Steinhoff’s secret history – How Markus Jooste’s scam began

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Steinhoff’s secret history – How Markus Jooste’s scam began



For years, former CEO Markus Jooste and his inner circle wove an intricate web of opaque deals hidden from shareholders.

01 November 2018 - Craig McKune, amaBhungane and Warren Thompson, Financial Mail

An amaBhungane and Financial Mail investigation has confirmed what many have long suspected: former Steinhoff CEO Markus Jooste held secret stakes in companies that traded with Steinhoff for years to Jooste’s covert benefit. These deals’ true beneficiaries were hidden from investors.

Nor was he the only one.

Some of the deals also secretly included the Steinhoff family, through a trust founded by the company’s founder, Bruno Steinhoff, for his daughters, including current Steinhoff director Angela Krüger-Steinhoff.

Weeks ahead of the expected findings of a PwC forensic report on what went wrong at Steinhoff, this new evidence suggests Jooste, 57, used Steinhoff to secretly enrich himself and Bruno Steinhoff’s family at the expense of shareholders, who were none the wiser about this “self-dealing”.

Read the full article amabhungane.org/stories/steinhoffs-secre...-joostes-scam-began/

Maybe he has a MAGIC WAND ?
How will the racing public feel if he leads in a winner on Breeders Cup night .......

gangsters paridise

So shady :ohmy:

What a stand up guy.

He placed many other stand up guys to assist him control racing. Why are they still there?

Lack of enough evidence being crowed about as an innocent verdict. Shame on KPMG

Im reading this piece of investigative journalism and my mouth is literally hanging open in amazement....

Watta guy......

ive been wondering which assets have been overvalued. so its the property portfolio where most of the trouble started. this is just theft. not much different from van vuuren. he has been telling all hes a very clever accountant who had just sailed very close to the wind and we are all too stupid to understand him . all that is clever about him is the way he managed to pull the wool over so many peoples eyes and conceal that he is nothing more than a common crook