recall him stating that he had made mistakes, in his resignation letter. I do not recall him admitting guilt to any charges. But, I could well have missed something along the way. Yes, everyone is convinced of his guilt, based upon the news and many articles. One would have to wait for legal proceedings and see then, what the charges are and how he pleads. And then await the outcome of the court case. To me that is logical. It is not "sympathy"

Sly

The Spies issue is one that has already been through the legal system. MJ has not.

really Louis lets get real - the BANKS could not be forced to keep Gupta accounts open but an association would be forced to - not in this world or in any other!!!

Unfortunately i lack intelligence lg but i have plenty integrity but its not about me its about the image of racing..the nhra have their own rules and constitution since the beginning of time and some may stand up in a court of law and some may not but MJ besides declaring he has made some big mistakes from day 1 when this all broke furthermore goes onto RESIGN with immediate effect from his job with steinhoff and then he also removes himself from every board he was on including that of phumelela ...I ask is this the actions of a man who thinks he is not guilty?besides bringing the racing industry into disrepute he has more importantly brought the business community and reputation of south african business into disrepute with the rest of the world..Reading the results of the latest agm of steinhoff the external auditors pwc have the evidence that the financial statements going back almost 4 years have been manipulated and are in the process of handing the evidence over for charges to be laid...If our nhra were not controlled by the operators of which mj had his fingers in every pie they would have by now cancelled his colours in order to protect the integrity and image of racing and if he wanted to challenge that in a court of law so be it ..He has plenty other charges to worry about im sure he wouldnt bat an eyelid ..Here is a man who fabricated financial statements of a company that was on the german top 50 stock exchange and the top 5 in south africa who used his shares for collateral to finance his hobby horseracing knowing full well those shares were worth shit all the time ...I hear it all the time from plenty people why are his colours still carrying on ...

Its all a bit mind boggling for the man in the street

I read this morning that Wiese is to try and sue Steinhoff for R59bn !!!

.....Wiese has every right to legal remedy....he was suckered into this con....and sunk more than his baby into it.....we all know that Steinhoff is now worth sh!t....he will not get his money back....but he may land up owning it.... :huh:

Pirates it's quite clear that some people on this forum " can't see the wood for the trees "

You are correct Elvis....

Pirates, I do not understand how NHA must punish Mayfair from a racing perspective, when MJ is no longer a Mayfair member on their records and he has handed in his own colours.... then surely ALL people who were ever in any racing partnership with MJ must also lose their colours ?

I only understand the basics of the law.

Personal view: MJ has brought the racing industry into disrepute - whether or not he is guilty of any crime.

Companies in SA enjoy vast protection under current legislation. Mayfair is not MJ. Mayfair will be allowed to continue trading just like, for example, Tiger Brands will continue trading despite the recent bad publicity.

However, should Mayfair trade in a manner that brings the industry's name into disrepute, the authorities must act immediately.

Louis your support of Jooste has reached the stage that it is becoming nauseous.

Let me answer your weak attempts at justifying this fraudsters participation in racing and the NHRA's shameful conduct in allowing this.

Firstly as you correctly state Jooste has resigned from everything that he can. So let's investigate how this affects his standing at the NHRA. He now races his horses under Mayfair Speculators. Initially the nominee was Derek Brugman. Now, the NHA have clearly come to their senses and realised that this contravenes their rules and you no longer see Brugman associated with the Mayfair horses in regards to all NHA requirements ( noms, acceptances, winners details etc ). The question must therefore be asked WHO EXACTLY ACTS ON BEHALF OF MAYFAIR IF IT IS NOT JOOSTE, THE SON-IN-LAW OR BRUGMAN?

Mayfair Speculators consisted of Jooste and his son-in-law as the only directors of the company. Jooste resigned, so that leaves the son-in-law as the sole director. The son-in-law is not a member of the NHRA. So simply put, here is an entity that is clearly unlicenced by the NHRA, and the NHRA is clearly aware of the scenario ( Brugman removed as nominee ). The NHRA however allow this farce to continue unabated and we see unraced Mayfair horses debuting months after Jooste "resigned". What we have here is failure by a man, Lyndon Barends, appointed by Jooste through his Megapro contacts, to act against the clear rules violation that takes place every time a Mayfair horse runs. I find that morally repugnant and extremely convenient.

Let's take the politics out and let me pose a question that I think will illustrate my point perfectly : Should actions of Mayfair Speculators be seen to be bringing the sport into disrepute, who exactly would the NHRA summons to charge?

Stop it Louis, and think of the people that have been robbed by Joostes actions. They exist despite your continual denial.